Tag: Solana

Solana tech developer Coral raises $20M, plans to launch ‘xNFT’ protocol

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Solana ecosystem developer Coral has closed a $20 million investment round backed by some of crypto’s biggest venture funds, setting the stage for launching its new interactive wallet later this month.  The investment round was co-led by FTX Ventures and Jump Capital with additional participation from Multicoin Capital, Anagram, K5 Global and other investors, Coral announced Wednesday. Coral said it would use the funds to build internal capacity and launch its flagship product, Backpack. Backpack is said to be an interactive wallet that delivers “crypto-native experiences” through so-called executable nonfungible…

Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence

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The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. Its incredibly fast transaction times had been one of the pulls, as well as the ability for developers to create decentralized applications (DApps) on the network. Since the beginning of 2022, the network has been racing toward an important milestone, which it has now successfully broken through.  Solana Surpasses 100 Billion Transactions Solana’s transaction count had been ramping up over the last couple of months. In just 2 years, it has become…

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Over 81% Helium Community Approves Migration to Solana Blockchain

The Helium Foundation on Thursday announced the migration of its decentralized wireless Internet of Things (IoT) network, the Helium Network, to the Solana blockchain. The foundation approved the decision after a successful community vote on the proposal. Since its establishment in 2013, the Helium network has been operating on its own blockchain, known as HIP 70. On Thursday, the foundation disclosed that a majority community vote of 81.41% approved the Helium Improvement Proposal (HIP 70) aimed at developing the network to meet user demand. The proposal requirements demanded participants to…

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Helium migrates its blockchain to Solana following T-Mobile partnership

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On Thursday, the Helium Foundation announced that it would be moving its mainnet to the Solana blockchain following a community vote. According to the proposal, proof-of-coverage and Data transfer mechanisms will be moved to Helium Oracles. It’s official! The HIP 70 vote has ended. #Helium will be moving to the @Solana blockchain! pic.twitter.com/V2WIajou7R — Helium (@helium) September 22, 2022 Meanwhile, Helium’s tokens and governance will relocate to that of the Solana blockchain. As told by developers, the benefits of the move would include more of its native token HNT available to…

Solana Price Continues To Trade Laterally With Signs Of Further Depreciation

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Solana price has moving been sideways for the last few months, and it has maintained the same price action. Over the last 24 hours, SOL has depreciated 2.6%. In the past week, the altcoin’s gains were negated by the ongoing lateral trading. Buying strength has remained low over the last week and that has further pushed Solana price to their closest support line. If buyers push the price higher, SOL could attempt to topple over the $33 price level. As sellers continue to dominate, it could be tough for SOL…

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Solana Holds Key Support To Avoid Drowning, How Long Can This Last?

The price of Solana (SOL) has been volatile against tether (USDT), causing more pain for hodlers. Despite showing such strength, the price of Solana (SOL) has risen from $30 in recent weeks to around $45, as many investors hoped for more relief rallies to around $60. Solana (SOL) prices were rejected and have continued to fall with no significant bounce. (Data from Binance) Solana (SOL) Price Analysis On The Weekly Chart  SOL’s price dropped from $250 to around $30, representing a drop of more than 70% from its all-time high.…