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

According to stablecoin transfer volume metrics divided by blockchain, Solana's daily transfer volume has decreased from a range of $75 billion to $100 billion daily to around $7 billion daily. Additionally, a crypto advocate expressed doubts about the legitimacy of Solana's previous stablecoin transfer volumes, indicating that the metrics were highly overstated.

Solana's Stablecoin Transfer Volume Drops Drastically Amid Scrutiny

A new report has forecasted a significant price increase for Solana if a Solana (CRYPTO: SOL) exchange-traded fund (ETF) is approved. The report, by market maker GSR, suggests that under a Trump administration, regulatory changes could pave the way for a Solana ETF, leading to substantial inflows and a corresponding rise in SOL's price.

Here's How Much SOL Could Surge If Solana ETFs Get Approved

The launch of a spot Solana (SOL) exchange-traded fund (ETF) in the United States might depend on a shift in administration and changes in the leadership.

New US President, SEC Could Pave Way for Approval of Spot Solana ETF, Bloomberg ETF Analyst Says

Bitcoin

Dogecoin

Ethereum

Leading cryptocurrencies ascended Thursday as the market celebrated the entry of Solana (CRYPTO: SOL) in the now hot spot exchange-traded fund for digital assets in the U.S. Cryptocurrency Gains +/- Price (Recorded 8:30 p.m. EDT) Bitcoin (CRYPTO: BTC) +1.14% $61,490.42 Ethereum (CRYPTO: ETH) +2.26% $3,439.83 Dogecoin (CRYPTO: DOGE) +3.55% $0.1269 What Happened: Market bellwether Bitcoin dramatically spiked to $62,300 after asset manager VanEck filed an S-1 registration form with the SEC for a spot Solana ETF.

Bitcoin, Ethereum, Dogecoin Edge Higher As Market Cheers Solana Spot ETF Filing: Analyst Forecasts King Crypto's Bounce To $66K If This Condition Holds

Cryptocurrency markets are up ahead of the Trump-Biden U.S. Presidential election debate, with a Solana spot ETF application as the main catalyst. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $61,464.37 +1% Ethereum (CRYPTO: ETH) $3,449.60 +2% Solana (CRYPTO: SOL) $148.18 +8.5% Dogecoin (CRYPTO: DOGE) $0.1244 +0.6% Shiba Inu (CRYPTO: SHIB) $0.0000175 +1.5% Notable Statistics: IntoTheBlock data noted a 15.9% increase in large transaction volume.

Bitcoin, Ethereum, Dogecoin Rally, VanEck Files Solana ETF Application, But... 'Don't Get Too Excited Yet,' Warns Trader

Crypto market-maker GSR is bullish on Solana's ETF prospects in the U.S.—particularly if Donald Trump is elected as president in November.

Solana ETFs Could Beat Bitcoin Gains, Be Fast-Tracked in Trump Admin: GSR

A closely followed crypto trader says that one memecoin that has seen massive gains during the last five months looks ready to surge even higher. In a new strategy session, crypto analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that meme assets are recovering nicely from the latest market crash.

Trader Says Memecoin That's Exploded Over 3,000% in Five Months Primed To Go Higher, Updates Outlook on Solana

Wormhole will tap Solana-based protocols to verify user's Worldcoin World IDs that were originally verified on Ethereum.

Solana Will Get Support for Worldcoin's World ID

The Solana (CRYPTO: SOL) ETF application by VanEck has sparked a 9% rally on Thursday, with traders debating whether more upside is to come. What Happened: Crypto trader Ng Ah Sio shared that he had been increasing his Solana holdings since it touched support zone.

Solana's 9% Gain Means It Will Be 'The Fastest Horse If Risk-On Sentiment Returns,' Says Trader

It's unlikely VanEck's bid to be first to market with an ETF for Solana will be approved in the short term, experts say.

Crypto pundits doubt Solana ETF will find approval any time soon — at least under this administration

Following Vaneck's application with the U.S. Securities and Exchange Commission (SEC) to launch a solana-based exchange-traded fund (ETF), solana has appreciated 8.1% against the U.S. dollar. Apart from bitcoin, ethereum, and stablecoins, solana now boasts the highest daily trade volume among all other crypto assets on market aggregation platforms.

Solana Climbs 8.1% Following Vaneck's SEC Filing for SOL-Based ETF

Solana (CRYPTO: SOL) investors saw a price surge of over 6% on Thursday after asset manager VanEck filed an S-1 registration form with the SEC for a Solana exchange-traded fund (ETF). What Happened: This marks the first attempt at a Solana ETF in the U.S., following a similar product launch in Canada just six days prior.

VanEck Files Solana ETF Application, SOL Rallies 6%

GSR trumpeted Solana's “superior technology” and a changing U.S. political landscape for why a spot SOL ETF could be next in line.

Market maker GSR goes long on SOL, expecting it to outperform BTC

Solana's price jump comes as a response to VanEck's filing for a spot Solana ETF, marking a potential shift in the cryptocurrency's market trend.

Solana Price Spikes After VanEck Files for First ETF in US

In a significant expansion of its cryptocurrency offerings, Vaneck has announced the filing of the first U.S. exchange-traded fund (ETF) focused on Solana. This move marks a strategic enhancement of Vaneck's digital asset products, according to Matthew Sigel, head of digital asset research.

Vaneck Seeks SEC Approval for Solana-Based ETF

Solana surged over 6% minutes after VanEck filed a spot Solana ETF with the Securities and Exchange Commission.

SOL spikes 6% following VanEck's spot Solana ETF filing

The filing, submitted on Thursday, June 27, 2024, marks the first attempt to create a Solana ETF in the United States.

VanEck Files for Solana ETF in the US

Solana ETFs could be the next big push after Bitcoin and Ethereum approvals in the United States, as VanEck files for the first attempt.

VanEck Files for Solana ETF in US, Following Bitcoin and Ethereum Approvals

Fund manager VanEck filed for an ETF that would track the price of Solana, according to a filing released on Thursday.

VanEck files for Solana ETF in the US, claiming SOL is a commodity

Asset manager VanEck has filed an S-1 registration form for a Solana exchange-traded fund (ETF), prompting SOL to jump by more than 5%.

VanEck Files for Solana ETF, SOL Rises 6%

Investment manager VanEck filed to list an exchange-traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday.

Investment manager VanEck files to list spot Solana ETF

Under the Biden administration, Solana (SOL) appears nowhere close to getting its own ETF in the U.S. But, according to market-making firm GSR, if Donald Trump retakes the White House, it might be closer than many observers think and price-wise have far more upside than bitcoin (BTC) did when its spot ETF debuted.

Solana ETFs and Huge SOL Gains a Real Possibility Under Trump, Major Crypto Trader Says

Pump.fun has been making up, on average, 35% of Solana's total fee revenue over the past two months.

Pump.fun's daily fees plummet 30% amid market turbulence and SOL decline

The official X account of the world-famous heavy metal band, Metallica, was exploited to promote a Solana (CRYPTO: SOL)-based memecoin. What Happened: Widely-followed cryptocurrency influencer Ricards posted late Tuesday night about the scam, sharing a now-deleted post that showed hackers falsely advertising a token called METAL, in collaboration with ticketing giant Ticketmaster and cryptocurrency payments platform MoonPay.

Crypto Scam: After Rapper 50 Cent, Heavy Metal Band Metallica's Social Media Hacked To Promote Solana-Based Memecoin

The Solana Foundation has unveiled a feature designed to seamlessly connect its blockchain to any website via a shareable link.

News for Solana Crypto (SOL)