Lookonchain has illustrated on X the investment of 50 SOL by a user in the presale of the meme token BOOK OF MEME (BOME), resulting in a return of 767 SOL, equivalent to around $123,000. The post highlights the success of a trader known as Shatter.sol, who capitalized on the explosive growth of the BOME...Read More
Pantera Capital is reportedly in the process of securing funds from major investors to acquire heavily discounted Solana tokens from the bankruptcy estate of FTX. The company is raising capital for the Pantera Solana Fund, which presents an attractive opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate. Marketing...Read More
Solana-based investment products had seen steady inflows throughout the year after intensive performance and reliability improvements. However, investor confidence took a hit due to a network outage lasting five hours earlier this month, caused by a bug that caused transactions to enter an infinite loop, thereby impacting the network’s functionality. Solana’s Troubles Continue Among altcoins,...Read More
Solana-based nonfungible tokens (NFTs) have reached a significant milestone, surpassing an all-time sales volume of $5 billion, according to data from CryptoSlam. This surge in activity marks a turnaround for the Solana blockchain, which struggled to gain traction in the NFT space just a few months ago. Solana Ecosystem Surges As of February 23, the...Read More
Amidst a meaningful market recovery, digital asset investment products welcomed a record weekly inflows of $2.45 billion. This pushed year-to-date inflows to now at an impressive $5.2 billion. These numbers, combined with recent favorable price trends, have pushed the total assets under management (AuM) to $67 billion, the highest level since December 2021. Solana Faces...Read More
Investments in digital assets surged by $1.1 billion, bringing the year-to-date total to $2.7 billion. With the recent market recovery and subsequent price hikes, the total assets under management (AuM) have reached their highest point since early 2022, hitting $59 billion. According to Coinshares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin dominated...Read More
On Tuesday, the Solana network experienced five hours of unusability. Validators, crucial components of Solana’s infrastructure responsible for processing and validating blockchain transactions, restarted the network before 10 am Eastern Time. Solana Labs attributed the recent five-hour blockchain downtime on February 6 to a bug that made transactions enter an infinite loop. The Post-Mortem According...Read More
Solana has been the center of attention in the last seven days, spearheading most of the news headlines in the crypto community. First, the Solana network suffered an outage on Tuesday, shutting down for nearly five hours and sparking criticisms left and right. Shortly after, SOL skyrocketed to $105, and its ecosystem recorded $1.85B in...Read More
Solana is down. The popular layer-one hasn’t been offline for quite a while, but it appears that the network isn’t functioning for a bit. According to an official update from the Solana Status account, the “mainnet-beta” experienced an outage, and engineers across the ecosystem are working to identify the issue. The update is from 10:22...Read More
Investment products for digital assets received significant influxes of $708 million last week, contributing to year-to-date inflows of $1.6 billion and increasing the total global assets under management to $53 billion. However, trading volumes in ETPs dropped to $8.2 billion from the previous week’s total of $10.6 billion, though they still surpass the 2023 weekly...Read More
Digital asset investment products experienced modest withdrawals of $21 million last week. However, this overall figure doesn’t reflect the significantly elevated trading activity, with Bitcoin alone witnessing trading volumes of $11.8 billion. This amount is seven times higher than the typical weekly trading volume observed in 2023, according to the latest report by CoinShares. US...Read More
Ondo Finance, a U.S.-based issuer of tokenized securities, is suspected of selling 20 million ONDO tokens, resulting in a notable 13% decline in the currency’s price within a short timeframe. The situation raised concerns with an X crypto enthusiast doing further investigation into the token sale. Large ONDO Token Transfers Trigger Price Drop According to...Read More
Solana Mobile’s latest crypto-enabled smartphone, Chapter 2, has set a new record for preorders, surpassing the entire first-year sales of its predecessor, Saga, within its first 30 hours of the announcement. The company reported 25,000 preorders in the initial 24 hours, and by the 30-hour mark, the number had skyrocketed to 30,000. Affordable Pricing and...Read More
Digital asset investment products experienced a $1.18 billion increase in inflows last week, according to CoinShares. This figure, however, did not surpass the previous high set in October 2021 when futures-based Bitcoin ETFs garnered a total of $1.5 billion. The latest edition of “Digital Asset Fund Flows Weekly Report” further revealed that the trading volumes...Read More
Solana’s native SOL token was one of the best-performing crypto assets in 2023. The developer ecosystem of the Layer 1 network also showed consistent growth during the same period. In the same timeframe, the Solana ecosystem saw a notable increase in developer retention, jumping from 31% to more than 50% within a three-month timeframe. This...Read More
