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 top crypto strategist says that one Ethereum (ETH) competitor may be setting the stage for another explosive move to the upside. Pseudonymous trader Bluntz tells his 233,800 followers on the social media platform X that Solana (SOL) appears to be in the midst of an ABC corrective pattern.

Ethereum Rival That's Exploded 900%+ Year-to-Date Primed To Go Higher, Predicts Top Trader – Here Is His Target

While Solana (CRYPTO: SOL) rallied significantly in the past week taking its position to the top fourth-ranked crypto token, now it is witnessing a drop in price amid falling Total Value Locked (TVL) and profit booking amongst traders. What Happened: Solana is currently seeing a price correction after witnessing a surge to its highest at $124.70 early this week and highest since April 2022.

Solana Below $100 With 8% Plunge Amid Drop In Total Value Locked: 'That Push Above $100 Has Turned Into A Bull Trap' Expert Says

In a week dominated by meme coins on the Solana (CRYPTO: SOL) blockchain, Silly Dragon (CRYPTO: SILLY) stole the spotlight with a meteoric rise. Silly Dragan soared to a new all-time high of $0.137 today, marking a staggering 119.11% increase over the past seven days and 23.89% in the past 24 hours, according to data from CoinMarketCap.

Solana Meme Coin Silly Dragon Slays Giants, Explodes 119%

Traders were moving capital from SOL to stablecoins suggesting profit taking, one analyst said in an interview.

Solana's SOL Dips Below $100, Slips Back Behind BNB in Crypto Ranking

A trader who started with only 1.5 SOL (worth $92) managed to make $2 million in 22 days, marking a gain of 21,715x. What Happened: According to Lookonchain data, the trader noticed the token Silly Dragon (CRYPTO: SILLY) only five minutes after it opened to trade.

Trader Makes $2M In 22 Days Off Solana-Based SILLY, 'Highest Cap Dragon Coin Going Into 2024' Analyst Says

SOL may have burned a little too hot a little too fast, now falling 7% in 24 hours.

Solana Dips Below $100 as Meme Coin Trading Reverses Course

Bitcoin

Investors in crypto are increasingly turning their attention to decentralized finance (DeFi) tokens amidst regulatory uncertainties that loom over market giants like Bitcoin (BTC) and Solana (SOL). This shift in focus reflects a broader trend towards innovation and adaptability in the crypto space, which is where Pullix (PLX) comes into play.

Can Bitcoin (BTC) And Solana (SOL) Survive The Regulatory Storm? Investors Shift Focus To DeFi Tokens Amidst Uncertainty

Ethereum

Bitcoin BTC and crypto prices—including XRP XRP and led by ethereum rival solana—have surged to highs not seen since early 2022 this year (alongside a shock China crypto flip).

‘$16 Trillion By 2030'—Crypto Now Braced For A 2024 JPMorgan And Wall Street Earthquake Amid Bitcoin, Ethereum, Solana And XRP Price Boom

SOL's price is back above $100 for the first time since early 2022.

Solana's Scorching Rally Shows Ethereum Has a Serious Competitor

Bonk

The meme token is now well below the all-time high it touched two weeks ago.

Brakes on Bonk: Solana-Based Meme Down 56% From All-Time High

Recent statistics reveal that in the last week, decentralized exchange (dex) platforms built on Solana have surpassed Ethereum in market performance. Data indicates that Solana-based dex platforms achieved a volume of $1.447 billion in the past day, overshadowing the $1.282 billion recorded by Ethereum trading platforms.

Solana's Dex Platforms Eclipse Ethereum in Weekly Trade Volumes

Investors are looking to book profits on BONK (CRYPTO: BONK) and other tokens of the SOL ecosystem. What Happened: The Solana (CRYPTO: SOL) ecosystem tokens have been facing a dull week, indicating investors are profit-taking after a significant bull run in native tokens from other major projects.

