Solana faces mixed news cycle
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$96,293.00
-0.45%$1,841.63
0.20%$2.19
-0.50%$599.03
-0.12%$147.66
0.02%$0.999959
0.00%$0.176642
-2.40%$0.705139
1.61%$0.245381
-0.80%$1,841.53
0.33%$96,223.00
-0.58%$3.32
-2.96%$14.29
-2.32%$20.73
-2.08%$0.271028
-0.31%$8.94
0.92%$0.999929
-0.01%$3.10
-1.34%$0.00001304
-2.26%$2,215.74
0.31%$0.180895
-2.31%$364.15
-3.81%$21.14
1.59%$86.92
-0.67%$4.05
-2.54%$1,843.39
0.28%$1.00
-0.02%$4.38
-0.92%$274.00
-2.47%$1.001
0.03%$28.86
-0.39%$0.585813
-1.94%$1,964.09
0.17%$96,361.00
-0.32%$0.00000824
-4.06%$5.22
-3.35%$358.03
-3.76%$1.05
0.02%$5.15
-1.40%$51.33
-0.16%$2.44
-2.30%$1.00
0.00%$0.878379
-4.11%$180.06
3.57%$21.83
0.28%$16.74
-2.44%$4.75
-4.48%$0.095679
-6.00%$0.090218
-1.52%$0.730863
-0.18%$30.52
-3.90%$4.61
-4.31%$0.02625738
-3.39%$11.28
-12.39%$1.00
0.01%$1.17
0.02%$0.230115
-2.95%$96,038.00
-0.66%$4.23
-2.78%$4.29
-0.05%$0.209304
-2.01%$0.6883
-2.97%$2.66
-4.48%$0.548175
-4.02%$0.294367
-4.61%$0.322498
-4.34%$2.46
-3.82%$4.12
-0.07%$95,897.00
-0.55%$0.99904
0.24%$10.77
-0.10%$0.00001696
-8.26%$1,527.18
-2.41%$0.956793
-6.23%$0.435784
-5.93%$1.26
0.25%$84.57
0.57%$154.78
-0.16%$0.01899986
6.63%$0.775351
-5.11%$0.073789
-4.08%$1.73
-1.02%$0.681903
-3.47%$1,839.59
0.20%$0.733011
1.73%$1.10
-4.68%$0.209076
-4.19%$1,918.92
0.12%$0.578843
-11.49%$1.002
0.18%$3.76
-6.61%$0.713024
-3.14%$9.72
-4.88%$0.999308
-0.03%$0.094225
-4.04%$0.999629
-0.03%$598.93
-0.09%$2,090.62
0.34%$14.12
6.92%$3,255.26
0.03%$1.00
-0.02%$2.69
-6.11%$0.01607708
-3.76%$0.207545
-3.33%$3,261.70
0.28%$0.00008006
-6.33%$190.30
0.02%$96,520.00
-0.08%$163.09
0.01%$96,582.00
0.12%$0.826919
-3.15%$95,848.00
-0.27%$36.99
-4.73%$0.723403
-5.05%$0.703806
-10.16%$3.85
-0.03%$0.01569977
-6.13%$1,958.68
0.25%$0.284105
-4.95%$0.118581
-3.72%$0.553203
-3.95%$0.00000069
-2.30%$0.01053237
-11.33%$0.997676
-0.01%$3.08
6.54%$1.99
-2.60%$19.00
2.24%$0.998902
-0.01%$0.387964
-3.47%$1.10
-0.34%$1,928.62
0.23%$0.556186
-1.81%$0.057992
-12.07%$35.67
-1.03%$0.570948
-11.53%$0.01692929
-3.48%$0.300836
-4.18%$3.34
-6.24%$1.66
-7.09%$0.99999
0.01%$0.636604
-5.94%$0.141951
-5.22%$0.0055333
-1.60%$0.00885743
-4.76%$98,398.00
0.00%$0.998766
0.04%$0.528579
-5.00%$1,927.18
0.38%$96,223.00
-0.29%$0.413501
-2.71%$0.614452
-3.41%$0.066257
0.96%$7.21
-8.18%$16.56
-6.19%$0.99999
0.01%$94,034.00
1.91%$110.92
0.00%$0.423468
-1.95%$0.176741
-2.30%$1.28
-2.04%$0.180409
-3.05%$0.1796
-6.61%$96,002.00
-0.73%$0.0000218
-3.68%$1,842.15
0.20%$5.87
-4.34%$0.00000042
-0.54%$1.50
-2.16%$0.131935
-7.79%$1.084
-0.01%$1.001
0.24%$0.503448
-7.03%$1,839.72
0.07%$0.414813
-2.51%$2.46
-4.87%$0.0075626
-4.78%$1,961.41
0.35%$0.04059639
-3.82%$0.074273
-5.26%$0.229929
-3.13%$3.15
-6.09%$1.52
-9.22%$1,843.37
0.38%$0.081561
-6.90%$0.372969
-5.39%$40.48
-2.63%$1,840.23
0.42%$21.99
-0.44%$1.35
-5.22%$32.34
-3.60%$0.03563047
-2.76%$1.00
0.24%$0.174823
-3.43%$0.551162
-1.59%$0.132268
0.69%$0.01784733
-0.43%$0.361996
-3.45%$0.0040082
-2.37%$1,887.61
0.77%$0.801323
-1.70%$1.00
-0.03%$0.00480798
-11.96%$0.00006
-5.05%$0.999876
0.13%$0.704689
-3.24%$1.00
-0.03%$0.999825
0.01%$0.313993
-3.01%$96,162.00
-0.47%$0.686973
-5.86%$21.17
1.70%$1,838.86
0.64%$0.00000145
-1.06%$0.265346
-11.97%$111.94
-1.26%$20.80
-1.13%$0.230483
-3.54%$0.136342
-1.00%$96,161.00
-0.51%$2.51
-6.63%$22.66
-3.52%$0.00277023
-5.60%$0.199454
-4.46%$0.999803
0.00%$3,241.48
-0.03%$1,950.00
0.29%$0.467237
-3.59%$0.999204
-0.06%$2.82
0.11%$0.265594
-1.21%$0.03124607
-7.72%$0.522897
-2.03%$0.03765469
-0.91%$0.00343972
1.39%$1.098
0.11%$3.15
-6.61%$3.09
-2.71%$0.00280859
-9.49%$1,933.16
-0.48%$15.14
-2.94%$2,022.27
0.30%$2,007.89
0.31%$1.00
-0.00%$0.01245479
-4.25%$96,132.00
-0.13%$0.999501
-0.01%$1,841.55
0.18%$1.46
0.48%Reading
Ethereum competitor Solana grew a staggering 22.7% overnight to hit a price of $83.21 barely a week after beating its former all-time high of $78.63.
