Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.3 billion. A Closer Look At The Outflows The magnitude of these […]
The price of the Boden token went on a wild run shortly after its launch on March 9.
Crypto-related investment products experienced a downturn after a streak of record inflows, with a total outflow of $942 million reported last week, according to CoinShares‘ latest weekly report. This marks the first instance of outflows in the past eight weeks, signaling the conclusion of an impressive seven-week inflow totaling $12.3 billion. Market correction impacts crypto […]
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Solana could outpace Ethereum in terms of consumer DApps, according to the Solana Foundation’s former head of growth.
The Solana ecosystem has achieved a significant milestone by becoming the most popular blockchain ecosystem of the year. This is due to its ability to capture nearly half of the world’s crypto investor interest in the chain-specific theater. Together with the outstanding performance of native meme coins like dogwifhat and important ecosystem project tokens like Pyth, Solana’s comeback to 2021 peaks show a revived faith in the network. Related Reading: Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April Solana’s Dominance: Coingecko Study Insights According to a study by Coingecko, as a result of Solana’s nearly 50% share of global chain-specific interest, and its affiliated projects’ increasing popularity and performance, the ecosystem has a significant mindshare that reinforces its leadership in the cryptocurrency market. Currently priced at $191, Solana (SOL) has increased by 13% in value over the past 24 hours. The fifth-ranked cryptocurrency has a market capitalization of nearly $85 billion, and its 24-hour trading volume amounted to $9 billion. Bitcoin price action. Chart: TradingView The popularity of Solana’s meme coins and ecosystem initiatives are successful in attracting attention to the network’s lively and dynamic ecosystem. As long as Solana is drawing attention and capital, its ecosystem will continue to dominate the cryptocurrency investor scene, paving the way for network expansion and innovation. Ethereum, on the other hand, is the second most popular blockchain ecosystem this year, having garnered nearly 13% of investor interest. Ethereum is probably not a new, hot crypto narrative anymore as its ecosystem and investors are already familiar with it. The Ethereum ecosystem is also seeing its focus spread out among the layer 2 ecosystems that are developing on top of it. SOL seven-day price ascent. Source: Coingecko Factors Driving Solana’s TVL Increase Meanwhile, according to DefiLlama’s data, the Solana blockchain has demonstrated a remarkable performance, with its decentralized finance (DeFi) total value locked (TVL) rising by nearly 80% in the previous month alone. Related Reading: DeFi Turmoil: Over $5 Million Wiped Out In Liquidations Amid Ethereum Price Drop This incredible ascent represented a significant turning point for the network, with the Solana TVL reaching its highest point in the previous two years. According to the most recent report, Solana is among the top five with the fastest-rising TVL in DeFi, with nearly $4 billion. Source: Defillama Much of Solana’s TVL is based on the increase in trade volume, which is tracked by the Defi protocols and operates across its Layer 1 (L1) network. Just this past month, there was a 125% increase in the daily trading volume of these protocols; the level of trading reached a peak of nearly $3.7 billion. Additionally, the network achieved an all-time high of $1.6 million in total daily fees, with fee income of $3.61 million. Featured image from Pexels, chart from TradingView
In an exclusive interview with CoinDesk, Solana co-founder Anatoly Yakovenko weighs in on the meme coin frenzy that has brought attention activity to the blockchain – along with complaints that transactions aren't going through.
The scalability debate within the Solana ecosystem has reached a fever pitch, fueled by pointed discussions on X (formerly Twitter) among leading figures in the blockchain space. At the heart of the debate is the question of whether Solana, a blockchain celebrated for its high throughput and low transaction costs, can maintain its performance and […]
The new feature, described as "multitasking for rollups," is on Starknet's project road map for the second quarter of 2024, released Wednesday.
Crypto traders are struggling to hold Bitcoin price above $68,000, and altcoins are suffering as a result of BTC's weakness.
“Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now,” the project wrote.
