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

Bitcoin

Polkadot

The CoinDesk Market Index, a weighted index of over 100 tokens, fell 0.71% in the past 24 hours, suggesting profit-taking across the board.

Bitcoin Starts to Retrace Grayscale-Fueled Gain; SOL, XRP, DOT Lead Majors Slide

A closely followed crypto strategist says that besides Bitcoin (BTC) and Ethereum (ETH), there are only three other projects he's bullish on. The pseudonymous analyst known as The Flow Horse, also known as Cantering Clark, tells his 181,700 followers on the social media platform X that ETH-rival Solana (SOL) has big upside potential.

Top Trader Says He's Only Bullish on Solana and Two Other Crypto Assets Besides Bitcoin and Ethereum

TVL continues to sink, while some projects announce airdrops and incentivized testnets. Read on to find out more DeFi news and alpha!

The Week in DeFi: Holesky Testnet Launch, Balancer Security Vulnerability, and Solana Pay x Shopify

Solana-based automation project Clockwork's developers are moving on from the venture-backed startup after finding it had “limited commercial upside.”

Solana-based Automation Startup Clockwork to Shut Down

Cryptocurrency price analysis brought by Coinidol.com. The price of Solana (SOL) has moved in a range after falling on August 17.

Solana Will Fall Further As Rejection At $21 Looms

Solana continued to trade higher during Tuesday's session, following a recent breakout below a support point of $20.00. Momentum in the market has begun to gradually pick up in recent days, ahead of Friday's Federal Reserve Jackson Hole annual meeting. BNB remained in the green.

Biggest Movers: SOL Recovers From Recent Declines, BNB Extends Gains

Cardano

Both tokens rose 3%, bitcoin and ether added as much as 1.2%, while bnb (BNB) rallied 1% after staving off concerns about contagion risks in the BNB Chain ecosystem.

SOL, ADA Lead Crypto Majors' Gains as Bitcoin Traders Move Past $1B Liquidation Event

Litecoin

Top crypto analyst Benjamin Cowen is warning that one Ethereum (ETH) rival could plummet like Cardano (ADA) did last cycle.

Benjamin Cowen Says One Ethereum Rival Could Crash by +50%, Updates Outlook on Bitcoin and Litecoin

Solana Pay will be integrating with Shopify, one of the world's biggest e-commerce platforms in the world for a new payment function. The Solana Foundation, creators of Solana Pay, says in an announcement that the protocol will now be included as a payment option on Shopify.

Solana Pay Integrates With Shopify for Instant Payments With USD Stablecoins

Despite today's market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.

Bitcoin Climbs 3% to $26.6K; SOL, NEAR, ADA Lead Crypto Market Gains

Solana Pay, the payment protocol built on the Solana blockchain, is now plugged into e-commerce giant Shopify, allowing users to pay in USD Coin (USDC), the companies announced Wednesday.

Shopify Customers Can Now Pay In USDC Via Solana Pay

The Solana Foundation says payments through the plugin require lowers fees than using a credit card.

Shopify Adds Solana Pay to Its Platform to Allow USDC Payments

Ethereum

Renowned investor and former ARK Invest executive Chris Burniske on Monday shared his insights on the future trajectory of major cryptocurrencies, including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL), asserting that these digital assets have already reached their lowest points of the cycle. Burniske, who accurately predicted the crypto market bottom in 2022, drew a comparison to the market dynamics of 2019 and stated, "While 2019 is useful context, I don't think $BTC, $ETH, and $SOL make new lows in '23 — 2022 was the low imo.

Crypto's 2022 Bottom Confirmed? Ex-ARK Exec Predicts Bullish Surge For Bitcoin, Ethereum, Solana

The protocol's focus on growth in Asia Pacific showcases the region's increasing importance in the crypto industry.

Maple Finance Eyes Asian Expansion With $5M Investment, Returns to Solana

A widely followed investor who called the 2022 crypto market bottom says that Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) are about as low as they will go. Former ARK Invest executive Chris Burniske tells his 263,200 X followers that BTC, ETH and SOL are unlikely to make new lows this calendar year.

Investor Who Called 2022 Bottom Says Bitcoin, Ethereum and Solana Not Making New Lows – Here's Why

Cosmos

Polygon

Uniswap

The crypto market was lower to start the week after bitcoin posted its worst week since May.

Altcoins slide to begin the week while bitcoin and ether stabilize

Cryptocurrency analysts of Coinidol.com report, Solana (SOL) is trading below moving average lines after a price decline on August 17.

Solana Encounters Resistance At $22 And Records Another Decline

Dogecoin

Shiba Inu

Ahead of the sharp crypto price crash, a former U.S.

Stark BlackRock Warning As Sudden $1 Trillion Crypto Market Crash Tanks The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Shiba Inu Price

Solana (CRYPTO: SOL) on Friday surpassed Dogecoin (CRYPTO: DOGE) in terms of market capitalization, claiming the 8th position. What Happened: This development comes amid growing fear in the crypto market, as indicated by the crypto fear and greed index, which currently stands at 37, signaling a significant level of fear among investors.

Solana Overtakes Dogecoin in Market Cap Amid Crypto Fear

A decentralized wireless network crypto project on the Solana (SOL) layer-1 blockchain is aiming to transform the telecom industry with the launch of a new mobile phone plan. In a statement, Helium Mobile says it has just rolled out a phone plan, which will be initially available exclusively to Miami residents.

Solana (SOL)-Based Crypto Project Helium (HNT) Launches Mobile Phone Plan

Shiba inu fell lower for a fifth straight session on Thursday, resulting in the meme coin dropping to a 13-day low. Since hitting a four-month high last Saturday, SHIB has struggled to find a firm floor. On the other hand, Solana ended a recent losing streak.

Biggest Movers: SHIB Slips to 2-Week Low, SOL Snaps Losing Streak

Solana was one of Tuesday's big gainers, rising to a multi-week high following a ‘death cross' of moving averages. The move came despite the global market cap falling marginally lower as of the time of writing. Toncoin was another notable mover, rising for a sixth-straight day.

Biggest Movers: SOL, TON Move to Multi-Week Highs on Tuesday

Longtime Bitcoin (BTC) bull Raoul Pal believes that the crypto markets will suck liquidity out of other asset classes. The former Goldman Sachs executive tells his 997,200 Twitter followers that crypto is a “supermassive black hole that eats all other asset classes.

Raoul Pal Calls Crypto a ‘Black Hole' That Eats All Other Assets, Predicts Bitcoin, Ethereum and Solana Rallies

Former Goldman Sachs executive Raoul Pal says that Solana (SOL) looks reminiscent of Ethereum (ETH) during its bear market of 2018 and 2019.

Solana (SOL) Looks Like Ethereum in 2018 With Potential To Do Well, Says Ex-Goldman Sachs Executive

Bernstein analysts have called stablecoins the "monster crypto killer-app" that could catapult the $125 billion market to almost $3 trillion in just five years

‘Monster Crypto Killer-App'—Crypto Suddenly Braced For A $2.8 Trillion PayPal Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Shiba Inu Price Boom

News for Solana Crypto (SOL)