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

Solana gained 11% in the past 24 hours, trading above $263 to reach a new all-time high amid an extended crypto market rally.

Solana jumps 11% to reach all-time high amid market rally

After plunging to nearly $8 in 2022, Solana has finally fully rebounded, jumping above the $260 mark Thursday for the first time ever.

Solana Hits All-Time High Price Two Years After FTX Nearly Sent It to Zero

The SEC's reported progress on Solana ETF filings and potential leadership changes have sparked optimism, signaling a possible shift in cryptocurrency investment regulations. Solana ETF Filings Spark New Hope Discussions about a solana (SOL) spot exchange-traded fund (ETF) between the U.S.

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Crypto-investments firm Bitwise took a big jump Thursday toward offering a Solana exchange traded fund (ETF) in the United States.

Bitwise Joins Mounting Race for Solana ETF

Solana (CRYPTO: SOL) is up 10% on the day and closing in on its all-time high as new Solana spot ETF filings indicate continued institutional interest. What Happened: Eleanor Terrett of Fox Business on Thursday tweeted that the SEC is reportedly engaging with issuers interested in launching a Solana spot ETF, with progress being made on S-1 applications, citing sources familiar with the matter.

Solana Soars 10%, Reaches New All-Time High Market Cap: What Is Going On?

Crypto asset manager Bitwise has filed for a Solana ETF amid increased optimism about SEC approvals under a Donald Trump administration.

Bitwise Files for Solana ETF as SOL Nears Record Price

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Gary Gensler to leave SEC on Jan. 20, regulator now ‘engaging' on spot Solana ETFs and more

The prospects for spot Solana exchange-traded funds are progressing, with the U.S. Securities and Exchange Commission "now engaging" on S-1 applications.

SEC is ‘engaging' Solana ETF applicants: report

A closely followed crypto analyst says that one Solana (SOL) rival may be gearing up for a series of rallies.

‘Very Strong Moves' – Analyst Sees Rallies for Solana Rival, Updates Forecast for Two Ethereum-Based Altcoins

The price of Solana (SOL) has maintained its upward trend, rising to $248 on November 18. The upward movement was halted at the $250 resistance level.

Solana Price Wobbles As It Tries To Break Through The $250 Level

A teenager was giddy after rugging his meme coin, dumping it for $30,000 while crashing the price. But degens made sure he regretted it.

This Child Made $30K Rugging a Solana Meme Coin—Then Crypto Degens Got Revenge

Solana traders are quickly embracing the newest stablecoin to join their decentralized finance (DeFi) fray: USDS, issued by Sky (formerly MakerDAO).

Juiced USDS Yields Woo Solana Traders to Sky's Stablecoin

Ethereum

Solana has been on an eye-watering tear over the last year, and according to Syncracy's Ryan Watkins, this might just be the beginning.

The Scoop: Solana is giving Ethereum a run for its money

Dogecoin

Seasoned trader Peter Brandt believes that top memecoin Dogecoin's (DOGE) price action as of late looks incredibly bullish. Brandt tells his 751,800 followers on the social media platform X that DOGE has broken out of two technical patterns on the weekly chart this year.

Trader Peter Brandt Says One Memecoin Flashing ‘Super Strong' Chart, Predicts Price Rips for XRP and Solana

Bonk

On Tuesday, Bonk (BONK) reclaimed its title as Solana's largest meme coin by market cap, surpassing Dogwifhat (WIF).

Bonk Surges Past Dogwifhat as Solana's Top Meme Coin, Fueling Market Buzz as SOL Approaches All-Time High

Two Solana (SOL)-based altcoins are rallying amid sudden support from the South Korean crypto exchange Bithumb. Bithumb announced spot trading support starting on Tuesday for memecoin PONKE (PONKE) and automated market maker (AMM) protocol Raydium (RAY). Amid the news, monkey-themed PONKE has shot up more than 7% in the last 24 hours, trading for $0.

Two Solana Ecosystem Altcoins Jump After Crypto Exchange Bithumb Announces Trading Support

Sky co-founder Rune Christensen told Decrypt that Solana support "marks the beginning of a new multi-chain era for USDS."

Ethereum Giants Formerly Known as MakerDAO and DAI Now on Solana

Basketball legend Shaquille O'Neal has signed an $11 million settlement for a class-action lawsuit brought over his embattled Astrals NFT project.

Shaq Agrees to $11 Million Settlement in Solana NFT Lawsuit

The SOL token came close to the $250.00 level, reaching its loftiest values since November 2021 as bullish sentiment fueled upside.

Solana Prices Reach 3-Year High Near $250 As Sentiment Fuels Gains

A closely followed crypto strategist thinks layer-1 rivals Ethereum (ETH) and Solana (SOL) are gearing up for rallies to new all-time highs. Pseudonymous analyst Inmortal tells his 217,500 followers on the social media platform X that he believes Ethereum is in the midst of a brief consolidation period before rallies to new record-high levels.

Analyst Predicts Rallies to New All-Time Highs for Ethereum and Solana, Calls One Memecoin the ‘Outperformer'

Raoul Pal, CEO of Real Vision, expressed an optimistic outlook for the crypto market, predicting a “banana zone” liquidity surge that will drive prices higher. What Happened: In an appearance on the ‘When Shift Happens' podcast, Pal, who will be a headline speaker at Benzinga's upcoming Future of Digital Assets event on Nov. 19, outlined his strategy, focusing on leading cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL), while also highlighting his bullish stance on Sui (CRYPTO: SUI).

Raoul Pal Bullish On Solana And Memes: 'Dogecoin Does Nothing, Does Nothing And Then Explodes'

The latest price moves in bitcoin (BTC) and crypto markets in context for Nov 18, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Solana Breaks Out to New Cycle Highs

The vault has been filled in excess of an initial $100,000 target as of Asian morning hours, with $240,000 worth of stablecoins deposited for CAT on Solana, data shows.

CAT Token Expands to Solana, Setting Up Long-Term Bullish Move

Developers in LamportDAO received a gift of billions of BONK in 2022. It helped some pay rent—and others get crypto-rich (maybe).

News for Solana Crypto (SOL)