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

Dogecoin

Donald and Melania Trump's respective tokens have stolen the spotlight from Dogecoin and other long-running meme coins.

Dogecoin Down 15% Since Trump's Solana Coin Dropped as Meme Momentum Shifts

Chainlink (LINK) joined Solana (SOL) as a top performer, gaining 4.3%.

CoinDesk 20 Performance Update: SOL Surges 16% as Index Inches Higher From Friday

The fee surge was triggered by heavy user engagement in on-chain transactions amid the launch of the TRUMP and MELANIA memecoins.

Solana's daily fees hit record high of $33 million as Trump family memecoins boost network volume

Daniel Prince, host of the Once Bitten podcast, has recently alleged that conflicts of interest and nepotism were part of the motivation for choosing Solana as the chain for launching TRUMP, the official meme token of the U.S. president.

Launch of Trump Solana Meme Token Marred by Conflicts of Interest and Nepotism Allegations

Google search trends for “buy crypto” and “buy Solana” have soared following the launch of the Official Trump (TRUMP) memecoin.

Trump Memecoin Sparks 100% Surge in 'Buy Crypto' and 'Buy Solana' Search Volumes

The Solana (CRYPTO: SOL) blockchain experienced significant network congestion on Monday as enthusiasm around President-elect Donald Trump-themed meme tokens triggered unprecedented transaction volumes, leading to technical difficulties for key infrastructure provider Jito Labs. What Happened: Jito Labs reported “severe degradation” of its Block Engine API due to “unprecedented load levels,” though the company later confirmed service stability had improved following emergency mitigation efforts.

Solana Blockchain Faces Network Congestion As Trump And Melania Meme Tokens Surge: What You Need To Know

Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.

Solana Bags Record Daily Fees of $35M Amid Trump Memecoin Frenzy

The launch of Donald Trump's official memecoin on Solana has not only boosted the cryptocurrency's price and trading volume, but also perceived odds of a SOL ETF.

Solana's TVL Crosses $10B for First Time Since FTX Collapse After TRUMP Memecoin Launch

On Jan. 19, at approximately 5:30 a.m. ET, solana (SOL) achieved a record-breaking milestone, climbing to an unprecedented $293 per coin. Since the beginning of Jan., SOL has advanced over 42% in value relative to the U.S. dollar.

$293 Peak High: Solana's Growth Pushes Boundaries Amid Meme Coin Frenzy

Bitcoin

Ethereum

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Several financial giants are reportedly filing for crypto-related exchange-traded funds (ETFs) as they anticipate the departure of Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC).

VanEck and Others File for Crypto-Related ETFs As Issuers Anticipate Departure of SEC Chair Gary Gensler: Report

Donald Trump's official meme coin blasted above $73 early Sunday as Solana pumped—and Dogecoin dipped further.

Official Trump Solana Meme Coin Triples in Price Amid Binance, Coinbase Listings

Litecoin

A Bloomberg analyst predicted that a Litecoin exchange-traded fund might be the next crypto ETF to win approval from the SEC.

Wave of ETF filings proposes Litecoin ETF, XRP and Solana leveraged funds, and more

Donald Trump's official memecoin hit $44 early Sunday, up more than 900% over the past 24 hours.

Solana Hits $275 Lifetime Peak as Official Trump Memecoin Surges to $8B

Solana is riding the TRUMP wave, jumping to a new all-time high price after the network played host to Donald Trump's official meme coin.

Solana Spikes to All-Time High Price as TRUMP Doubles Dogecoin Trading Volume

A closely followed crypto strategist and trader thinks one Ethereum (ETH) competitor is gearing up for a breakout. Pseudonymous analyst Inmortal tells his 223,100 followers on the social media platform X that Solana (SOL) may be forming a bullish pattern on the daily chart and could surge more than 18% from its current value.

Analyst Says Top Ethereum Rival Is Starting To ‘Look Good Again,' Outlines Path Forward for Bitcoin and Stacks

Solana traded to as high as $268.75 on Saturday morning, according to CoinMarketCap, eclipsing its previously all-time high.

Solana hits new all-time high, DEX tokens surge amid Trump memecoin frenzy

Solana's SOL token rocketed after a meme coin linked to President-elect Donald Trump launched on the popular blockchain network.

Solana surges 12% on launch of Trump-themed memecoin, ether falls

Trader demand for Solana's SOL rose as Donald Trump's so-termed official token was issued on the network.

XRP, Ether Dive as Trump Memecoin Bumps Solana 9% Higher

Donald Trump is promoting a Solana meme coin from his social media accounts. Elaborate hack or a truly wild new era for crypto?

Did Donald Trump Really Just Drop a Solana Meme Coin?

Solana (SOL) and XRP both outperformed the overall crypto market on Thursday amid a report that President-elect Donald Trump is thinking about establishing an “America First” strategic crypto reserve.

XRP and Solana Surge in Price Amid Rumors Trump Is Considering ‘America First' Crypto Reserve: Report

One of the biggest looming questions is will the new administration facilitate the launch of spot ETfs which track the price of Solana.

Solana ETFs: How a 2025 launch could play out

Bonk

Prominent crypto trader Unipcs has argued that Solana (CRYPTO: SOL) flipping Ethereum (CRYPTO: ETH) this cycle is a real possibility, citing metrics and momentum as reasons for his thesis. What Happened: Unipcs contends that Solana has outperformed Ethereum in transaction volume and on-chain activity, positioning itself as a leader in blockchain adoption.

SOL Has A 50% Of Flipping Ethereum, Bonk To Become The Shiba Inu Of Solana, Trader Posits

Bloomberg Intelligence analyst James Seyffart has reflected on the remarkable success of spot Bitcoin (CRYPTO: BTC) ETFs and the potential problems in altcoin ETF approvals in 2025. What Happened: In a recent Blockworks Macro episode, Seyffart pointed out four Bitcoin ETFs now rank in the top 20 ETF launches of all time, with iShares' (NASDAQ:IBIT) leading the way.

Bitcoin ETFs Outperform In First Year, But Solana, XRP ETFs Face Challenges, Expert Says

President-elect Donald Trump is set to move back into the White House on Monday after he officially assumes office, kicking off a flurry of speculation about immediate crypto-relation action, such as support for a U.S. crypto reserve. Benzinga talked to cryptocurrency experts, who are divided on the likelihood of immediate executive orders, but largely bullish on the near-term market outlook.

News for Solana Crypto (SOL)