Solana Rallies 9%, Protocol Metaplex Launches New Digital Assets Standard For NFTs
Portfolio Pulse from Khyathi Dalal
Metaplex, a protocol on the Solana blockchain, has announced a new standard for immutable digital assets, which is expected to enhance trust in the assets stored on the Solana network. This announcement coincides with a 9.1% increase in SOL's price over the past week. The new standard includes Metaplex Inscriptions and Engravings, aiming to ensure on-chain and immutable digital assets within the Solana ecosystem, as opposed to relying on external services like Arweave, IPFS, and S3.
December 19, 2023 | 3:10 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The launch of a new digital assets standard by Metaplex on the Solana blockchain is likely to increase investor confidence in SOL, potentially leading to a short-term price increase.
The announcement of a new standard for immutable digital assets is a positive development for Solana, as it enhances the blockchain's capabilities and trustworthiness. This, coupled with the recent price surge, suggests a bullish sentiment that could lead to further short-term gains for SOL.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100