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Solana And Ethereum Recover After Registering Double-Digit Gains

Ethereum and Solana especially galloped up on their charts significantly in the last 24 hours. Bitcoin had also reclaimed the $40k price mark at the time of writing therefore major altcoins followed a similar price movement. The massive attack on Wormhole which is an eminent bridge protocol between Solana and Ethereum caused ETH to lose close to 8% while depreciating SOL by double-digits. At the time of writing, Solana was seen trading for $109.18 after SOL was parked below the $100 mark yesterday. Ethereum was seen changing hands for $2953.03…

Solana Price Soars 10% As $325 Million Reinstated on Wormhole

The Solana price has been on an upswing ever since the bloodbath that followed DeFi’s largest hack of 2022. The Wormhole network stated that stolen money had been restored, giving Solana price some much-needed relief. Related Reading | Solana price recovers from downtrend after $325 million restored on Wormhole network After hours of being lost to what some call the largest DeFi hack, the crypto was restored. Jump Crypto’s currency-focused arm worked in tandem with other Quant trading firms, and together, they were able to restore all funds that hackers…

Solana Fix Demonstrates Self-Resilience of the Cryptocurrency Space

Wall Street market maker Jump Trading Group ponies up to make whole the losses from the US$320 million hack of Wormhole, a “bridge” that facilitates blockchain interoperability  Fix demonstrates the commitment to the cryptocurrency space from market makers like Jump Trading Group, who want to ensure that they are at the crossroads of value and infrastructure in a new market paradigm    Hacks are unfortunately all too common in the world of cryptocurrencies. From unknowable smart contract vulnerabilities to exchange hacks, the cryptocurrency world has grown accustomed to the regularity…

Report crowns Solana for using least energy per transaction, but there’s a catch

Solana (SOL), one of the most active proof-of-stake (PoS) blockchains, appears to be a PoS protocol consuming the lowest amount of electricity per transaction, according to a new report. The Crypto Carbon Ratings Institute (CCRI), a research startup focused on the environmental impact of cryptocurrencies, released on Wednesday a new report calculating the electricity consumption and carbon footprint of major PoS blockchains. The CCRI specifically analyzed PoS networks including Cardano, Solana, Polkadot, Avalanche, Algorand and Tezos. According to the CCRI’s findings, the Solana blockchain consumed 0.166 watt-hours (Wh) of electricity…