“We believe the native token, SOL, functions similarly to other digital commodities such as bitcoin and ETH,” VanEck’s head of digital assets research, Matthew Sigel, wrote in a post on X arguing that SOL is a commodity, not a security. “It is utilized to pay for transaction fees and computational services on the blockchain,” he wrote. Source
The U.S. presidential election could provide a breakthrough for additional crypto ETFs like SOL, per the research note shared with CoinDesk. If Trump becomes president again, he could shake up the established playbook for launching crypto ETFs, which usually takes years and starts with the introduction of federally regulated futures contracts – something solana lacks. Source
Solana has been thrown into a tailspin after a shocking revelation: its daily stablecoin volume may have been significantly inflated. Reports indicate a staggering drop – from a dizzying $75-100 billion to a mere $7 billion in a 24-hour period. This dramatic shift has unsettled the crypto community, raising serious questions about the legitimacy of Solana’s past performance and its future as a DeFi powerhouse. Related Reading Wash Away The Hype: Inflated Figures Or Fabricated Reality? Market sentinels are pointing fingers at wash trading, a manipulative practice where investors essentially…
Nearly a month after Caitlyn Jenner launched her JENNER token, the celebrity memecoin frenzy continues. This time, iconic heavy metal band Metallica joined the list of public figures involved with Solana tokens. However, the band’s participation in the crypto industry was yet another X account hack targeting investors. Solana-Based METAL Takes Over Crypto The iconic heavy metal band Metallica recently announced a collaboration with the popular videogame Fortnite. The collaboration seemingly aims to bring the band’s music to a new demographic of music enjoyers. Nonetheless, the announcement was eclipsed by…
The Solana Foundation recently launched two new tools to facilitate the integration of Web3 capabilities into mainstream platforms and the adoption of blockchain. In a series of social media posts, the foundation launched “Actions” and “Blockchain Links” (Blinks), which, according to the announcement, is a step forward in allowing developers to build blockchain functionality into websites and social media platforms. Alongside these developments, the Solana ecosystem continues to expand its tooling and services, with notable advancements in transaction cost reduction and network efficiency. Seamless Web3 Transactions? Actions, one of the…
The Solana bearish price action might be coming to a close, as many cryptocurrencies have started to show mixed price action in the past 24 hours. Dialing the price action further back shows Solana has been mostly bearish and has been on a price decline since the beginning of the month. Notably, the crypto recently reached a 30-day low of $123.96, representing a 29% decline from a monthly high of $174.65. However, some proponents remain undeterred and are still looking forward to a bullish Solana on the long run. Particularly,…
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An analyst has pointed out how Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator. Shiba Inu, Solana, & Cardano Form Buy Signal Following Market Crash In a new post on X, analyst Ali Martinez has talked about how a Tom Demark (TD) Sequential signal has formed for Shiba Inu, Solana, and Cardano recently. The “TD Sequential” here refers to an indicator in technical analysis (TA) that’s generally used for finding probable points of reversal in any asset’s price. This…
The Solana price has experienced a sharp decline over the past month in line with the broader market correction, intensifying concerns as rumors of a potential investigation into the popular blockchain platform have recently surfaced. Regulatory Storm Brewing? In a social media post on X (formerly Twitter), market expert Crypto Bitlord, who has a considerable following of over 300,000 people, hinted at a rumored investigation into Solana. The post read: We are hearing rumors that SOL is under investigation and a huge case is about to be made public. This…
Mert Mumtaz, CEO of Solana’s development platform Helius Labs, recently shared “big news” that presents a bullish outlook for the Solana ecosystem. This development could also positively impact Solana’s price, which has recently been on a downtrend. A New Dawn For Solana Mumtaz mentioned in an X (formerly Twitter) post that “ZK compression” is being introduced directly on the Solana network without requiring layer-2 networks. He claimed that this changes everything and every impression one has about Solana and scaling layer-1 networks. Mumtaz further explained what the ZK compression is…