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 widely followed crypto analyst and trader is expressing bearish sentiment on a top-50 memecoin by market cap. The analyst pseudonymously known as Bluntz tells his 258,100 followers on the social media platform X that dogwifhat (WIF), which is built on the Solana (SOL) blockchain, could drop by around 66% from the current level.

Top Analyst Predicts Massive Drop for Solana-Based Memecoin That's Exploded Over 42x in Four Months

The price of Solana (SOL) bounces and moves positively above the 21-day moving averages.

Solana Reaches A High Of $160 And Begins Its Upward Trend

Ethereum

The Lehman Brothers-driven global financial crisis of 2008 showed the danger of spreading money around too much.

Restaking Is Hot in Ethereum and Entering Solana. Should We Worry?

Another batch of locked Solana tokens from the FTX estate is being auctioned this week, with bidding set to start shortly.

FTX estate's auction for third tranche of locked Solana gets underway

Glauber Contessoto, better known as "SlumDOGE Millionaire" on social platforms, drew attention to the price trajectory of Solana (CRYPTO: SOL), the fifth-largest cryptocurrency by market cap, over the past year. What Happened: The popular crypto trader, who built a fortune investing in Dogecoin (CRYPTO: DOGE), casually asked his 328.8k-strong community, "I put $250K into $ADA at 24 cents.

If You Invested $250K In Solana A Year Ago, You Would Have Whopping $1.65M Today

Bitcoin

While most of the top cryptocurrencies are trading sideways or slightly down, Solana (SOL) stands out with a nearly 2.28% increase over the past day.

Solana Gains 5%, While Bitcoin and Ethereum Experience Minor Dips

Dogecoin

Pepe

A closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle. Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.

‘Last Dip Ever' – Analyst Predicts Solana Rally, Says Three Memecoins Will Surge Alongside SOL

Solana-based DePIN project Ambient has raised $2 million ahead of token launch and has also acquired PlanetWatch.

Solana DePIN Ambient raises funds ahead of token launch, acquires PlanetWatch

Cosmos

CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).

Solana and Cosmos Lead CoinDesk 20 Higher: CoinDesk Indices Market Update

Franklin Templeton, a leading investment firm with over $1.5 trillion in assets under management (AUM), believes Solana has the potential to become the third-largest cryptocurrency in the market. The firm praised the resilience of the project, its continued airdrops, and the work developers have undertaken to fix the network's recent congestion issues.

Investment Firm Franklin Templeton Believes Solana Will Become the Third Largest Crypto Asset

Bonk

WIF is the only meme coin in the top 100 posting gains amid a broader crypto dip. Other popular meme coins are struggling to maintain momentum.

Solana's Dogwifhat Pumps as Bonk, Dogecoin and Other Meme Coins Lose Ground

Joe McCann, founder and CIO of Asymmetric, provided a bullish outlook on Solana‘s (CRYPTO: SOL) future in the cryptocurrency market, praising its architecture for its high throughput and low transaction costs, essential for broader adoption. What Happened: In a podcast with Raoul Pal of Real Vision, he highlighted the upcoming “Fire Dancer” update, developed by Jump Crypto, which aims to significantly increase Solana's transaction capacity to one million transactions per second.

Why Solana Has Been 'An Almost Obvious Play,' According To This Crypto VC

Solana is the biggest gainer in the top 10 cryptocurrencies on an otherwise quiet Monday morning, as Bitcoin and Ethereum tick down.

Solana Price Jumps Nearly 5% as Bitcoin, Ethereum Lag Behind

Smart contracts, not humans, are driving nearly all stablecoin arbitrage, liquidity provision, and market making.

90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activity', Visa Says

Global investment giant Franklin Templeton thinks Solana (SOL) is primed to establish itself as the “third major crypto asset” after Bitcoin (BTC) and Ethereum (ETH). In a new analysis, the firm's digital assets unit notes that the Solana network has witnessed significant increases in total fees and decentralized exchange (DEX) volumes in the past year.

Solana Primed To Establish Itself As ‘Third Major Crypto Asset' After Bitcoin and Ethereum: Franklin Templeton

A closely followed crypto strategist is updating his outlook on one red-hot altcoin amid a crypto market correction. Pseudonymous analyst Altcoin Sherpa tells his 215,800 followers on the social media platform X that he is long-term bullish on Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs).

Trader Updates Outlook on Altcoin That's Exploded Over 900% Year-to-Date, Maps Path Forward for Solana Rival Sui

Viktor, a pseudonymous researcher focused on decentralized finance, recently shared his thoughts on the potential for altcoins to outperform Bitcoin (CRYPTO: BTC) in the current market. What Happened: In his latest tweet, the researcher noted that altcoins have been performing better than Bitcoin during the recent market downturn.

Is This The Time To Buy Altcoins? Crypto Researcher Sees These '2 Main Options'

A closely followed crypto strategist is warning that Bitcoin (BTC) may not yet be done correcting. Pseudonymous analyst Altcoin Sherpa tells his 215,800 followers on the social media platform X that only after Bitcoin reclaims the $60,000 level will he have more confidence a bullish reversal is occurring.

Crypto Trader Warns Bitcoin Not ‘Out of the Woods Yet,' Maps Path Forward for Solana and Ethena

Jito Network became the top DeFi protocol on Solana, with liquid staking pool token JitoSOL rising by 8.5%.

Jito Price Jumps After Topping Solana DeFi Protocols With $1 Billion Locked

Cryptocurrency markets on Thursday clawed back some of their losses earlier in the week, with Bitcoin open interest sinking to its lowest levels in two months. What Happened: Major cryptocurrencies are up moderately at the time of writing: Prices as of 4 p.m.

Bitcoin Battles To 'Reclaim Some Levels,' Solana, Meme Coins Leading The Rebound: The Thursday Play-By-Play

Bitcoin is rising after a rough week, but meme coins like Pepe, Bonk, Dogwifhat, and Dogecoin are the biggest winners today.

Ethereum and Solana Meme Coin Prices Surge Amid Modest Bitcoin Gains

Jito now has 10 million SOL ($1.4 billion) in total value locked — accounting for some 38% of Solana's overall TVL.

Jito becomes largest protocol on Solana with $1.4 billion in TVL

Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.

Over $448,000,000 in Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Liquidated As BTC Crashes Below $58,000

Solana (SOL) co-founder Raj Gokal is naming two blockchains that have a head start in the sovereign blockchains crypto sub-sector. At a TOKEN2049 panel discussion, Gokal says that Avalanche (AVAX) and Cosmos Hub (ATOM) are “the clear winners” with regard to sovereign blockchains.

Solana Co-Founder Says Cosmos and One SOL Rival Are Clear Winners in Building Sovereign Blockchains

Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales.

News for Solana Crypto (SOL)