NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL)

NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL)

Cryptocurrency exchange FTX.US has launched the non-fungible (NFT) marketplace for Solana-based NFTs.

“NFT deposits/withdrawals live on FTX US for Solana!” announced FTX CEO Sam Bankman Fried late on Monday.

While currently limited to Solana-based NFTs, soon FTX.US will also add support for Ethereum-based NFTs.

The buying and selling of NFTs on FTX.US’s marketplace have been limited to those minted directly on the website before this launch. Additionally, the Solana-based collection didn’t have an established marketplace either, with the majority of them being traded on Digital Eyes and Solanart.

But now, FTX has joined in to “provide both US and global users with a regulated marketplace that is intuitive and responsive to their needs,” FTX.US president Brett Harrison said in a statement.

“We’re live!” announced Harrison on Twitter while noting that both “buy now” and auction options are supported on the platform. In case your NFT isn’t verified, FTX will also verify the authenticity of your NFT.

While there is no listing fee on FTX.US, the platform will charge a 2% exchange fee from the seller plus creator royalties.

All the NFTs will be listed in SOL. So, to get started, the user has to fund their exchange wallet with crypto or US dollar to get some SOL tokens.

Solana has actually become a favorite among institutional investors, with $12.5 million of inflows recorded in SOL investment products last week. Overall, this year, Solana has seen $96 million in inflows, bringing its AUM to $119 million — the fifth largest after Bitcoin, Ethereum, Multi-asset, and Binance, according to CoinShares.

On Monday, derivatives platform FTX also increased its instant Signet transfers to allow 10 million per day in withdrawals and deposits to be auto-credited. Earlier this month, the rapidly growing exchange had integrated Signature Bank’s instant Signet deposits and withdrawals for institutions with initial rollout limiting withdrawals to 100k/day.

In other news, CEO Bankman-Fried is stepping down from quant trading firm Alameda Research to focus on crypto exchange FTX. Sam Trabucco and Caroline Ellison will now head Alameda Research as co-CEOs.

The crypto trading behemoth, which made a $1 billion profit last year, is involved in investments, trading, market-making, and yield farming in the crypto space.

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Author: AnTy

Solana-Based DAO Developer, Grape Network, Raises $1.2 Million in Funding

Solana-Based DAO Developer, Grape Network, Raises $1.2 Million in Funding

The blockchain resurgence is still in full swing, with several leading platforms – and the projects built on them – seeing more attention.

The most recent on the roll call is Grape Network – a network for building decentralized autonomous organization (DAO) that runs on the Solana blockchain.

Two Impressive Funding Rounds in a Week

Grape’s objective is to make it easier for decentralized finance (DeFi) protocols and non-fungible token (NFT) projects to create their DAOs. Despite just launching five months ago, it is quickly becoming an integral part of the Solana blockchain.

So integral is Grape that it closed a $1.2 million funding round. The round was led by Multicoin Capital – a crypto and blockchain investment firm based in Austin, Texas. Other participants include SkyVision Capital, LongHash Ventures, and even Solana Capital.

Grape’s recent funding round is coming after the company had raised $600,000 via an Initial Decentralized Exchange Offering (IDO) on the Raydium AcceleRaytor crowdfunding platform just last week. Grape’s IDO was famous for having caused an outage on the entire Solana network that lasted about 17 hours.

At the time, Dean Pappas, Grape’s co-founder, had explained that they were quite happy with the IDO’s performance. If investor demand for Grape had caused a network like Solana to go down, it showed that they are indeed on the right path.

Like it did with its IDO, Grape completed its latest funding round via a token sale. Papas told industry news sources that they would be looking to use the funds to upscale and improve on their current products. Pappas pointed out that demand for Grape’s toolset has already beaten their expectations, and they would be hoping to improve their workforce and capacity to handle demand and keep up with their developmental roadmap.

Grape already saw significant progress with its Grape Access tool, which lets DAOs provide access to community members based on their wallet balances. The tool connects users’ cryptographic keys with their social accounts, thus identifying real network contributors and delegating tasks to them to further the DAO’s objective.

Solana Projects Doing Numbers

Grape hopes to improve the efficiency and seamlessness involved in running DAOs, giving a sneak preview of more things to come, Papas told news sources that Grape is also looking to launch an intra-DAO payment system that will make it possible for DAOs to program quicker payments.

