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

Total market capitalization rose 8% to reach levels not seen since mid-August.

Bitcoin Leads Crypto Majors' Gains; Analysts Bullish on SOL After 30% Weekly Jump

Digital assets manager CoinShares says Ethereum (ETH) rival Solana (SOL) is an institutional favorite as the crypto market boils over with Bitcoin (BTC) exchange-traded fund (ETF) fervor.

Solana Leads the Way As Institutions Pour Millions Into Crypto Markets Amid Bitcoin ETF Excitement: CoinShares

Chainlink

An analyst who nailed the top of Bitcoin's (BTC) 2021 bull market thinks that the crypto king is gearing up for an explosive rally. Pseudonymous analyst Pentoshi tells his 703,300 followers on the social media platform X that Bitcoin's gradual ascent as of late is setting BTC up for a massive move to the upside.

Top Trader Says Bitcoin Slow Grind Up Could Lead to Much Larger Moves, Updates Outlook on Solana and Chainlink

Digital asset investment products saw net inflows for the fourth consecutive week totaling $66 million, according to CoinShares.

Crypto funds see fourth week of net inflows, with Solana taking largest altcoin share

Solana's largest decentralized finance (DeFi) protocol, Marinade Finance, has blocked users in the United Kingdom from accessing the site due to "compliance concerns" over Financial Conduct Authority (FCA) regulations.

Solana's Largest Defi Protocol Marinade Starts Blocking UK Users

A top trader who nailed Bitcoin's (BTC) 2018 bear market bottom believes that the floodgates will open for Solana (SOL) once it takes out the resistance of its multi-month accumulation range.

Floodgates Will Get Unleashed for Solana Once SOL Takes Out This Level, Says Top Crypto Trader

Solana has undoubtedly been one of this week's biggest gainers, with price rallying by as much as 33% in recent days. The move comes as the global crypto market cap remained mostly in the green to start the weekend. Chainlink was another big mover, hitting a three-week high.

Biggest Movers: SOL Rallies Towards $30, Following 33% Surge in Price

Solana led an altcoin rally that follows bitcoin's week of steady gains, with the token posting a 25% gain in the past week.

Major altcoins gain ground, closing in on bitcoin's week-long rally

Former Goldman Sachs executive Raoul Pal believes Ethereum (ETH) competitor Solana (SOL) will usher in a “crypto summer” next year. The macroeconomic expert tells his 996,800 followers on the social media platform X that Solana is forming a classic bullish pattern that could eventually lead to a more than 86% increase from its current value.

Ethereum Rival Solana Will Usher In ‘Crypto Summer' in 2024, Says Macro Guru Raoul Pal – Here's His Outlook

Bitcoin, usually the market pace-setter, was far outpaced by Solana, Bitcoin Cash and XRP.

This Week in Coins: Solana Explodes 25%, Bitcoin Reclaims $30K on ETF Hopes and Ripple Wins

Solana (SOL) jumped 11% Friday, and is one of the best performing crypto assets this year with a 170% gain.

Solana Rallies 26% in a Week Despite FTX Sale Fears; What's Behind the Move?

As the crypto market rebounds, the price of Solana's native token SOL has seen its price hit a 3-month high above $26.

Solana Soars 12% Overnight as Crypto Market Recoups $43 Billion

Cosmos

Solana snapped a two-day losing streak on Thursday, as bulls pushed price back towards the $25.00 level. The cryptocurrency was unable to move past this level on Monday, which then prompted the aforementioned sell-off. Cosmos continued to edge lower today, falling to its lowest level in 16 months.

Biggest Movers: SOL Moves Back Towards $25, ATOM Hits 16-Month Low

Lido Finance, a decentralized liquid staking technology, is ceasing operations on the Solana blockchain.

Lido Shuts Down Solana Liquid Staking Service Following Community Vote, Citing Low Fees

A widely followed crypto analyst is naming a number of potential bullish catalysts for Ethereum (ETH) competitor Solana (SOL). In a new video, the anonymous host of InvestAnswers tells his 447,000 YouTube subscribers that Solana is receiving more mainstream attention amid key program developments. “I see a number of different tailwinds for Solana.

Here Are the Major Tailwinds for Ethereum Rival Solana, According to Crypto Analyst

The staking service for SOL tokens will be discontinued over the coming months, developers said.

Lido Finance Sunsets Solana Staking Product After DAO Vote

The Dubai Multi Commodities Centre (DMCC), one of Dubai's economic free zones, has welcomed the Solana Foundation into its ecosystem partner network.

Solana Foundation Joins Dubai Multi Commodities Centre (DMCC) as an Ecosystem Partner

A closely followed crypto strategist says that one altcoin with a market cap of $1.934 billion looks anything but bullish. Pseudonymous trader Altcoin Sherpa tells his 196,800 followers on the social media platform X that the native asset of the interoperable blockchain ecosystem Cosmos (ATOM) appears poised for more downside price action.

Analyst Says One Altcoin Looking Ugly, Updates Outlook on Solana and One Additional Crypto Asset

Cardano

Digital assets manager CoinShares says XRP, Solana (SOL) and another Ethereum (ETH) rival are being favored by institutional investors in 2023 so far. In its latest Digital Asset Fund Flows report, CoinShares finds that institutional investors have poured more money into Solana, XRP and Cardano (ADA) this year than any other altcoin, including ETH.

Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

The estate belonging to the now-defunct crypto exchange FTX was just spotted staking over $144 million worth of Ethereum (ETH) rival Solana (SOL) as the firm's bankruptcy process unfolds. According to blockchain explorer SolanaFM, the address associated with FTX and its trading arm Alameda Research created a new stake of 5,546,217.04 SOL tokens.

Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

Solana-based multisig protocol Squads has raised $5.7 million in strategic funding from Placeholder VC, Multicoin Capital and others.

Solana-based multisig protocol Squads raises $5.7 million from Multicoin, Placeholder and others

Bitcoin Cash

Bitcoin cash was a huge gainer on Monday, as the cryptocurrency rallied by as much as 14% in today's session. The surge comes after Cointelegraph falsely suggested that Blackrock's bitcoin ETF was approved by the SEC. An apology has since been issued, following the mistaken report. Solana also hit a multi-week high on the news.

Biggest Movers: BCH, SOL Big Gainers Following Cointelegraph's ‘Inaccurate' Tweet

Ethereum

On-chain transfers this weekend revealed that the FTX estate has moved to stake its massive SOL stash rather than selling off the assets.

FTX Estate Stakes $122 Million Worth of Solana, $5 Million in Ethereum

Over 5.5 million Solana (SOL) were sent by an FTX-identified wallet to Figment, a staking validator service catering to institutional investors.

FTX Estate Stakes 5.5 Million Solana Worth $122M

Addresses tied to the bankrupt crypto exchange controlled by a creditors' group have apparently staked the tokens to earn yield, blockchain data suggests.

News for Solana Crypto (SOL)