Why is BONK Down 15% Today? Solana Ecosystem Tokens Witness Profit-Taking After Rally

Solana (CRYPTO: SOL) will end 2023 on a high note after soaring to a new 52-week high in December and becoming one of the most talked about cryptocurrencies. Solana Solstice: Interest in the digital asset exploded in recent weeks thanks to many items, including airdrops like Jito (CRYPTO: JTO), to people who participated in a Solana-based liquid staking protocol.

Solana In 2023: A Look Back At Top Storylines, Coin Surge — Plus Partnerships With Visa, Mastercard, Shopify And More

Solana ecosystem tokens have surged several multiples in the past month. Traders could now be taking profits to rotate funds into newer plays.

BONK Falls 13% as Solana Ecosystem Sees Profit Taking After Memecoin Frenzy

A trader who accurately called the bottom of Bitcoin's (BTC) 2018 bear market thinks that the uptrend of one Ethereum (ETH) challenger that has massively outperformed the broader crypto markets this year is far from over.

Top Analyst Unveils Massive Price Target for Surging Ethereum Rival, Calls Altcoin This Cycle's Darling Chain

Based on Lookonchain data, an anonymous cryptocurrency trader clocked a profit of more than 2,570 times using 30 Solana tokens within a short span of six days. What Happened: The trader did not directly buy and sell Solana (CRYPTO: SOL) tokens instead he used the 30 SOL tokens he owned to buy 16 billion Analos in the very first minute of the memecoin opening trade.

Anonymous Crypto Trader Uses 30 Solana Tokens To Buy Analos Memecoin In 'Pivotal Week'

Solana, which soared past the $100 mark over the weekend, has cooled slightly. SOL is trading for $109.20—down 11% in the past day.

Solana Cools Slightly as Bitcoin and Ethereum See Prices Slump

Cryptocurrency analyst Altcoin Sherpa has reportedly increased his holdings for Solana (CRYPTO: SOL) despite suggesting that it might not be the optimal time for such an investment. What Happened: Altcoin Sherpa anticipates that the cryptocurrency, often regarded as a competitor to Ethereum (CRYPTO: ETH), will maintain its upward trajectory into 2024.

Crypto Analyst Says This 'Ethereum Killer' Will Get Him Rich In 2024: 'My Thesis On Solana Was..'

Solana network non-vote transactions have reached a yearly high of 34 million as the token rallies by over 2% in the past 24 hours.

Solana non-vote transactions hit yearly high

Dogecoin

Major cryptocurrencies had a mixed trading day on Christmas. Cryptocurrency traders who bet on shorts didn't have a good day today.

Bitcoin Ethereum, Dogecoin Trade Mixed Christmas As Solana Flips King Crypto On Short Liquidations: Analyst Says BTC 'Absolutely Primed' For Growth

A widely followed crypto analyst says that one little-known altcoin has massive upside potential while updating his outlook on smart contract platform Solana (SOL).

Analyst Predicts ‘Big Upside' for Little-Known Crypto Asset, Updates Outlook on Solana

The cryptocurrency Solana (CRYPTO: SOL) established fresh records for monthly new and active addresses. What Happened: As reported by The Block, the price upswing of Solana has been paralleled by a substantial increase in network activity.

Solana's Network Activity Soars As It Breaks $100 Mark

New data from decentralized finance (DeFi) tracker DeFiLlama reveals that surging altcoin Solana (SOL) is now the top traded digital asset on decentralized exchanges (DEXs) behind Ethereum (ETH). Solana's trading DEX volume has soared by more than 25% in the past week for a total of $5.

Solana Surges Nearly 83% in a Week As SOL's Decentralized Exchange Volumes Now Rank Second After Ethereum's

Venture capitalist Chris Burniske says that one red-hot Ethereum (ETH) rival that has surged over 1,000% this year is primed to hit new all-time highs (ATHs).

Ethereum Competitor That's Exploded 1,000%+ This Year Eyeing New All-Time High, According to Venture Capitalist

A widely followed crypto analyst says that another rise of over 3x is in the cards for one red-hot altcoin that has already skyrocketed about 1,000% since the start of the year.

News for Solana Crypto (SOL)