Grape isn’t the only Solana-native protocol that raised capital this year. Earlier this week, Orca – a decentralized exchange built on the blockchain – completed a Series A funding round valued at $18 million. The round was led by Three Arrows Capital, with participation from Polychain Capital, Solana Capital, Coinbase Ventures, and more.

Orca explained that the funds would be used to improve its automated market maker (AMM) solutions for the Solana (SOL) blockchain. The project, which is less than a year old, explained that it hopes to differentiate itself from other AMMs by offering a better user experience.

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Author: Jimmy Aki

Deutsche Boerse Expand Crypto Offering to Include Polkadot, Solana, and Tron ETNs

Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs

“Solana has grown remarkably and became an institutionally investable asset,” says FTX Head of Product, while Tron founder Justin Sun sees this listing as “a testament to TRON’s robust crypto ecosystem.”

Asset manager VanEck has listed three new crypto ETNs on Xetra Deutsche Börse to include the digital assets Solana (SOL), Polkadot (DOT), and Tron (TRX). SOL -6.36% Solana / USD SOLUSD $ 124.20
-$7.90-6.36%
Volume 5.24 b Change -$7.90 Open $124.20 Circulating 297.1 m Market Cap 36.9 b
7 h Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs 9 h Crypto Products Record Inflows for the 5th Straight Week; Bitcoin, Ether, and Solana Account for Over 64% of It 1 d Bitcoin Price Flash Crashes to $5,400 on Solana-based Oracle Pyth Network Causing Liquidations
DOT -6.88% Polkadot / USD DOTUSD $ 26.31
-$1.81-6.88%
Volume 3.32 b Change -$1.81 Open $26.31 Circulating 987.58 m Market Cap 25.99 b
7 h Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs 4 d It Isn’t Layer 1 or Layer 2, It’s Time for LayerZero 1 w Solana (SOL) Dominating Institutional Interest, Accounting for Over 86% of the Total Inflows
TRX -3.59% TRON / USD TRXUSD $ 0.09
$0.00-3.59%
Volume 1.97 b Change $0.00 Open $0.09 Circulating 71.66 b Market Cap 6.32 b
7 h Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs 6 d Ether Address Growth Surpasses Bitcoin, A Record 7.5 Million Addresses Holding at Least $1 Worth of Stablecoins 1 w More than 65% of South Korean Crypto Exchanges to Shut Down Once FSC Deadline Hits

These crypto-assets were selected from about 100 possible candidates on the basis of uses and functionality, the number of transactions, availability on the exchanges, track record, development team, and market capitalization, according to the official announcement.

“Solana has grown remarkably and became an institutionally investable asset,” said Ramnik Arora, Head of Product at FTX, a crypto derivatives platform that backs the faster and cheaper Ethereum competitor.

Meanwhile, Tron creator Justin Sun saw this listing as “a testament to TRON’s robust crypto ecosystem and its successful drive to expand our global roadmap.”

Investors will now be able to participate in the development of these cryptocurrencies on an exchange-traded basis at a total expense ratio of 1.5% without having to buy the underlying asset themselves.

With these new listings, crypto ETNs will expand beyond just the top two digital assets, Bitcoin (BTC) and Ethereum (ETH), for European investors. BTC -5.39% Bitcoin / USD BTCUSD $ 40,687.64
-$2,193.06-5.39%
Volume 48.55 b Change -$2,193.06 Open $40,687.64 Circulating 18.82 m Market Cap 765.84 b
6 h Brazilian Asset Manager BTG Launches Bitcoin Trading Platform 7 h Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs 9 h Crypto Products Record Inflows for the 5th Straight Week; Bitcoin, Ether, and Solana Account for Over 64% of It
ETH -7.03% Ethereum / USD ETHUSD $ 2,764.76
-$194.36-7.03%
Volume 30.24 b Change -$194.36 Open $2,764.76 Circulating 117.62 m Market Cap 325.19 b
7 h Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs 9 h Crypto Products Record Inflows for the 5th Straight Week; Bitcoin, Ether, and Solana Account for Over 64% of It 11 h Bitcoin Moving in Tandem with S&P 500 as the Fed Begins its Meeting; Funding Goes Negative Across the Board After Wiping Out $1.2B

“Ethereum continues to grow in popularity, but younger platforms also offer many advantages, such as lower transaction costs or faster processes,” says Martijn Rozemuller, CEO at VanEck Europe.

