Solana

Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is a general purpose blockchain similar to Ethereum. End user applications as of now include decentralized finance (DeFi), non-fungible tokens (NFT), marketplaces, games, and more. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Solana co-founder Anatoly Yakovenko published a whitepaper describing Proof of History, a technique that would become critical to Solana's blockchain infrastructure, in Nov. 2017. 

Co-founder Greg Fitzgerald, who had worked with Yakovenko at Qualcomm, began prototyping the open source implementation of the whitepaper. It was published under the name Silk in 2018. 

After starting the company under the name Loom, Yakovenko, Fitzgerald, and other co-founders rebranded to Solana. Solana launched on Mainnet Beta in March 2020.

Solana was built to facilitate the development of scalable, user-friendly decentralized apps with low costs and high speeds for transactions.

Solana believes its unique blockchain architecture that combines the proof-of-stake consensus mechanism and its own proof of history mechanism is the key to achieving these goals.

Proof of history works almost like a cryptographic timestamp that proves that an event has occurred at a specific time. It enables the blockchain to work fast while maintaining security and decentralization.

There are about 304 million SOL in circulation as of November 2021. Solana has an initial inflation rate of 8%, which will decrease by 15% a year until it reaches a long-term inflation rate of 1.5%. SOL is Solana’s native token.

Solana competes with other blockchain platforms such as Ethereum and Avalanche to host crypto projects such as NFTs, decentralized exchanges, and gaming. 

Developers and users flocked from Ethereum to Solana due to high transaction costs, but many could gravitate back towards Ethereum if it manages to lower costs, which could happen as a result of the Ethereum 2.0 upgrade and layer 2 rollups. 

Solana.com
Docs.solana.com/history
Forums.solana.com

A whale wallet has sold off nearly $100 million worth of Solana (SOL) this year, according to the crypto tracker Lookonchain. Lookonchain speculates that the unknown wallet could belong to an institution. The crypto tracker notes it has hawked an average of 19,306 SOL worth $2.76 million every week since the beginning of 2024.

Whale Wallet Possibly Belonging to Institution Sells Nearly $100,000,000 Worth of Solana (SOL) This Year: Lookonchain

The new index will help traders guage expected SOL price turbulence over two weeks.

Solana's SOL Gets First Implied Volatility Index on Volmex

Binance will unveil a Solana staking product, which allows users to continue using their collateral while earning staking rewards.

Binance reveals details of upcoming Solana liquid staking token

Ethereum

A widely followed crypto analyst believes that Ethereum (ETH) and one of its competitors are setting up for big recovery rallies.

Massive Recoveries Coming for Ethereum (ETH) and Solana (SOL), According to Crypto Trader

Solana-based monthly non-vote transactions in August plummeted to a low not seen since September 2023, according data from The Block.

Solana network transactions hit multi-month low in August

A widely followed cryptocurrency analyst and trader is turning bearish on Ethereum (ETH) competitor Solana (SOL). The analyst pseudonymously known as Bluntz tells his 273,500 followers on social media platform X that SOL against Bitcoin (SOL/BTC) may soon plummet in value.

‘Absolutely Abysmal' – Top Trader Warns Solana Looking Horrid, Says SOL Forming Top Against Bitcoin

A popular analyst says he's feeling bullish on crypto for the end of this year and is updating his outlook on Ethereum (ETH) and Solana (SOL).

Trader Unveils Timeline for ‘Full Send' Crypto Rallies, Updates Forecast for Ethereum and Solana

A torrent of activity and fees helped the token launchpad, which debuted on Solana in January, hit $100 million in revenue in record time.

Solana Meme Coin Factory Pump.fun Is the Fastest Growing Crypto App in History

Currently, the total value locked (TVL) in decentralized finance (defi) stands at $82.2 billion, with Ethereum hosting a commanding 57.24% of that amount. Hot on its heels, Tron and Solana take the second and third spots for the largest TVLs today.

Ethereum Still Holds the Lion's Share of Defi TVL as Tron and Solana Rise

The “world's largest crypto event” is set to take place at Singapore's Marina Bay Sands on September 18-19.

Binance CEO, Solana Founder Among Token2049 Highlights

As metrics cool on Solana meme coin factory Pump.fun, meme token prices on the Solana network have slipped over the past week.

Solana Meme Coins Slump as Degens Ditch Pump.fun

The price of Solana (SOL) has been moving sideways as the altcoin has slipped below its moving average lines. Price analysis by Coinidol.com.

