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

Asian stocks and futures jumped higher Tuesday, recovering from one of the worst slides in recent years in Monday's trading session.

Bitcoin Jumps Above $56K, Solana Leads Recovery From Monday's Rout

Solana (SOL)'s price dropped sharply on Monday amidst a market rout, plummeting to $110, a level last reached in March this year.

Solana Hits Lowest Price Since February, Memecoins Plummets Amid Market Turmoil

As Solana fell to its lowest price since February, meme coin mania hit a bump in the road, causing asset prices to plummet.

Solana Price Plunges 30% in a Week—And Its Biggest Meme Coins Are Down Worse

Amid macroeconomic turmoil and major crypto sell-offs, the market cap of Solana-based memecoins has experienced a significant downturn.

Solana memecoin market cap suffers double-digit drop

Crypto veteran Chris Burniske is reasserting his confidence in Ethereum (ETH) rival Solana (SOL), confirming a future price prediction despite the downward market. Late last month, Burniske, a partner at crypto venture firm Placeholder, said that a price target of $1,000 per SOL may end up looking “conservative” in the future.

Investor Chris Burniske Doubles Down on Massive Solana (SOL) Forecast – Here's His Outlook

This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Ollie of Blocmates delves into the rise of Solana celebrity memecoins.

An Analysis of Solana's Celebrity Memecoin Invasion

Dogecoin

Ethereum

It's bloodshed across the crypto market again, with Bitcoin and Ethereum losses helping to drive more than $350 million in liquidations.

Bitcoin and Ethereum Prices Plummet as Solana and Dogecoin Lead Weekly Bleeding

Crypto bulls lost nearly $200 million in the past 24 hours as the week's sell-off worsened over the weekend.

Bitcoin Plunges Under $60K; Crypto Bulls Lose $200M as Dogecoin, Solana Tokens Drop 10%

With meme coins on Solana exploding, the Ethereum rival has become “the blockchain of fun and for the people,” one expert says.

Solana DeFi Trading Volume Tops Ethereum for the First Time in July—Here's Why

Bitcoin—along with other major cryptocurrencies ethereum, solana and XRP—have crashed back this week

FBI Issues Serious Crypto Warning Amid $300 Billion Bitcoin, Ethereum, Solana, BNB And XRP Price Crash

The seemingly fundamentals-defying surge of Solana's native token, SOL, may reflect the project's potential rather than its current technical performance, according to Chris Zhu, the CEO of Sonic. To support this assertion, Zhu highlights Solana's ecosystem growth despite recent outages.

Solana Token's Rally Reflects Protocol's Potential, Says Web3 Advocate

A closely followed crypto analyst says that one prominent Ethereum (ETH) competitor is gearing up to spark a rally.

Large-Cap Ethereum Rival Forming a Bullish Pattern That Could See It Surge by up to 63%, Says Crypto Trader

The agency's decision to put a pin in its arguments about Solana's security status has some legal experts optimistic—and others skeptical.

Is the SEC Backing Off Solana? It's Complicated

Over the past 30 days, Ethereum (CRYPTO: ETH) is down 8%, while Solana (CRYPTO: SOL) is up 9.5%, sparking a debate among traders about this curious divergence. What Happened: Crypto trader Javon Marks noted that Ethereum's current price means a “hidden bull”, similar to the last time when it led to a surge over 162%.

Ethereum Down 8% Last Month, Solana Up 9%: What Is Going On?

Bonk

Shiba Inu

Pseudonymous trader CrediBULL Crypto predicts a more severe "meme wipeout" than initially expected for Bonk (CRYPTO: BONK), cautioning traders to prepare for significant downside. What Happened: "If I'm right about what I'm seeing across the board this meme wipeout will be worse than I thought," he tweeted.

Bonk, Solana's Answer To Shiba Inu, Could See 60% More Downside, Warns Trader: 'It's Going To Be Nasty'

A widely followed cryptocurrency trader and analyst is expressing bearish sentiment on the broader digital assets market. The trader pseudonymously known as Bluntz tells his 266,600 followers on the social media platform X that the crypto assets space is likely to experience a “minimum two weeks of broader market downturn.

Top Trader Says Wider Crypto Market Downturn Incoming, Outlines Path Forward for Bitcoin and Solana

Dapps like Raydium, Pump.Fun and Jito have been the top fee generators on the Solana blockchain, data shows.

Raydium, Pump.Fun and Jito lead as Solana's top fee generators

A closely followed crypto analyst believes that one Ethereum (ETH) competitor is gearing up for a massive breakout. Jamie Coutts, the chief crypto analyst at Real Vision, says that Solana (SOL) is printing a bullish pattern against Bitcoin (BTC) based on the simple moving average (SMA) crossover on the daily chart.

Solana on the Verge of a Breakout, Says Real Vision's Jamie Coutts – Here's His Outlook

The crypto investment firm has purchased another 23,000 SOL tokens, bringing its total to $21.6 million, making it its second-largest holding.

Cypherpunk Holdings doubles down on Solana — again

Decentralized exchange Raydium launched a meme coin called CTO using a new crypto launchpad, but things didn't go according to plan.

Solana DEX Raydium's Meme Token Launch 'Didn't Exactly Go as Expected'

Solana has fallen more than any of the top 10 cryptocurrencies, bringing its meme coins with it. One of the newly launched Neiro coins has lost 44%.

Solana Down 8% as Its Meme Coins Dogwifhat, Billy, and Neiro Fall Further

Venture capitalist Chris Burniske believes Solana (SOL) can soar to a four-figure price this market cycle. The former head of crypto at ARK Invest tells his 296,900 followers on the social media platform X that a bull market price target of $1,000 for Solana could be “conservative.

Investor Chris Burniske Unveils ‘Conservative' Solana Price Target, Says SOL ‘Virus' Spreading Is Ahead

A new report raises serious questions about the true health of the Solana (CRYPTO: SOL) ecosystem, suggesting that its meteoric rise may be built on a foundation of sand. What Happened: The report by Flip Research, titled “SOL- The Emperor's New Clothes,” suggests that up to 93% of Solana's trading activity may be non-organic, fueled by wash trading, rug pulls, and exploitative MEV practices.

Inflated Solana Metrics Mean It's 'Overvalued' Compared To Ethereum, Report Claims

XRP and SOL led the charge in overnight trading, driving the CoinDesk 20 Index 1.3% higher.

CoinDesk 20 Performance Update: XRP and SOL Outperform as Index Climbs 1.3%

Solana's native token, SOL, experienced a notable 16% surge between July 25 and July 29, reaching a four-month high of $193.92.

News for Solana Crypto (SOL)