According to Rozemuller, both Bitcoin and Ether are “strongly established in the market,” and their low correlation to other asset classes makes them a good opportunity to diversify one’s portfolio.

However, with thousands of cryptocurrencies available in the market and no one knowing which will be the most important in the next decade, “Investors should therefore be given the opportunity to invest broadly in digital assets as well,” he said.

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Author: AnTy

It Isn’t Layer 1 or Layer 2, It’s Time for LayerZero

While layer 1 solutions like Solana (SOL), Avalanche (AVAX), Binance Smart Chain (BSC), Polkadot (DOT), and Cardano (ADA) are trying to compete with Ethereum, layer 2 solutions like Arbitrum and Optimism are here to solve the issue of high fees and congestion on Ethereum network and have been gaining traction.

But while layer 1s and layer 2s are busy outdoing each other, layer 0 has entered the picture.

Could it be the new fad? That’s to be seen, but this week, Bryan Pellegrino, co-founder, and CEO of LayerZero Labs, introduced LayerZero, an Omnichain Interoperability Protocol.

According to Pellegrino, LayerZero’s mission is simple — connect all dapps on all chains, have borderless connectivity (EVM, Non-EVM, L1, and L2), and make integration with LayerZero extremely simple for developers.

“Right now, bridges can be a mess,” noted Pellegrino as he pointed out different layer 1s have all independent pools of liquidity and that we don’t natively have the likes of AVAX <> Solana and Avax <> BSC.

Unlike this, LayerZero will allow for a single pool of unified liquidity bridged between all connected chains along with enabling native cross-chain lending, which means lend on one chain and borrow on another one seamlessly, and unified governance, that is, the ability to seamlessly swap AMM (A) -> AMM (B) regardless of chain, layer, or asset.

All of this will be enabled natively from day 1 on top of LayerZero, whose contracts are currently under audit and will “go live shortly after completion,” he said.

They are also building the first project entirely on the permissionless LayerZero protocol called Stargate, on which details will be shared soon.

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Author: AnTy

Visa’s Head of Crypto Inquires About Solana (SOL), PayPal Officially Enables Crypto Trading for UK Customers

Visa’s Head of Crypto Inquires About Solana (SOL), PayPal Officially Enables Crypto Trading for UK Customers

Payment giant PayPal announced on Friday that all the eligible customers in the UK can now buy, hold, and sell cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) & Litecoin (LTC), from their PayPal account.

While PayPal has gone with the typical crypto assets, Visa is currently exploring Solana (SOL). However, for now, it is related to stablecoin USDC.

“Would love to chat with anyone building a wallet on Solana that supports USDC and see how we can help with on-ramps and off-ramps,” said Cuy Sheffield, head of crypto at Visa.

Earlier this year, the payment card network had announced support for USDC to settle transactions. USDC is a stablecoin founded by the Center consortium of Circle and Coinbase, which supports several blockchains, including Ethereum, Algorand, Stellar, and Solana.

Last week, Jeremy Allaire, co-founder & CEO of Circle, had shared “the rapid growth of USDC on Solana,” to which Sheffield later responded, “Amazing to see the growth of USDC on Solana.”

Allaire talked about USDC supply on Solana blockchain getting doubled to 2 billion in just a week in his thread.

Besides in crypto finance and fintech, multi-chain USDC sees serious experimentation “for consumer scale payments and commerce, with profound implications for the global payments industry. 2022 is going to be amazing on this front,” he had said, adding, with this architecture enabling seamless consumer and institutional UX “we will see breakthroughs in on-chain payments, banking and capital markets.”

Besides Solana, Sheffield also inquired about the best non-custodial wallets that are optimized for Ethereum layer 2s. Layer 2 solutions like Arbitrum and Optimism aim to solve scalability on the second-largest network, which started to gain traction recently.

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Author: AnTy

Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors

Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors

Solana has been one of the most talked-about projects in the crypto space this week, and it doesn’t appear to be slowing down. In the latest show of adoption, an institutional investment firm has opened a new Fund for the company’s SOL token.