Solana pulls back and approaches its previous low of $120

The Solana-based meme coin Church of the Smoking Chicken Fish (SCF) is taking a leap from digital memes to real-world impact.

Solana Meme Coin Church of the Smoking Chicken Fish Goes Nonprofit, Plans Real Church

Church of the Smoking Chicken Fish is a meme coin project that's attempting to spread life lessons—and build a physical place of worship.

Solana Meme Coin Project Plans to Build a Church in Texas After Pivoting to Religon

Bitcoin

Liquidations spiked to $186 million across the crypto market early Friday as Bitcoin dipped below $58,000—and other top coins fared worse.

Bitcoin Price Falls Again, With Ethereum and Solana Down Over 20% in August

On Thursday, the first Solana spot exchange-traded fund (ETF) product raised over $2.75 million during its public offering on B3, the Brazilian stock exchange. The product, previously approved for trading by the Brazilian securities regulator (CVM), is offered by QR Asset, which also has a bitcoin-based ETF product.

First Solana Spot ETF Raises $2.75 Million on Brazilian Stock Exchange

Trading platform Robinhood (NASDAQ:HOOD) has announced the integration of Solana (CRYPTO: SOL) into its Web3 wallet. What Happened: Announced by Johann Kerbrat, General Manager of Robinhood Crypto, marks another milestone in the company's ongoing efforts to broaden its digital asset offerings.

Robinhood Adds Solana To Web3 Wallet, Expands Crypto Offerings

In a comprehensive thread on X, crypto analyst Miles Deutscher explored the current state of retail investment in cryptocurrency and speculated whether a resurgence might be on the horizon. What Happened: Deutscher notes a shift in sentiment with BlackRock‘s application for a spot Bitcoin ETF in June 2023, describing it as a “paradigm shift” in institutional perception of the crypto king.

Here's Why Bitcoin, Ethereum, Solana Are So Boring Now Compared To 2021

Kyle Samani, managing partner at Multicoin Capital, offered a candid assessment of Ethereum's (CRYPTO: ETH) recent price underperformance relative to competitors like Solana (CRYPTO: SOL). What Happened: In an interview with crypto podcast Bankless, Samani attributed the underperformance largely to two key factors: Broken Layer-2 interoperability: Users face a frustrating experience when trying to move assets between Ethereum's various Layer-2 blockchains like Arbitrum (CRYPTO: ARB) and Optimism (CRYPTO: OP).

Ethereum Won't Become Store Of Value, Underperforms Solana Due To Layer-2 Chains, Says Crypto VC

A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar 2019 market pattern plays out again.

Analyst Benjamin Cowen Updates Solana (SOL) Outlook, Says Ethereum Rival May Be Repeating 2019 Fakeout

Solayer has raised $12 million in a funding round led by Polychain Capital to advance its integrated restaking network on the Solana blockchain. The initiative aims to address Solana's scalability and transaction inclusion challenges by leveraging a novel approach to staking and network bandwidth optimization.

Solayer Secures $12 Million to Enhance Solana's Restaking Capabilities

REZ's initial liquidity will be provided on Solana's major AMMS, and the token will be integrated with the blockchain's lending protocols.

Renzo expands REZ governance token to Solana via Wormhole

Crypto analyst Benjamin Cowen offered a nuanced perspective on Solana's (CRYPTO: SOL) recent performance and potential future trajectory, urging caution amid the altcoin's impressive rally. What Happened: In his latest podcast update, Cowen acknowledged he was correct in predicting Solana would drop below $10 in 2022 but admits he didn't anticipate its subsequent 500% surge against Bitcoin (CRYPTO: BTC).

Will Solana Still Hit A New All-Time High Against Bitcoin? Analyst Sees 'Consolidation And Correction' Next

Polygon

The Solana restaking protocol said it would use the new funding to emulate EigenLayer's approach to "shared economic security."

Solana Restaking Protocol Solayer Closes $12 Million Round Led by Polygon

Ex-Goldman Sachs executive Raoul Pal believes that Ethereum (ETH) competitor Solana (SOL) could have a massive price explosion this cycle. In a new interview on the Empire podcast, Pal predicts that Solana will put up somewhere around 900% gains in the coming months. “The whole space goes up a lot [in the next 12 months].

News for Solana Crypto (SOL)