The digital asset investment products experienced inflows of $2.25 billion throughout the entire 2023. This places it as the third-best year based on data dating back to 2017, with 2020 recording $6.6 billion and 2021 reaching $10.7 billion, according to the latest report by CoinShares. As such, the inflows for 2023 were 2.7 times higher...Read More
XRP tokens, the native cryptocurrency for the cross-border Ripple Labs network, have traded sideways in a narrow band with support around $0.62 since mid-November. At the same time, SOL used the opportunity, surged by an impressive percentage, and surpassed XRP in terms of market cap ranking. Ripple’s Turn Next After Solana? But the XRP price...Read More
Digital asset investment products resumed inflows after breaking the 11-week streak of positive cash flows. According to the findings by CoinShares’ Head of Research, James Butterfill, the net inflows totaled $103 million over the last week. Bitcoin investment products, as usual, attracted the highest capital inflow. The digital asset manager revealed a net inflow of...Read More
The New York-based stablecoin issuer – Paxos – announced a strategic expansion of its stablecoin issuance to the Solana blockchain platform, which was previously exclusive to Ethereum. Paxos said it plans to make USDP available to the public on Solana starting January 17, 2024. This move marks a significant milestone for Paxos in the competitive...Read More
Solana Mobile has announced on X that it cannot fulfill orders placed after its Solana Saga inventory ran out. This issue has arisen due to a management problem with the third-party distributor. Notably, this development follows the sellouts in the U.S. and the EU, where the company faced high demand but had a limited inventory...Read More
Arthur Hayes, the founder of the renowned crypto exchange BitMEX, has sold off his holdings in Solana (SOL) and redirected his investment towards Ethereum (ETH). According to Hayes, this strategic shift stemmed from an enlightening meditation session that prompted him to reassess his portfolio, favoring Ethereum over Solana. Arthur Hayes Predicts Ethereum to Reach $5,000...Read More
As the Solana network continues to see massive interest from the crypto community, traders are cashing out on investments into several memecoins. Blockchain analytics platform Lookonchain revealed in a tweet that a crypto trader was able to make approximately $1.55 million in profits from a $42 investment in Silly Dragon (SILLY), a memecoin on the...Read More
The Solana Saga smartphone has garnered the unfortunate title of the worst smartphone of the year, as declared by popular YouTuber Marques Brownlee (MKBHD). Notably, the phone has experienced a surge in demand, leading to a sell-out, which occurred concurrently with an increase in the price of a memecoin developed on the Solana smart contract...Read More
Digital assets investment products ended their 11-week streak of positive cash flows with withdrawals amounting to $16 million. However, trading activity remained significantly higher than the yearly average, reaching $3.6 billion for the week, in contrast to the year-to-date average of $1.6 billion. Bitcoin was the worst hit, witnessing outflows of $33 million last week,...Read More
A crypto trader has raked in more than $1.4 million in profit within five days by purchasing millions of Dogwifhat (WIF) tokens, a dog-themed meme coin on the Solana network. According to a tweet by blockchain analysis platform Lookonchain, the trader began their WIF journey by purchasing $226,000 worth of the tokens after they were...Read More
The market for Solana Saga smartphones is witnessing an unprecedented surge, with recent sales on eBay reaching as high as $5,000, far exceeding the initial retail price. This spike in demand and value is primarily driven by the increased hype around BONK, a Solana-based meme coin, and expectations of lucrative future airdrops. High Demand for...Read More
The latest report from Coinbase indicates that despite the emergence of competing networks like Solana, Ethereum remains the leading smart contract platform in the rapidly evolving world of cryptocurrency. Ethereum presently accounts for around 57% of the total value locked in the cryptocurrency ecosystem, with its market capitalization being second only to that of Bitcoin....Read More
Solana’s previously underperforming Saga smartphone has experienced a sudden and overwhelming surge in sales. This unexpected development is attributed mainly to the growing fascination with BONK, a meme coin on the Solana blockchain. Solana’s Saga Phone Sales Skyrocket with BONK Airdrop This unique situation began with an announcement in June about an airdrop of 30...Read More
Investment products related to digital assets experienced inflows amounting to $43 million last seven-day period, marking the 11th consecutive week of such positive movements. However, this figure represents a noticeable decrease compared to previous weeks. According to CoinShare’s latest report, the recent rise in prices has prompted a significant influx into short positions, as some...Read More
Jito Amasses $3B in FDV Jito is the latest protocol making waves in the Solana ecosystem and the crypto community, as the JTO token has surged over 100% in 24 hours after its airdrop, and the tremendous price uptick has benefited SOL users considerably. Jito, developed by Jito Labs —a major node operator for Solana—...Read More