Big Expansion for Osprey

According to an official press release shared on Thursday, Osprey Funds has launched an SOL-based Trust product for private placement. The press release confirmed that the new product would offer exposure to SOL for investors, making Osprey the first company to offer an investment product dedicated solely to the token.

The Osprey Solana Fund is open to all accredited investors, with a minimum subscription amount of $10,000. Osprey Funds pointed out that it will be looking to list the SOL fund on the OTCQX over-the-counter (OTC) market as soon as possible. The company has also waived its management fee – which stands at 2.5 percent – for all investors in the SOL fund until January 2023.

The SOL Fund is the fourth product to be launched by Osprey. The New York company already offering exposure to Bitcoin (BTC), Polkadot’s DOT token, and the ALGO token from blockchain project Algorand. BTC -3.37% Bitcoin / USD BTCUSD $ 44,911.09
-$1,513.50-3.37%
Volume 39.2 b Change -$1,513.50 Open $44,911.09 Circulating 18.81 m Market Cap 844.88 b
8 h Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors 9 h Bank of Mexico Governor says #Bitcoin More like Precious Metal than Legal Tender, But Sweden’s Sees Eventual “Collapse” 9 h National Australia Bank Observing Crypto As An ‘Emerging Issue’ After Being Accused of Refusing to Do Business with the Industry
DOT -2.32% Polkadot / USD DOTUSD $ 29.26
-$0.68-2.32%
Volume 3.68 b Change -$0.68 Open $29.26 Circulating 987.58 m Market Cap 28.9 b
8 h Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors 3 d Bitcoin (BTC) Finally Records Inflows After 8 Weeks, Solana (SOL) Remains the Favorite Altcoin 1 w Cardano Upgrades Testnet With Smart Contracts Capabilities, ADA Price Surges
ALGO -13.46% Algorand / USD ALGOUSD $ 2.03
-$0.27-13.46%
Volume 2.61 b Change -$0.27 Open $2.03 Circulating 5.23 b Market Cap 10.61 b
8 h Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors 10 h Algorand Foundation Assigns 150 Million ALGO to Support DeFi Innovation on the Blockchain 1 w 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market

What a Week for Solana

This announcement is yet another show of support from major institutional players as SOL’s profile grows. The coin has been growing in adoption within developer’s circles for a while. Institutional investors are also taking note. According to last week’s Digital Asset Fund Flows Weekly issue from crypto investment firm CoinShares, institutional inflows to SOL-based products stood at $13.2 million last week. – a jump of 388 percent.

CoinShares added that the inflows to Solna-based products have doubled so fr year-to-date, with the asset absorbing $25 million in 2021 so far. This number could rise even higher, as Delta Exchange announced earlier this week that it had launched options trading for the coin. Investors can now purchase options calls on SOL with daily maturities, although weekly and monthly maturities are expected to be rolled out subsequently.

Besides, investors are still waiting for the Solana Investment Trust announced by Grayscale Investments back in June. Grayscale is the industry’s largest asset management firm, and support for Solana should increase the asset’s credibility among institutional investors even more.

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Author: Jimmy Aki

Blockchain Platform Lido Now Supports Solana (SOL) Staking

Blockchain Platform Lido Now Supports Solana (SOL) Staking

Solana’s profile continues to rise. With the coin’s current price jump, adoption has also been growing.

The latest sign of increased Solana adoption is coming from Lido – a blockchain-based crypto staking platform.

An Interesting Staking System

Earlier this week, Lido announced expanding its staking services to include Solana’s native SOL token. In a tweet, the company confirmed that SOL holders can now stake their coins via its platform, earning rewards in the process.

The development marked the project coin that will be supported on Lido – behind Ethereum 2.0 and Terra. Lido has been especially popular due to its liquid staking operation, in which currencies are converted to their synthetic counterparts on the platform.

These synthetic tokens are then used in decentralized finance (DeFi) protocols to improve their holders’ yield-generation opportunities. So, when an investor locks their coins, they receive the synthetic versions of these tokes that they can use in the interim.

With support from Lido, stSOL (synthetic SOL tokens) will now be available on DeFi protocols such as Serum, Phantom, and Raydium. Kasper Rasmussen, Lido’s marketing chief, told industry news sources that the projects would allow stSOL users to provide liquidity and get additional rewards with their regular staking rewards.

