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⚠️ Insights and Breaking News on Bitcoin and the whole ecosystem.
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⚠️ Insights and Breaking News on Bitcoin and the whole ecosystem.
➡️ t.me/Bitcoin_Insights
⚠️ Insights and Breaking News on Bitcoin and the whole ecosystem.
➡️ t.me/Bitcoin_Insights
⚠️ Insights and Breaking News on Bitcoin and the whole ecosystem.
➡️ t.me/Bitcoin_Insights
⚠️ Insights and Breaking News on Bitcoin and the whole ecosystem.
➡️ t.me/Bitcoin_Insights
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💰 The DeGods Team Asked The Solana Foundation For $5 Million To Stay
To increase the adoption of its two top-performing Solana nonfungible token (NFT) projects, DeGods and y00ts, Dust Labs is moving them to Ethereum and Polygon. The project’s leader Rohun Vora, known as Frank, said in a Twitter Spaces.
On December 25, it was revealed that both DeGods and y00ts would be officially bridged onto Ethereum and Polygon, respectively, in the first quarter of 2023. In a separate post in response to a Twitter user, Frank confirmed that two NFT projects will still be present on Solana for the time being and that the bridge migration will be owner opt-in.
Source
@Solana_Updates
💰 Top Solana NFT projects DeGods & y00ts are headed to Ethereum and Polygon
DeGods and y00ts, two of the leading non-fungible token collections on Solana, have announced plans to bridge to Ethereum and Polygon early next year, the teams announced on Twitter. NFT projects on the Solana blockchain regarding floor price.
The DeGods collection will migrate to Ethereum, aiming to compete with NFT blue chips like Bored Ape Yacht Club, CryptoPunks and others. Its floor price is 460.00 SOL ($5,221), which tops the entire NFT market on Solana. Meanwhile, y00ts — with a floor of 140 SOL ($1600) — is planned to move over to Polygon, a sidechain of Ethereum that allows for faster and cheaper transactions.We want to make sure that it's airtight,” the DeGods team noted.
Source
@Solana_Updates
🪙 Solana SOL Hits 1-Month Low on Saturday
Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of Christmas Day. Today’s drop saw the token fall for a fourth straight session, as market sentiment shifted bearish. Uniswap was also in the red on Saturday
Solana (SOL) was in the red on Saturday, as prices moved lower for a fourth straight session. SOL/USD slipped to a low of $11.24 in today’s session, which comes less than a day after the token was trading at $11.95. Today’s drop saw solana fall to its lowest point since November 22, when price hit a low of $10.94.As can be seen from the chart, Saturday’s decline came as the 14-day relative strength index (RSI) broke out of a floor at 34.00.
Source
@Solana_Updates
🪙 Solana Becomes 2 Ecosystem
Despite all the technical issues, a massive sell-off during the FTX implosion and the practical death of the NFT and DeFi industries, Solana remains the biggest and most relevant Ethereum rival, and certain data confirms this thesis.
According to market data provided by Delphi Digital, Solana is the second biggest network after Ethereum in terms of selling volume on NFT markets. Despite having a significant lead at this point in time, Ethereum is not taking a 100% stake in the market.Prior to this cycle, Solana had the biggest stake on the NFT market. The situation has changed after the most recent spike in NFT trading volume.
Source
@Solana_Updates
💰 Solana Becomes Second Largest NFT Ecosystem
Nonfungible token (NFT) activity on the Solana network has remained positive despite the recent FTX imbroglio. According to analysis by institutional research firm Delphi Digital, Solana has become the number two ecosystem for NFTs.
The 30-day sales volume metric has topped $50 million, according to Cryptoslam data. Other NFT networks such as ImmutableX, Cardano, Polygon, Flow, and BNB Chain are way behind. As of Dec. 8, Solana NFTs had $60 million in 30-day sales volume, which is more than 4x the next ecosystem, ImmutableX.30-day NFT sales volume on Ethereum was around $400 million, according to the data.
Source
@Solana_Updates
💰 Solana (SOL): Impact of Proof of History on Its Network
Solana (SOL) is considered one of the fastest cryptocurrencies on the crypto market. The scalability of its blockchain comes from its hybrid consensus model of proof of stake (PoS) and proof of history (PoH). PoS is already well known in the blockchain industry
The need for a fast network increases every day with the arrival of new users to this market, and the consensus model of each cryptocurrency is responsible for ensuring that the altcoin does or does not conform to this demand.Proof of history, the consensus idea introduced by Solana.
Source
@Solana_Updates
💰 Real Vision CEO Says Solana Team Is ‘Unlocking Something Big’
Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history.
Solana aims to enable smart contracts to allow developers to build a wide range of decentralized finance (DeFi) apps, new crypto tokens, games, and more. When users stake their crypto, they make the underlying blockchain of that asset more secure and more efficient. they are rewarded with additional assets from the network, which are paid out as rewards.
Source
@Solana_Updates
💰 Crypto Trading Protocol Drift Relaunches Into Rocky Solana DeFi Landscape
As Solana decentralized finance (DeFi) staggers through the rubble of FTX, a long-absent player of its crypto derivatives trading scene is ready to take the stage once again.
Drift, a Solana-based perpetual swaps trading protocol that handled billions of dollars in volume during the 2021-2022 bull run before collapsing during the Terra crash, is going live with its revamped second version on Friday. Many of those services are in short supply in the Solana ecosystem right now, making Drift’s return a potential bright spot.
Source
@Solana_Updates
💰 Solana Maintains Strong Developer Activity Despite FTX Collapse
Solana has seen its price fall over 65% since the FTX/Alameda collapse a month ago, but the developer activity on the blockchain appears to be stickier than previously imagined.
