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

In a series of tweets, crypto trader Altcoin Sherpa analyzed Solana (CRYPTO: SOL), Popcat (CRYPTO: POPCAT) and AI-related crypto coins, suggesting their current lows may be good opportunities to accumulate. Solana: "Short Term Neutral" Sherpa has a short-term neutral stance on Solana, predicting that $120-$150 remains as a good area to accumulate.

What's Going On With Solana, Popcat, AI Crypto Coins? Here's What Technical Analysis Says

Bitcoin Cash

BCH gained 1.6% and SOL rose 1.5%, contributing to modest index growth.

CoinDesk 20 Performance Update: BCH and SOL Gains Lead as Index Inches Up 0.3%

Ethereum

The PYUSD stablecoin on Solana has a supply of 377 million, while Ethereum-based PYUSD stands at 356 million.

PayPal's PYUSD stablecoin on Solana surpasses its supply on Ethereum

Layer-1 blockchain Sui has printed more than a 2x from its lows in the last seven days, outperforming most of the top 100 altcoins. After hitting the $0.45 level on August 5th, SUI traded for $1.12 early Monday morning, a 148% gain in a week. In May, Sui unlocked 1.

Solana Rival Sui Explodes 148% From Lows in Sudden Resurgence Despite Large Token Unlocks

Solana-based decentralized exchange trading volume has decreased by over 10% in the past week, DefiLlama data shows.

Solana DEX trading volume falls as Ethereum and Base see increased activity

Bitcoin

Ethereum (CRYPTO: ETH) is down 15% over the past 30 days, but on-chain data and technical analysis suggests its period of underperformance may soon be over. What Happened: On-chain data provider Cryptoquant on Monday suggested that Ethereum's market shakeout will lead to a bullish rebound.

Ethereum Struggling Against Bitcoin, Solana But A Reversal May Be On The Way

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news from the last week. In this issue: El Salvador holds talks with the IMF despite its Bitcoin allegiance; Brazil greenlights the first Solana spot ETF; and Polymarket gets criticized for its decision on the Venezuelan presidential election bet.

Latam Insights: El Salvador Advances Talks With IMF Despite Bitcoin Allegiance; Brazil Passes First Solana Spot ETF

Pump.fun, a platform for creating meme coins, has announced a new update that rewards users for launching successful tokens.

Pump.fun's Latest Update Rewards Successful Meme Coin Launches With 0.5 SOL

Crypto liquid funds are bullish on Solana and DeFi, viewing them as top investment opportunities amid market shifts.

The Funding: Crypto liquid funds bet big on Solana

Over the past week, there's been a buzz among market watchers about solana's performance against BTC, especially when compared to ether. Since the year kicked off, ether has tumbled over 20% against the leading cryptocurrency, while solana has gained more than 5%.

Solana Gains Ground on Ethereum and Bitcoin in 2024

Solana is the next big target for spot ETF issuers in the United States, but does approval in Brazil mean it'll happen soon in America?

Solana ETFs 'Inevitable' in US After Brazil Approval, Says VanEck Exec

dogwifhat

A widely followed cryptocurrency analyst and trader is predicting a massive rally for one large-cap memecoin. Pseudonymous crypto strategist Bluntz tells his 267,900 followers on social media platform X that meme asset dogwifhat (WIF) could soar more than 495% from the current value. “$10 next, it's inevitable.

Top Crypto Trader Says 6x Rally for One Large-Cap Memecoin ‘Inevitable,' Outlines Path Forward for Solana

Crypto analyst DonAlt shared his insights on Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL) in his latest market analysis, highlighting key levels and potential scenarios for near-term price action. What Happened: In the latest podcast episode, DonAlt pointed out that Bitcoin's monthly chart is at a critical juncture, with the $61,000 level being a key area to watch.

Bitcoin's Line In The Sand Is $60K, But Careful With Ethereum And Solana, Says Top Technical Analyst

Andrena, a U.S.-based internet service provider, has announced the completion of an $18 million extended Series A funding round led by Dragonfly Capital, with participation from CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures, and Parafi. The funds will be used to develop Dawn, a Solana-based decentralized broadband distribution network.

Andrena Raises $18 Million to Develop Solana-Based Depin Broadband Protocol Dawn

Curve DAO Token

Memecoin creators now receive 0.5 SOL when the token reaches the bonding curve, whether or not they ever held the token of their creation.

Pump.fun shifts token deployment fees to first buyers, will pay creators 0.5 SOL on bonding curve completion

Brazil's Securities and Exchange Commission (CVM) has given the green light to a spot Solana exchange-traded fund (ETF), marking a significant step in the global crypto market.

Brazil's Securities and Exchange Commission Approves Spot Solana ETF

Solana developers, validators, and client teams worked together to address a critical security vulnerability.

Solana developers address critical vulnerability with coordinated patch

The Brazilian securities regulator (CVM), equivalent to the U.S. SEC, has greenlighted the launch of a solana spot ETF for national markets. The product, the first of its kind to be approved, is offered by QR and managed by Vortx. It is already in its pre-trading stages.

Brazilian Regulator Approves Solana Spot ETF

Brighter U.S. economic numbers and an FTX settlement have buoyed the crypto market late in a rough week.

Bitcoin, Ethereum, and Solana Surge as Traders Face Choppy Market

Solana's (CRYPTO: SOL) rally, which spiked at $160 in Thursday trading, prompted traders to foresee further upside for the popular altcoin. What Happened: Crypto trader Eugene Ng Ah Sio believes that at a later date this cycle will be collectively called the “SOL supercycle.

Solana Spikes To $160 As Brazil Approves First Solana ETF: 'SOL Should Gain 100% On Ethereum In Months Ahead,' Says Trader

The Block data shows a dramatic spike in Jito validator tips, reaching an all-time high of 17,290 SOL (approximately $3.19 million) last week.

Solana sees record Jito validator tips amid rise in network activity and new token launches

A widely followed crypto analyst says that smart contract platform Solana (SOL) is likely to outperform Bitcoin (BTC) in the short term. In a new strategy session, pseudonymous crypto trader Credible Crypto tells his 408,400 followers on the social media platform X that Solana is “looking pretty strong” when paired against Bitcoin.

Analyst Says Solana (SOL) Looking ‘Pretty Strong' Against Bitcoin (BTC) – Here's His Outlook

Blast's largest meme coin is moving networks to Solana, claiming that building on the network was ‘an uphill battle.'

Blast Memecoin Pacmoon Migrates to Solana, Rebrands to ARMY

From XRP scoring a big W to Aave profiting from the market crash, here is a 3-minute breakdown of everything important that happened in crypto today.

What Happened in Crypto Today: Solana Did What?

Two of former U.S. president Donald Trump's sons, Eric and Don Jr.

News for Solana Crypto (SOL)