Felix Lutsch, the chief marketing officer for blockchain staking and interoperability platform Chorus One, also pointed out the presence of a wormhole bridge that connects Solana with other leading blockchains like Ethereum. As he explained, they will be hoping to use this bridge to bring Lido-staked assets across chains. Chorus One is currently in charge of developing Lido’s liquid staking solutions for Solana.

All Eyes on SOL

Lido’s expansion into Solana is just the latest adoption play for the asset, which has been on a significant price upsurge in the past week. Yesterday, Delta Exchange – a crypto exchange and derivatives trading platform – launched options trading for SOL and Cardano’s ADA token. The move will bring both tokens to move investors, many of which would like to take advantage of their recent gains.

Delta already offers Options trading for coins like Bitcoin, Ether, Binance Coin, and XRP. The company’s rollout for SOL and ADA will start with daily maturities for call and put options. However, weekly and monthly maturities are expected to come at a later date.

Options offer owners the right – but not the obligation – to trade specific securities at a particular time and price.

They are popular in the crypto market, as they allow investors to speculate on coin prices in both the short and long term. The market for derivatives has been growing recently, with open interest in Bitcoin options alone doubling their levels in June – according to data from ByBt.

With the growth of platforms like Delta and FTX, a derivatives platform built on Solana, the derivatives market should see more cash influx. This also puts SOL in an interesting spot for bigger gains.

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Author: Jimmy Aki

76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market

76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market

Trading near $117, SOL is currently down just over 7.5% from its all-time high of almost $130, which was hit just about 24 hours back.

With a market cap of $32.2 billion, SOL sits at 8th place in the cryptocurrency market.

Last week, the Solana team helped push the prices of the token even higher by teasing a new feature. An ignition teaser video featuring a purple flame lighter was tweeted on August 27th.

The tweet featuring the video was speculated to be referring to the burning of the SOL tokens paid in fees.

Solana is an Ethereum competitor that markets itself as a faster and cheaper alternative. It is a public base-layer blockchain that features a new timestamp system called Proof-of-History (PoH) for enabling automatically ordered transactions and uses the Proof of Stake (PoS) consensus algorithm to help secure the network.

The token SOL is used to pay the transaction fees, and the protocol burns a portion of the fees it collects. Solana also creates new tokens based on a “dis-inflationary inflation schedule.”

Besides being used to pay the fees, SOL is also used to secure the network through staking. While Ethereum has just started staking and only 6% of its supply staked and locked in the deposit contract, a whopping 76.81% of SOL supply is currently staked, according to Stakingrewards.com.

Among popular PoS blockchains, Cardano, Polkadot, Terra, Avalanche, BSC, and Algorand, Solana has the highest percentage of its supply staked. Binance Smart Chain comes second at 71%, followed by Cardano’s 69.65%.

ADA 1.78% Cardano / USD ADAUSD $ 2.83
$0.051.78%
Volume 4.39 b Change $0.05 Open $2.83 Circulating 32.15 b Market Cap 90.95 b
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 1 d Cardano (ADA) Remains A Favorite Among Retail & Institutions Alike with Alonzo Upgrade “On Schedule” 2 d Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH
DOT -2.14% Polkadot / USD DOTUSD $ 30.17
-$0.65-2.14%
Volume 3.77 b Change -$0.65 Open $30.17 Circulating 987.58 m Market Cap 29.8 b
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 1 d Cardano (ADA) Remains A Favorite Among Retail & Institutions Alike with Alonzo Upgrade “On Schedule” 2 d Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH
LUNA 12.73% Luna Coin / USD LUNAUSD $ 0.01
$0.0012.73%
Volume 0 Change $0.00 Open $0.01 Circulating 1.71 m Market Cap 14.59 K
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 2 d Historically September Records Losses, But Will This Time Be Any Different? 2 d Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH
AVAX 3.16% Avalanche / USD AVAXUSD $ 44.20
$1.403.16%
Volume 1.09 b Change $1.40 Open $44.20 Circulating 175.14 m Market Cap 7.74 b
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 1 d Fantom Sees an Avalanche of New Activity to Hit Records, Announces Rewards to Build on the Platform 2 d Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH
ALGO 2.51% Algorand / USD ALGOUSD $ 1.15
$0.032.51%
Volume 329.45 m Change $0.03 Open $1.15 Circulating 3.46 b Market Cap 3.98 b
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 4 w Zcash Founder Proposes Moving to A ‘More Decentralized’ & Eco-Friendly PoS as PoW Has ‘Security Flaws’ 1 mon Tether in ‘Open Dialogue’ with DOJ, says Company on Report of its Executives Being Under Probe for Bank Fraud

This means, only a small portion of the SOL supply is liquid and available for purchase in the market, which further puts upward pressure on the cryptocurrency.