Solana’s SOL has surged to a new all-time high of 0.05797 against Ethereum, according to Tradingview data. This price performance follows its recent surge above the $200 mark for the first time since November 2021, coinciding with the blockchain record-breaking network activity. The price uptick has propelled Solana’s market capitalization to an unprecedented high of […]
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Amid the bullish sentiment around the crypto landscape, the Altcoin overall market cap has displayed positive strength as many investors and traders are throwing capital into several altcoins ahead of the bull cycle. Altcoin Market To Rally Toward $425 Billion Since Bitcoin has surged to a new record high, many cryptocurrency analysts anticipate a surge in the altcoin market cap. Rekt Capital, a cryptocurrency expert and trader, has shared a positive prediction regarding the altcoins market cap with the community on X. The expert analysis delves into the current state of the market and its potential to surge higher in the coming months. His projections came in light of the altcoin season index showing advancement, which suggests that its season is almost here. Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins – Here’s When According to the analyst, the market has been “redirected into the blue-circled testing area,” which was caused by rejection from the “red-circled circle zone.” However, the market has rebounded since then, indicating an increased interest from market investors. Furthermore, Rekt Capital noted that the market has surpassed the “$315 billion red line of resistance.” As a result, the red line resistance level has now been changed to a “new support level.” Due to this, the crypto analyst anticipates a surge to the “light blue circle” at the $425 billion threshold in the upcoming months. The post read: The red-circled area rejected the Altcoin Market back into the blue-circled retesting zone. Since then, the Altcoin Market Cap has recovered, broken beyond the red $315bn resistance, and turned recently into new support. Next is the light blue circle, over time. However, Rekt Capital also asserted in another recent post that the “$315 billion mark is still being retested by alts market cap new support.” It has been unable to move past it despite today’s double-digit declines on several altcoins. Even though the market is still retesting the aforementioned level, Rekt Capital is confident that it will “revisit the $425 billion resistance” soon. He anticipates the market revisiting the level before the Bitcoin Halving event, expected to take place in April. Alts Gains Are Sustable And Likely To Crash Chief Executive Officer (CEO) of Bitcoin technology firm JAN3, Samson Mow, has also shared his insights regarding the altcoin market. Despite anticipating a rise in the altcoin market, Mow highlighted that he expects alts to “crash in the upcoming weeks.” Related Reading: Altcoin Market Cap Break From “Wyckoff Accumulation Phase”: Will Ethereum, XRP Fly? According to Mow, alts have been monitoring the “increase in Bitcoin” after launching BTC Spot Exchange-Traded Funds (ETFs). However, altcoins do not possess “the $500 million to $1 billion” daily inflows seen with Bitcoin. Consequently, this should be the “major sign” that their gains “can not” be maintained. “MSTR has a $30 billion market cap, Solana is $73 billion. That is absurd. A correction is overdue,” he added. Featured image from Shutterstock, chart from Tradingview.com
After BOME's impressive success, see why users are eagerly placing their SOL in a subsequent pre-sale, involving wallet transfers.
Wifi Dabba, an Indian internet service provider, is launching a second round of its DePIN-powered devices on the Solana network to bridge the digital divide and connect millions to the internet.
Crypto community members' opinions were split, with one saying “profit is profit” and another saying that the trader “fumbled” generational wealth.
Bitcoin could enter a period of consolidation before its next leg in the rally, observers noted.
