The price of Solana 's native token, SOL, has surged in the last 24 hours, hitting a daily high of $95.91 on Monday morning.
Despite backtracking to $94.35 at the time of writing, SOL is still one of the top gainers of the day, up 5.4% over the last 24 hours.
With a market cap of $30.14 billion, SOL is currently the eighth-largest crypto asset, according to CoinGecko. Solana’s closest competitor is Cardano with a market cap of $30.95 billion.
The latest price action may have been spurred on by moves from the Solana Foundation, a Swiss-based non-profit organization behind the network's development, to arrange a series of in-person events across the globe aimed at supporting the developer ecosystem.
Called "The Hacker House," the world tour of physical events will be happening in the coming weeks in cities including Moscow, Prague, Berlin, and New York, as well as Brazil's Florianópolis and Nassau, the capital of the Bahamas.
The crew is adding several new stops to the World Tour, including…
— Solana Hacker House | Moscow Feb. 22nd-26th (@hackerhouses) February 18, 2022
Often dubbed "the Ethereum killer," Solana is an advanced blockchain platform specifically designed to support massively scaling decentralized applications (dApps).
Despite some recent controversies, including the network's "partial outages" and the community's monetary disputes, Solana is enjoying growing popularity in the world of non-fungible tokens (NFTs) and decentralized finance (DeFi), with as much as $7.6 billion in total value in Solana-based projects.
Terra, Ethereum post gains
Among the ten largest cryptocurrencies, Terra (LUNA) climbed 5.9% over the last 24 hours to $51.85, while Ethereum is up 3.4% over the day, currently changing hands at $2,725, per CoinGecko.
Plasma attracted $500 million in stablecoin deposits in mere minutes Monday for its upcoming token sale—and one user spent $100,000 on fees in an attempt to jump the queue.
Traders' bullishness around the public sale has led some to believe that the initial coin offering trend is back. ICOs were all the rage in 2017, but fizzled out due to a string of failed projects and growing regulatory scrutiny.
In its documentation, Plasma is described as a Bitcoin sidechain that will use the network as a s...
Glauber Contessoto rose to crypto fame in 2021 when he became what was believed to be the first “Dogecoin Millionaire”—a title he wore proudly. Now, four years later, he’s claimed the title of “Pepe Millionaire,” while his DOGE stash has dipped slightly below that milestone level.
Across six wallets shared and verified with Decrypt, Contessoto now owns approximately $1.116 million of the Ethereum meme coin PEPE.
This is in addition to his Dogecoin stash that he has become famous for. Contessoto...
America's biggest crypto exchange Coinbase introduced two new "wrapped" tokens this week, allowing traders to use XRP and Dogecoin on DeFi protocols.
By introducing cbDOGE and cbXRP, Coinbase is hoping to address surging demand for cross-chain functionality in the complex DeFi world, the company and industry observers told Decrypt.
The exchange is making the new offerings available on its own Ethereum layer-2 Base network.
Coinbase holds 1:1 reserves of the underlying assets that back Coinbas...