Much like other growing metrics, Solana also has an increasing amount of total value locked (TVL) in it, currently sitting at a $3.44 billion peak, with Raydium accounting for 32.16% of it.

Solana-based DEX, Serum, which got the backing of FTX CEO Sam Bankman Fried, also has a $464 million value locked in it, up from $175 million a month back. SRM -2.07% Serum / USD SRMUSD $ 8.72
-$0.18-2.07%
Volume 639.21 m Change -$0.18 Open $8.72 Circulating 50 m Market Cap 435.76 m
10 h 76.8% of SOL Supply is Locked to Secure the Network and Not Available for Sale in the Market 1 d OpenSea Dominates the NFT Market, Floor Price Continues Its Uptrend as Alameda Apes In, Solana Joins Too 1 w South Koreans Turn to Serum (SRM) As Solana (SOL) Ecosystem Pumps

As we reported, Solana has also joined the NFT scene with their floor price – the cheapest price available for sale, moving up. The first-ever NFT on Solana, which gives its holders a share of revenue on their NFT platform, Solarians has their floor price rising to 39 SOL as well.

On Tuesday, Aurory, a Solana-powered NFT game, launched its NFTs whose floor price is already past 60 SOL. Black Friday actually came early for Aurory as minting the NFTs cost 1 SOL instead of initially stated 5 SOL.

However, some people fell victim to scams and ended up losing their SOL and NFTs both. Still, overall the project was a success as the team noted that the website saw 55k visitors rushing in to get their hands on NFTs, and everything was sold out in under 3 seconds.

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Author: AnTy

Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH

Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH

Solana (SOL) has finally hit three digits to make a new all-time high while the rest of the crypto market is slow to move, with NFTs dominating the limelight and FOMO.

Late on Sunday, SOL surged past $100 to be worth more than $29 billion in market capitalization to become the 8th largest cryptocurrency, trumping USDC and Polkadot (DOT). DOT -3.39% Polkadot / USD DOTUSD $ 24.80
-$0.84-3.39%
Volume 960.74 m Change -$0.84 Open $24.80 Circulating 987.58 m Market Cap 24.49 b
10 h Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH 2 d Risky Assets Rejoice: Bitcoin & Gold Spike and Stocks Hit Record High while Dollar Weakens on Powell’s Dovish Speech 6 d Bitcoin Unable to Attract Funds, Altcoins Recording Inflows with Ether’s Competitor Seeing the Largest

As of writing, SOL is trading at $100.71, up 5,222% YTD and nearly 200x from the May 2020 low of $0.5.

Amidst this SOL summer, the Ether competitor started trending on CoinGecko, becoming the 2nd highest trending asset on the crypto data site and also the 2nd most trending asset on the financial communications platform Stocktwits this weekend.

Solana is also the 52nd most held crypto asset on cryptocurrency exchange Coinbase.

In line with the price, the total value locked (TVL) in the Solana ecosystem is also reaching new all-time highs at $3.05 billion, up from just a billion dollars in May.

Other coins in the Solana ecosystem are also enjoying an uptrend. In the past week, APEX, SOLPAD, and RAY rallied between 60% to 100%.

With Etherem’s recent network update in the form of a London upgrade with EIP 1559 done earlier this month, speculators are turning their attention toward rival blockchains and their tokens, said Avi Felman co-portfolio manager at BlockTower Capital, in an interview.