The dominance war is on. CoinMarketCap data shows that Solana and BNB Chain, two popular smart contracts platforms after Ethereum, are emerging as strong contenders. In a post on X, one crypto analyst notes that SOL and BNB, the native currencies of Solana and BNB Chain, respectively, have been growing, subsequently expanding the market caps of their respective platforms. However, even with this price uptick, it has yet to attain the 5% level, a target for proponents of the two platforms. Will Solana Flip BNB To Fourth? When the analyst shared the screenshot on March 14, BNB Chain, powered by Binance Coin (BNB), held a slight lead with a 3.34% dominance, while Solana trailed behind at 2.72%. Related Reading: Solana Smashes Major Resistance Levels, New All-Time High Imminent? However, Solana has been on a tear. Not only is the coin outperforming Bitcoin and Ethereum, but it has been expanding rapidly, faster than BNB in the past few trading weeks. When writing, CoinMarketCap data shows that SOL is trading above $170, a multi-month high. Moreover, it is up 11% on the last trading day and 20% in the previous trading week. At this valuation, SOL’s market cap is up 12% to over $75 billion, cementing its position at fifth, trailing BNB. On the other hand, BNB remains at fourth, behind USDT–the most liquid stablecoin whose market cap stands at over $103 billion. BNB is up 2% the previous day but double digits in the past week of trading. Overall, the lack of inactivity, especially on the last trading day, means its total market cap, at over $90 billion, is stable, only adding 2% on the last day. When comparing the performances of Solana and BNB, the former has the upper hand. For example, from September 2023, SOL gained over 200% versus BNB. BNB pared losses from January, but the revival in Solana, considering the success of meme coins, means SOL might extend gains in the future. Solana Rally On FTX’s Bankruptcy Case Proceedings, BNB Shakes Off Regulatory Woes As the competition intensifies, the future remains uncertain. It’s unclear whether SOL will overtake BNB to claim the second most dominant smart contract spot after Ethereum. However, at the time of writing, what’s certain is that the spike in on-chain activity on Solana and the unfolding events around the FTX bankruptcy case could bolster SOL prices. Therefore, it’s highly probable that Solana’s dominance might catch up with BNB as the race to the 5% level intensifies. Related Reading: Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase In November 2023, Binance settled with United States regulators, including the Securities and Exchange Commission (SEC), agreeing to pay a $4.3 billion fine. As part of the deal, their co-founder, Changpeng Zhao, also had to resign as CEO. While BNB prices initially plunged, the token recovered steadily from the $300 level. Feature image from Shutterstock, charts from TradingView
Drift Protocol – a crypto spot and futures exchange that operates on the Solana blockchain – plans to expand into "pre-launch markets," too, with a service that lets traders bet on the price of tokens before they start officially trading.
In a recent development, the United States Attorney’s Office in Massachusetts has taken legal action to reclaim $2.3 million in crypto assets and return it to 37 victims who fell prey to online scams and fraud. The civil forfeiture action aims to forfeit various cryptocurrencies, including Circle’s USD Coin (USDC), Tether (USDT), Tron (TRX), Solana […]
Eclipse mixes tech from Ethereum, Solana and other blockchains.
Bitcoin hit a new all-time high, but the failure to sustain the breakout suggests that bears remain active at higher levels.
A new virtual smartphone application has launched on Solana’s blockchain and Aethir’s decentralized cloud infrastructure aimed at users with outdated hardware and those in emerging economies.
The “NFT” token drop will benefit Magic Eden’s Bitcoin Ordinals traders, along with those on Solana and Ethereum.
The $5.2 billion asset management giant is eyeing FTX’s discounted SOL stack worth around $5.4 billion.
Manta’s Kenny Li argues that only blockchains with a “modular” approach stand a chance of survival, but critics say the whole debate is just a marketing stunt.
The Wormhole governance token is coming soon across Solana, Ethereum, and beyond. Here are the latest airdrop details.
The sharp recovery in Bitcoin and Ether shows that the bulls remain in control, and every dip is being viewed as a buying opportunity.
It's a dog coin battle on Solana as BONK and WIF swap spots, if only temporarily. Will Dogwifhat take a permanent lead?
In early trading, Wormhole’s W token has five times the value that it held last month.
Cross-chain gaming platform Portal just launched its token and airdrop ahead of upcoming staking rewards, nodes, and other perks.