According to a report by Messari, the number of GitHub developer repositories and the number of unique daily programs are up 2.5x year-over-year despite SOL prices dropping 95% over the same period. The Web3 developer report published by Alchemy discovered a similar story. According to the same report, this growth rate is better than the growth.
Source
@Solana_Updates
🪙 Solana’s hack story continues with Raydium Protocol as the new victim
Radiyum Protocol, an order book AMM (Automated market Maker) on the Solana [SOL] network, was hacked on 16 December. Reportedly, the hacker extracted funds from various Raydium liquidity pools without owning or burning any LP tokens.
Through the help of multiple organizations, the team at Radium Protocol figured out how the attack took place. Allegedly, the hacker took owner authority, through which he could access these funds. The attack stemmed from a Trojan attack that was sent to the pool’s owner account along with a compromised private key. After getting access to the owner’s account.
Source
@Solana_Updates
📉 Solana Soars, Flow Falls as NFT Market Declines Further
Turmoil across the cryptocurrency market in November spilled into the NFT space, with falling crypto prices and declining NFT valuations further impacting an ever-weakening market. New data from DappRadar suggests that total NFT trading volume fell again in November.
According to data provided by the analytics firm, the overall NFT market produced about $643 million worth of organic trading volume in November. That’s down over 8% from October, when Decrypt tallied about $702 million worth of volume between partial data from DappRadar paired with additional marketplace data from Dune. U.S.-dollar terms has dropped by 88% since then.
Source
@Solana_Updates
💰 Solana active developers decline 90% in 2022, but SOL devs dispute findings
Solana’s (SOL) active developers have declined by over 90% to 75 developers from around 2,500 recorded in January, according to Token Terminal data. According to the data aggregator, developers within the Solana ecosystem peaked on Jan. 9 when it hit 2,453.
Token Terminal determines an active developer based on an ecosystem through the “number of distinct GitHub users that made 1+ commits to the project’s GitHub repositories during the past 30 days.”.Superteam, a community of developers working on projects within the Solana ecosystem, tweeted, “this is incorrect to say the least. There were more devs on our community call yesterday.”
Source
@Solana_Updates
💰 Solana NFT marketplace Magic Eden Will Reward Loyal Traders With Discounts, Free NFTs
Magic Eden, the largest Solana NFT marketplace by sales volume, today announced a rewards initiative that will give its frequent traders special benefits including fee discounts and free NFTs. The Magic Eden Rewards program, which kicks off later this afternoon.
Each step up the ladder provides greater benefits, the company said, including deeper discounts and access to NFT rewards. For traders that have used multiple Solana wallets to trade NFTs on the platform, they can link all of them to a single Magic Eden account to maximize rewards considerations, rather than having each account based solely on a single wallet.
Source
@Solana_Updates
💰 Charles Hoskinson Says Solana (SOL) Could Become Sidechain of Cardano (ADA)
Charles Hoskinson thinks smart contract protocol Solana (SOL) could theoretically become a sidechain of the Cardano (ADA) network. During a new YouTube AMA session, Hoskinson lays out what sidechain partnerships look like on Cardano.
The Cardano founder says a sidechain can have its own computation model, its own notion of data availability, its own network stack and its own consensus algorithm. Hoskinson says Solana would be in a much better position if it teams up with Cardano.Hoskinson also floated the idea of leading memecoin Dogecoin (DOGE) becoming a sidechain for Cardano.
Source
@Solana_Updates
💰 Discord Adds Solana Integration for Linked Roles, Boosts Web3 Identity
The latest Solana partnership with Discord brings Web3 identity alongside traditional Web2 idenity. Discord has added Solana wallet integration to its Linked Roles features. The move is a big plus for Solana gamers and the Web3 community.
Users can now, based on the December 12 announcement, link their Solana wallet and qualify for roles on Discord. The new integration will use metadata such as holdings, number of txs, or age of the wallet to like the Solana wallets with the Discord IDs. Discord moderators can use these metrics to enable roles inside servers. Solana community have celebrated the arrival of the integration on Twitter.
Source
@Solana_Updates
💰 Solana Records Biggest Loss on One DeFi Metric As BNB Chain Shows Resilience: DappRadar
DappRadar report finds that last month’s crypto market meltdown caused the total value locked (TVL) on smart contract platform Solana (SOL) to freefall. The data acquisition and analysis firm reports that Solana saw a 71% decrease in TVL month-on-month from October to November, crashing to $366 million.
The TVL of a blockchain represents the total capital held within its smart contracts and is calculated by multiplying the amount of collateral locked into the network by the current value of the assets. SOL is trading for $13.70 at time of writing. The 18th-ranked crypto asset by market cap is down more than 57% since November 1st when it was trading at $32.24.
Source
@Solana_Updates
💰 Solana (SOL) Remains Huge, This Data Confirms It
Despite the doomtalk around Solana that has persisted in the industry since the FTX implosion, the network still remains one of the biggest networks in the industry. After comparing it to Ethereum, it becomes clear that Solana easily reaches.
In one of his most recent posts, Chris Burniske shared surprising data and highlighted the fact that Solana had executed just as many NFT transactions as Ethereum to date. Such numerous transactions tied to NFT should not surprise users that much: back in 2021, Solana became one of the most popular networks among NFT creators.
Source
@Solana_Updates
💰 Solana founders see now as a time to bridge the blockchain and the physical world
After FTX collapsed, a number of crypto entities once tied to the bankrupt crypto exchange are trying to pick up the pieces and move forward. As for Solana — a prominent layer-1 blockchain that was backed by FTX.
Developers in the space who weathered the last crypto market cycle see Solana’s ability to handle high levels of transaction throughput as an advantage over some other blockchains and remain bullish on the underlying technology more generally, Gokal explained. “They’re not just paying attention to what’s happening in the market.
Source
@Solana_Updates