The faster and cheaper alternative to Ethereum, Solana, isn’t the only one pumping right now. Compared to Ether’s 336% YTD gains, Cardano (ADA) is up 1,505% and Avalanche (AVAX) 1,157%. ETH -0.15% Ethereum / USD ETHUSD $ 3,184.95
-$4.78-0.15%
Volume 13.04 b Change -$4.78 Open $3,184.95 Circulating 117.32 m Market Cap 373.65 b
9 h Canada’s Security Regulator Prohibits Regulated Crypto Exchanges from Trading in Tether (USDT) 10 h Historically September Records Losses, But Will This Time Be Any Different? 10 h Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH
ADA -2.27% Cardano / USD ADAUSD $ 2.81
-$0.06-2.27%
Volume 4.84 b Change -$0.06 Open $2.81 Circulating 32.15 b Market Cap 90.18 b
10 h Investors Turn to Ether Competitors, Solana’s SOL Hits 3-Digits to Mark A New ATH 4 d Crypto Accounts for 73% of eToro’s Total Trading Commission in Q2, “Strong Interest from Retail” 4 d Cardano Foundation Ramps Up Drive for Regulatory Compliance With Coinfirm Partnership
ADAX 19.38% ADAX / USD ADAXUSD $ 2.11
$0.4119.38%
Volume 38.24 m Change $0.41 Open $2.11 Circulating 0 Market Cap 0

Besides Solana summer, other coins trending up include Tezos, which jumped 50% in the last 7-days. Fantom, SafeMoon, Horizen, LUNA, and Decentraland are also up 20% to 50%.

Arweave (AR) is also up 50% during this period and 285% in August. This storage solution that offers data permanence among all the centralized and decentralized storage solutions is “the most feasible solution to make decentralised data storage gain wider adoption,” wrote Molly of eGirl Capital, which is invested in the cryptocurrency.

The VC firm’s website post further states that Arweave currently only accounts for 0.1% of the total decentralized storage and only 8% of its market value. However, they believe with its superior technology and design, “there is still a lot of room for Arweave to grow in the future.”

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Author: AnTy

Chainlink (LINK) Blockchain Oracle Goes Live on Solana (SOL) Devnet

Chainlink (LINK) Blockchain Oracle Goes Live on Solana (SOL) Devnet

The Solana ecosystem has been making some expansion plays recently as it hopes to sign on more developers and create an enabling environment for crypto projects.

The blockchain has successfully integrated Chainlink – the most popular blockchain network oracle in its recent round of integrations.

Offering Real-Time Price Data to Developers

Blockchain oracles are third parties that are integrated into blockchains to feed them live information. They serve as bridges between a blockchain network and the real world, offering off-chain data to smart contracts and expanding their scope of operation. When it comes to blockchain oracles, none quite measures up to Chainlink.

Chainlink has become especially popular in the decentralized finance (DeFi) space for providing accurate real-time data metrics to protocols. Now that it is live on Solana, the latter appears to have taken another bold step towards being a hub for DeFi. According to a tweet from Chainlink, the protocol’s Live Feeds are now able on the Solana blockchain, making it easy for Solana developers to access the data.

In a separate announcement, Solana explained that the Chainlink price feeds could be used in most DeFi apps, allowing developers to save time and money by leveraging on its offering. Solana already reports sub-second updates, capturing the volatility in crypto prices. With Chainlink now in the picture, the blockchain would become even more accurate.

Anatoly Yakovenko, founder and CEO of Solana Labs, explained that this integration would be especially beneficial as it combines a high-quality oracle with a high-speed blockchain network. This integration, as he explained, could take DeFi to the next level.

Meanwhile, the recent integration is only available on the Solana devnet. Mainnet deployment is expected to be complete in the last quarter of the year.

Expanding to Accommodate DeFi

The integration between Solana and Chainlink has been months in the making. Late last year, Raj Gokal, the operations chief at Solana Labs, confirmed that they were working on integrating Chainlink’s oracle as a standard across all decentralized applications (dApps) running on the blockchain. Gokal said,

“By doing so, Dapps will get secure access to all the inputs and outputs they need while avoiding the major pitfalls with trying to deploy self-made oracles, such as long time delays, additional expenses, and even fatal security flaws.”

The Chainlink news is only the second major oracle-related development coming from Solana. Earlier this week, Pyth Network – a cross-chain, decentralized data oracle built on Solana – went live. The oracle had only been available on Solana’s devnet for a while, but today, a full mainnet launch is expected to occur.

Pyth is already gaining some traction, with backing from several organizations – including top crypto exchange FTX. With a mainnet launch, developers will integrate its real-time market data into their DeFi protocols.

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Author: Jimmy Aki