Today’s overnight surge sees the currency establishing a firmer foothold as the tenth-biggest crypto by market cap, according to data aggregator CoinGecko.
Like Ethererum, the Solana blockchain utilizes smart contracts—lines of code that execute “if-then” statements akin to productivity tool IFTTT but for crypto—to enable a whole world of financial services and decentralized apps to be built on the blockchain.
Solana’s network mines its native SOL token using a proof-of-stake (PoS) consensus mechanism. This means that it's a lot greener than Bitcoin and Ethereum, which both currently use the energy-intensive proof-of-work (PoW) model.
In PoW, network miners that are capable of verifying the most network transactions are those with the most hardware muscle and the highest electricity bills. In a PoS environment, however, the miners who validate the most transactions are those that stake the most crypto.
Ethereum is hoping to migrate to the PoS model at some point during the rollout of its Ethereum 2.0 upgrade.
Energy consumption is not the only metric where Solana currently leaves Ethereum trailing. Solana can handle about 1,000 live transactions a second and its developers claim that number could theoretically be as high as 50,000—significantly greater than Ethereum’s humble capacity of around 15 transactions a second.
Today’s monumental price surge reveals keen investment in Solana, though the network has been affected by some bad news over the last week.
Last weekend, the Luna Yield exit scam defrauded investors out of $6.7 million.
But in the world of blockchain, one bad apple doesn’t necessarily spoil the whole barrel.
Arweave’s native AR token has mounted an impressive rally over the past few hours, rising from $20.24 to its current price of $24.78, according to Nomics. Even more impressive has been the token’s 66% rise over the past week. Part of this run can be attributed to the growing non-fungible token (NFT) ecosystem on the Solana blockchain too. An NFT is a blockchain-based digital certificate that gives the holder unique ownership rights over the content in that NFT, be it art, music, or concert tic...
Yesterday, digital asset management company Osprey Funds beat out industry titan Grayscale to prepare a Solana investment product. The Osprey Solana Trust was registered with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
The move signals some weighty institutional backing for the one-year-old currency.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Equity analysts from investment firms Benchmark and Bernstein reiterated their buy ratings and lofty price targets for Strategy (MSTR), a day after the company said that it had recorded a loss of $5.9 billion on its Bitcoin holdings in its first quarter of 2025. The analysts highlighted Strategy’s continued strategy to purchase more Bitcoin, which has become its core business after the company pivoted from software development about five years ago. “While the number of companies that have soug...
Riot Platforms posted mixed earnings results for the first quarter as it took steps to mitigate the effects of mining industry headwinds on its business. The Bitcoin miner clocked $161.39 million in revenue in the three-month period ending on March 31, up 13% from the previous quarter, the firm said Thursday in a statement. That's roughly 2% above Wall Street’s expectations of $160.72 million. The company's total revenue was largely boosted by its Bitcoin mining income, which jumped 100% in th...
Fortnite maker Epic Games’ antitrust case against Apple benefited the crypto industry on Thursday, when the iPhone maker loosened restrictions on developers’ ability to offer apps in the U.S. that direct users to non-standard purchasing methods or digital collectibles. Apple updated its iOS App Store review guidelines after a U.S. District Judge found this week that the tech titan “willfully” violated a court injunction issued in 2021. Moving forward, the federal court prohibited Apple from coll...