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

Aggregated Solana CME futures trading volume came in at $8.1 billion in July, while open interest average for the month topped $400 million.

Solana CME futures volume and open interest more than triple in July as ETF momentum builds

Dogecoin

Solana, XRP, and Dogecoin are experiencing sharp downturns as investor sentiment turns cautious, Decrypt was told.

Crypto Markets See Red as Solana, XRP, Dogecoin Extend Losses

Bitcoin

Crypto markets experienced a sharp bout of volatility over the past 24 hours, with more than $630 million in leveraged positions liquidated across exchanges.

$600M Bullish Bets Liquidated as Bitcoin Drops to $115K, DOGE, SOL, XRP Fall 6%

Firms looking to launch Solana ETFs made changes to their filings as they potentially inch closer to getting the SEC's sign-off.

Firms amend SOL ETF filings as they look to get the SEC's approval

Last week's worst-performing token is today's best, providing a little excitement to an otherwise boring crypto trading day.

Bitcoin Sits Tight, But There's One Solana Token Turning Heads: Analysis

Helium, one of the most well-known DePIN projects on Solana, is launching a new service called Helium Plus, aimed at transforming how businesses contribute to the Helium Network.

Helium Plus Lets Businesses Join Solana DePIN Project With Just Wi-Fi

Cboe BZX filed to list a Solana ETF on Wednesday, advancing a second U.S. staking-enabled fund even as the SEC delays on similar products.

Cboe BZX Seeks Regulatory Nod for Invesco Galaxy's Solana ETF

DoubleZero, the decentralized protocol built to accelerate blockchain performance, has unveiled a new 3 million SOL stake pool, worth about $537 million in current prices, under the ticker DZSOL.

DoubleZero Launches $537M SOL Stake Pool to Turbocharge Solana Validator Network

Zora led the way for daily token creations on Monday, accounting for more launches than Solana giants Pump.fun and LetsBonk combined.

Base Overtakes Solana in Daily Tokens Created As Pump.fun Continues to Shrink

XRP (XRP) perpetual futures listed on the U.S.-based Kraken exchange have become more popular than their sol (SOL) counterparts for the first time.

XRP Futures Volume on Kraken Eclipses Sol for 1st Time as Price Soars to Record

Altcoins slid sharply Tuesday as traders braced for a wave of economic events, including a Federal Reserve interest rate decision due Wednesday.

DOGE, SOL and XRP Lead Altcoin Losses as Rate Jitters and Leverage Unwind Hit Crypto

Bonk

Solana remains in a range ahead of the upcoming FOMC rate decision, even as institutional capital continues to flow into the ecosystem.

Solana News: Foundation Unveils 2027 ICM Infra Roadmap, Bonk Pummels Pump.fun

A pseudonymous trader has shared a story of turning one of the market's worst wipeouts into an inspiring comeback by recovering from a $400,000 loss with narrative-driven spot investing. What Happened: In a detailed post shared on X on July 29, trader Dyme chronicled his journey from being a "top signal" in 2021 to reaching portfolio all-time highs in 2024.

Trader Bounces Back From $400,000 Loss With Bitcoin, Solana, Dogecoin Spot Holdings

This is a daily analysis of top tokens with CME futures by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin's Bollinger Bands Tightest Since February; XRP, SOL Establish Lower Highs

DeFi Development (DFDV), the Nasdaq-listed firm pursuing a crypto treasury strategy focused on Solana (SOL), said on Tuesday it increased holdings to roughly 1.18 million SOL, worth about $218 million.

DeFi Dev Boosts Solana Treasury to $218M After Latest Purchase

Upexi, Inc. (UPXI) has lined up a $500 million equity line deal to bankroll its business operations and boost its stash of Solana. But while the company gears up for crypto accumulation, UPXI shares have nosedived more than 17% over the past week.

Nasdaq-Listed Upexi Establishes $500M Equity Facility to Increase Solana Holdings

The SEC has pushed back its deadline on the Truth Social Bitcoin ETF and Grayscale Solana Trust by several weeks.

SEC Delays Decision on Trump-Linked Bitcoin, Grayscale Solana ETFs

Solana (SOL) treasury activity continues to draw institutional attention after Nasdaq-listed consumer brand company Upexi Inc. announced a new $500 million equity line agreement on Monday. The facility, arranged with A.G.P.

Nasdaq-Listed Upexi Secures $500M Equity Line to Expand Solana Treasury Holdings

Upexi can now sell up to $500 million of its common stock to fund general corporate expenses and SOL token purchases.

Solana treasury company Upexi enters into $500 million line of credit agreement to fund additional SOL token buys

Anatoly Yakovenko dismissed meme coins and NFTs as having “no intrinsic value” in a discussion with Base creator Jesse Pollak.

Solana Co-Founder Calls Meme Coins 'Digital Slop' Despite Token-Fueled Surge

The price of Solana (SOL) has risen to a high of $206 after breaking above the $184 resistance level.

Solana Holds Above $180 Support

XRP is regaining investor attention as a wave of ETF-driven optimism and post-lawsuit momentum builds around the token — even amid price turbulence and large-scale liquidations earlier this week.

Analysts See XRP Hitting $4, Solana $250 as ETF Buzz Builds

A pair of Solana (SOL)-based altcoins is dipping in price after gaining support from the largest crypto exchange by trading volume in the US. In a new thread on the social media platform X, Coinbase Assets says it is adding support for Jito Staked SOL (JITOSOL) and non-fungible token (NFT) marketplace Metaplex (MPLX).

Two Solana (SOL)-Based Altcoins Get the Nod From Top US-Based Crypto Exchange by Trading Volume Coinbase

While bitcoin (BTC) slid only modestly, other major cryptocurrencies tumbled over the past few days, sparking doubt of the durability of the so-called altcoin season.

XRP, DOGE, SOL Lead Crypto Selloff, But Altcoin Season Still in Play if This Happens

Ethereum

Crypto analyst Benjamin Cowen expects a bearish month for Bitcoin (CRYPTO: BTC) in August, which could lead to fresh lows for altcoins. What Happened: In a July 21 podcast, Cowen maintains that altcoins remain elevated when measured against BTC, citing his custom indicator, “Total3 minus USDT divided by Bitcoin”, which suggests further downside for altcoins.

News for Solana Crypto (SOL)