Tag: Solana

‘We were worried about ecosystem startups’ — Solana co-founder on FTX collapse

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The infamous collapse of FTX sent shockwaves through the broader cryptocurrency space in 2022, but the Solana ecosystem was particularly hard hit in the fallout. Speaking exclusively to Cointelegraph at the latest edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and Solana Labs CEO Anatoly Yakovenko recalls his concern for several projects that were building on the layer-1 smart contract blockchain protocol. “I was more worried about the ecosystem of startups; we didn’t know how exposed teams were,” Yakovenko explained. Solana’s native token, SOL (SOL), saw a…

Solana Bulls Charging – Could $50 Be Just Around The Corner?

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FOR UPDATE… Solana has demonstrated remarkable resilience on its bullish trajectory, despite experiencing minor setbacks in the 24-hour timeframe. Recent on-chain data reveals the altcoin concluded the month of October with an impressive 62% gain.  This surge in performance has garnered substantial attention, with Santiment reporting a growing Solana social dominance. According to their data, nearly 2% of all discussions concerning the top 100 assets are now related to SOL. This increasing chatter around the altcoin suggests a notable uptick in interest and optimism, aligning closely with its rising price.…

Solana up 38% in a week, but it could soon crash

The price of Solana’s (SOL) token has surged over the past week, rising nearly 35% to hit a price of $42.41. This latest rally brings Solana’s gains to over 322% year-to-date. According to a Nov. 2 analysis by Altcoin Daily, surge in Solana’s price can be attributed to various developments and factors. The ongoing Solana Breakpoint conference in Amsterdam is generating a buzz, bringing together influential figures from the Solana community and generating excitement about its future prospects. On another front, the bullish report from investment management firm VanEck suggests…

Solana Price’s 40% Rally Persuades Detractor, Arthur Hayes Makes Confession

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Supported by a spike in volatility, the Solana price has skyrocketed from its yearly lows into a new high. The bullish momentum left some players in disbelief, while others capitulated to the price action and tried to capture some of the profits. As of this writing, SOL trades at $40 with sideways movement in the last 24 hours. Over the previous week, the cryptocurrency recorded a 30% profit, but the monthly chart saw a 70% increase, while other tokens hardly saw double-digit gains. SOL’s price trends to the upside on…

Solana (SOL) Price Is Down 15% Since Hitting a 14-Month High. Is the Rally Over?

Lookonchain pointed out that the last two Novembers have not been good ones for SOL. While the reasons seem obvious – early November 2021 was the epic top of the entire cryptocurrency market and November 2022 included the FTX meltdown – Lookonchain noted that the Solana Breakpoint conference, an annual gathering for the ecosystem, is an early November event (this year’s version is currently taking place in Amsterdam) and has coincided with local tops in price. Source

Solana Whales Deposit To Exchanges, Selloff Incoming?

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Data shows Solana whales have made large transactions towards exchanges during the past day, which could signal a selloff. Solana Whales Have Deposited Tokens Worth $34.1 Million To Binance According to data from the cryptocurrency transaction tracker service Whale Alert, a few large SOL transfers have occurred on the Solana blockchain during the past day. Three of the transactions were all headed towards a centralized exchange: Binance. The first of these saw the movement of 256,652 SOL (worth about $11.3 million at the time of the transfer), the second 249,999…

‘I just bought SOL’ — Arthur Hayes after Solana price rebounds 500%

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Arthur Hayes, the former CEO of crypto derivatives exchange BitMEX, has “admitted” to buying Solana’s SOL (SOL) at its possible local top, stressing his bullish outlook for the cryptocurrency. Fam I have something embarrassing I must admit. I just bot $SOL, I know its a Sam-coin piece of dogshit L1 that at this point is just a meme. But it is going up, and I’m a degen. Let’s Fucking Go! — Arthur Hayes (@CryptoHayes) November 2, 2023 SOL’s price has rallied 500% in 11 months Hayes’ self-admitted SOL purchase occurred…

Why everyone is talking about Solana in 2023

Solana surges in 2023, joining top blockchains with its unique tech, large user base, and promising price forecasts, challenging Ethereum’s dominance. As of 2023, Solana (SOL) has earned its place among the top 3 layer-1 blockchains, sharing the spotlight with giants like Ethereum (ETH) and Binance Chain (BNB).  What’s particularly intriguing is that while Solana’s market capitalization sits at about 7.5% of Ethereum’s at nearly $16.5 billion, its daily active user base stands at 66% of Ethereum’s, signaling an engaged and growing community. Over the last 30 days, SOL’s price experienced…

Solana Welcomes November With $40 Breach

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The first day of November marked an eventful moment in the cryptocurrency market as altcoins surged vigorously, led by impressive gains of Solana. This rally in Solana’s value set the tone for a day where altcoins gained significant traction. (Concurrently, Bitcoin experienced a late rally, breaching the $35,500 mark. This unexpected surge in Bitcoin not only solidified its position but also contributed to the overall bullish sentiment in the market.) The day’s dynamic movements highlighted the growing influence of altcoins, particularly Solana, showcasing their capacity to drive market trends. This…

Solana gains 80% in a month as Firedancer goes live on testnet

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Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the testnet launch of the blockchain’s loawaited scaling solution Firedancer. SOL reached over $41 on Nov. 2 touching highs it hasn’t seen since August last year, Cointelegraph Markets Pro data shows. Long touted as an “Ethereum killer” — SOL has vastly outperformed its rival Ether (ETH) which posted under 11% gains in the past month. Three-month SOL price chart with gains up nearly 81% in 30 days. Source: Cointelegraph Markets Pro…