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

With Solana on the rise, the network's DeFi ecosystem has enjoyed a hefty surge. That could change soon, though.

Solana's Total Value Locked Hits New High for 2023

The latest price analysis by Coinidol.com report, the price of Solana (SOL) has broken above resistance at $20.50, while buyers are targeting the high of $22.

Solana Outperforms Resistance But Remains Below $22.00 High

Bitcoin

Short liquidations on crypto-tracked futures may have contributed to the rise in bitcoin and ether.

Bitcoin Surges Over $28K; Solana Leads Alts Gains as Crypto Bears Lose $94M

Chainlink rose for a fourth straight day to start the weekend, as the price surged by as much as 7% in today's session. The move pushed the token to a two-month high, breaking out of a key resistance level in the process. Solana extended recent gains on Saturday.

Biggest Movers: LINK Races to 2-Month High, SOL Extends Gains

Ethereum

A popular cryptocurrency trader believes that one mid-cap altcoin project is showing high growth potential. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,400 followers on the social media platform X that decentralized derivatives exchange Injective (INJ) is forming a bullish pattern. “INJ: high timeframe higher low [price] is here. This looks very healthy.

Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy', Updates Outlook on Bitcoin, Ethereum and Solana

XRP was one of Friday's notable crypto gainers, rallying to a one-month high earlier in today's session. Bullish sentiment returned to end the week, with the global market cap trading nearly 1.5% higher as of writing. Solana also surged, moving back above the $20.00 mark.

Biggest Movers: XRP Hits 1-Month High, SOL Back Above $20

Cardano

Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.

Bitcoin Traders Eye $28K; Solana, Cardano and Tellor Lead Altcoin Bump

Pepe

A closely followed crypto strategist is predicting a big move to the downside for one Dogecoin (DOGE) rival after forming a bearish structure. Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that Pepe (PEPE) could retrace recent gains and dip by more than 16% from its current value.

Trader Says One Dogecoin and Shiba Inu Rival Is Set for Big Correction, Updates Outlook on Bitcoin and Solana

Polygon

Rated Labs raised $12.9 million in Series A funds with the hope of expanding into Layer 2 networks. What Happened: Crypto venture firm Archetype led the fundraising effort, which included other seed investors, The Block reported.

Ethereum-Focused Crypto Startup Scores $13M In Funding For Polygon, Solana Growth

Rated Labs, a crypto startup that offers infrastructure datasets for Ethereum, has raised $12.888 million in Series A funding.

Ethereum explorer Rated raises $12.89 million to expand to other blockchains, including Polygon and Solana

A closely followed crypto strategist is warning that Bitcoin (BTC) and two other altcoins could collapse in price amid ongoing bearish market structures. Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that he's expecting Bitcoin to potentially decline by more than 20% from its current value.

Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) Could Be on the Edge of Dramatic Capitulations, Warns Trader

DePINs provide a revenue-generating opportunity analogous to today's gig economy, according to Solana Foundation DePIN lead Kuleen Nimkar.

Solana DePIN projects aim to take gig economy to next level

A Friend.tech clone has emerged on Solana, generating nearly half the weekly trading volume of the leading incumbent.

Solana Friend.tech Fork Friendzy Volume Edges Towards $1M After Just One Week

Digital asset investment products faced a sixth consecutive week of outflows, with crypto funds shedding $9 million last week.

Crypto funds see sixth straight week of outflows; XRP, Solana continue to buck trend

Cryptocurrency price analysis brought by Coinidol.com. Solana (SOL) is trading sideways below the $20.50 level.

Solana Holds Above $19 And Reaches The Overbought Area

Former Goldman Sachs executive macro guru Raoul Pal, on Wednesday, shared his optimistic outlook for the cryptocurrency market, referring to the current phase as “crypto spring” and anticipating an upcoming “macro spring.” "We are in ‘crypto spring' right now, about to enter macro spring," he said.

Crypto Market Analysis: Macro Guru Raoul Pal Forecasts Long Recession: 'Solana Will Massively Outperform Bitcoin'

Eclipse, an organization that allows for the construction of customizable rollups, has announced the architecture of its Eclipse mainnet, a Solana-powered Ethereum layer two (L2) scaling rollup. The rollup will benefit from using the Solana Virtual Machine as an execution layer, leveraging this blockchain's various security and performance benefits.

Eclipse Announces Solana-Powered Ethereum Rollup

According to statistics, Coinbase's Layer two (L2) blockchain, built on Ethereum and using Optimism's open-source OP Stack, has grown significantly in the past 41 days. Since August, when the platform had a total value locked (TVL) of $175 million, the figure has increased 111% to $370 million.

Coinbase's L2 Blockchain Base Skyrockets 111% in 41 Days, Overtaking Solana in TVL

Number of daily active addresses on Solana hit a low point, but supporters of the network say that shouldn't be a reason for much concern.

Solana's decline in active addresses is only part of the story

Eclipse has announced the mainnet launch of its new general-purpose layer 2 scaling solution powered by the Solana Virtual Machine (SVM).

Eclipse Launches Ethereum Layer-2 Running on the Solana Virtual Machine

Cryptocurrency price analysis brought by Coinidol.com. The price of Solana (SOL) is in a bearish trend zone, but correcting upwards.

Solana Is On The Move And Is Aiming For The $22 Mark

Former Goldman Sachs executive Raoul Pal says that Solana (SOL) is one of his top altcoin picks and is potentially the most promising project outside of Ethereum (ETH).

Ex-Goldman Sachs Executive Lays Out Bull Case for Ethereum Rival Solana, Says SOL Best Story Outside of ETH

Digital assets manager CoinShares reports that Cardano (ADA), Solana (SOL) and XRP products are bucking the trend of an otherwise pessimistic institutional investment climate. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says investors are currently less optimistic as reflected in outflows over eight of the last nine weeks totaling over $450 million.

Cardano, Solana and XRP See Institutional Inflows While Bitcoin and Ethereum Investments Slide: CoinShares

Pseudonymous crypto analyst Altcoin Sherpa expressed concerns over Solana's (CRYPTO: SOL) current upward trajectory. In a series of tweets, the trader warned of a potential sell-off, suggesting that the cryptocurrency might take some time to establish a solid bottom.

Solana's Upward Trajectory Could Be Short-Lived, Analyst Warns: 'Slowly Scale In'

Bitcoin Cash

Solana neared the $20.00 level on Monday, as bullish sentiment returned to cryptocurrency markets to start the week. The rise in momentum comes as focus shifts to the upcoming Federal Open Market Committee (FOMC) meeting. Bitcoin cash was another notable gainer today. Solana (SOL) Solana bulls pushed the token towards the $20.

News for Solana Crypto (SOL)