Solana In 2023: A Look Back At Top Storylines, Coin Surge — Plus Partnerships With Visa, Mastercard, Shopify And More
Portfolio Pulse from Chris Katje
Solana (SOL) ends 2023 on a high, reaching a new 52-week high and becoming a highly discussed cryptocurrency. Key highlights include airdrops, meme coins like Bonk (BONK) and Dogwifhat (WIF), and becoming the fourth-largest digital coin by market cap. Solana's partnerships with Visa (V), Mastercard (MA), and Shopify (SHOP) have strengthened its position. The Solana Saga mobile phone sold out, and the Helium Network migration to Solana was completed. Solana also launched a ChatGPT plugin and began tracking its carbon footprint. SOL's price surged over 800% YTD, outperforming Bitcoin (BTC) and Ethereum (ETH).
December 27, 2023 | 2:44 pm
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POSITIVE IMPACT
Mastercard's collaboration with Solana to improve trust and interoperability between web2 and web3 apps could enhance Mastercard's position in the blockchain space.
The partnership with Solana could be seen as a strategic move for Mastercard to expand its presence in the blockchain and crypto industry, which may positively influence its stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Shopify's integration with Solana Pay for USDC stablecoin payments could enhance Shopify's e-commerce platform by offering new payment solutions and features.
The integration with Solana Pay could be seen as an innovative step for Shopify, potentially making its platform more attractive to merchants and consumers, which may have a positive effect on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Solana's significant growth and partnerships with major companies like Visa, Mastercard, and Shopify, along with the launch of the Solana Saga mobile phone and a ChatGPT plugin, have contributed to its impressive price surge.
The positive developments and partnerships with well-established companies, along with technological advancements, have likely contributed to increased investor confidence and demand for SOL, driving up its price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Visa's expansion of its USDC stablecoin settlement pilot to Solana could position Visa as a leader in modernizing cross-border payments and settlements.
Visa's integration with Solana for stablecoin settlements is a forward-looking initiative that could attract positive investor sentiment, potentially impacting its stock price favorably in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70