Tag: Solana

Solana Records 9th Consecutive Weeks of Investment Inflows While Other Top Coins Bleed

During the past 9 weeks, Solana recorded a total inflow of about $0.7 million while all digital asset investment products saw an outflow of about $342 million in the past seven weeks. One of the leading smart contract blockchains and DeFi ecosystems with over $305 million in total value locked (TVL), Solana (SOL), has been a favorite among most investors. According to a weekly report on digital asset fund flows by CoinShares, Solana was the only top coin to record inflows in the past weeks. Precisely, the report highlighted that…

Solana YTD inflows suggest it’s the ‘most loved altcoin’ — CoinShares

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Solana (SOL) investment products clocked $26 million worth of inflows since the start of 2023, outpacing all other altcoins, including Ether (ETH), suggesting it’s the “most loved altcoin amongst investors” according to CoinShares. In a Sept. 4 Digital Asset Fund Flows weekly report, CoinShares’ head of research, James Butterfill, noted that trading volumes for crypto investment products for the week ending Sept. 1 were 90% above the year-to-date average — with crypto product outflows dropping to $11.2 million. It marks a seven-week run of negative sentiment that’s seen $342 million leave crypto…

Uniswap outperforms Coinbase in spot volumes, Maple Finance returns to Solana, Borroe attracts investor interest

Uniswap’s (UNI) spot volume has been rising since early 2023. It exceeded Coinbase’s at some point, highlighting the platform’s increasing popularity. Elsewhere, Solana (SOL) appears to be recovering after Maple Finance resumed operations on its network. Meanwhile, Borroe (ROE) early presale investors are already in green. Uniswap spot volume rising Uniswap is popular and is among several projects that are setting the pace in decentralized finance (defi).  UNI prices have been under pressure, especially in the second half of August 2023. Since Aug. 17, prices are down by over 27%.  Even so,…

MakerDAO co-founder proposes fork of Solana codebase for native chain

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MakerDAO co-founder Rune Christensen has submitted a proposal to build the decentralized finance project’s upcoming native chain off of a fork of Solana’s codebase, and not the Ethereum Virtual Machine despite its long-running ties with Ethereum. MakerDAO’s native chain or what is currently dubbed as “NewChain,” is part of the fifth and final phase of the MakerDAO “Endgame” upgrade announced in May. The final phase is expected to take around three years to complete, and it will see the full re-implementation of the Maker Protocol into a new stand-alone blockchain.…

Solana Pay partners with Shopify to enable USDC payments

E-commerce businesses using Shopify can now integrate Solana Pay to enable USDC payments. Solana Pay, a payment system built on Solana, is partnering with Shopify for businesses to access a faster, more efficient, and transparent payment mechanism. This integration will empower Shopify-based merchants to tap on blockchain’s capabilities by facilitating real-time fund access, enhanced management of working capital, liquidity, and improved protection against liabilities. As a result, businesses can bypass traditional banking hassles, such as unwanted fees, chargeback issues, and delays in payment processing. This alliance will also pave the…

This Solana Pay Integration Could Onboard Millions Into Crypto

A recent report from Techcrunch noted the integration between Solana and Shopify. One of the largest marketplaces in the world, the cooperation will enable millions of businesses and customers to use digital assets for their purchases. Solana Enters The Mainstream With Shopify Cooperation? Speaking with the media outlet, Josh Fried from the Solana Foundation highlighted that the Pay supported by stablecoin USDC is the first to integrate with the marketplace. This digital asset was chosen due to its low volatility and familiarity with the US dollar. However, in the future,…

Crypto Analyst Predicts Solana Could Mirror Cardano Price Action

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The general crypto market has seen a decline in the last week, with most assets recording significant losses. Solana (SOL), one of the most prominent cryptocurrencies, is down by 11.50% in the last seven days and 16.17% in the last month. Interestingly, popular crypto analyst, Benjamin Cowen has posted a puzzling prediction on Solana, drawing much similarity between the token’s current price movement and historical price data of fellow altcoin Cardano (ADA).  SOL To Close 2023 With Losses? According to an X post on August 23, Benjamin Cowem believes Solana’s…

Shopify to accept USDC payments with Solana: Report

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E-commerce giant Shopify has added Solana Pay to its pool of options for payment, allowing millions of merchants to use the platform to accept crypto transactions, kicking off with USD Coin (USDC) stablecoin payments.  According to TechCrunch, Solana plans to add other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the “killer app for crypto,” adding that “[Everyone] should be doubling down…

Solana In Turbulence: Analyzing The Death Cross

Solana (SOL) has found itself under the shadow of a foreboding technical pattern known as the “Death Cross.” This ominous occurrence, defined by the 50-day moving average crossing below the 200-day moving average, has historically heralded significant price downturns.  Investors are now eyeing the charts as SOL grapples with this pattern once again, raising questions about its future trajectory. For the uninitiated in the intricacies of technical analysis, the Death Cross is akin to a storm warning on the horizon. It emerges when a short-term moving average dives beneath a…