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SOLUSD

Solana / US Dollar

Industry

Digital Currency

Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Native to Solana's blockchain is the SOL token which provides network security through staking as well as a means of transferring value.

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Colosseum, a new venture capital fund, has been launched by a former Solana veteran to support blockchain startups, particularly those on the Solana platform. The organization will take over the organization of Solana Foundation’s hackathons, which have been instrumental in the ecosystem's growth. Colosseum will also introduce an Accelerator Program offering $250,000 in pre-seed capital to select hackathon winners. Despite the bear market, Solana has seen an 83% increase in new developer growth and a rise in developer retention rates from 31% to 50%.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 5:30 pm

Joe Lonsdale, co-founder of Palantir Technologies, discussed on CNBC the potential of AI as a catalyst for cryptocurrencies. He suggested that AI adoption could lead to increased productivity and that AI agents might use cryptocurrencies like Bitcoin, Ethereum, and Solana for transactions. Lonsdale also sees crypto as a safe asset in inflationary times. Crypto prices have recently cooled after a surge at the end of 2023.

Portfolio Pulse from Erica Kollmann

January 25, 2024 | 3:16 pm

Dogecoin (DOGE) and Shiba Inu (SHIB) have outperformed newer Solana-based memecoins Dogwifhat and Myro, which have seen significant declines from their recent highs. Despite a general downturn in the cryptocurrency market, Dogecoin maintains a strong network dominance, with high transaction activity suggesting its potential as a payment system. Shiba Inu's Shibarium blockchain has also seen a surge in activity. A notable SHIB transaction and a SHIB whale's involvement in burning tokens have been highlighted, indicating continued interest in these meme coins.

Portfolio Pulse from Khyathi Dalal

January 23, 2024 | 10:54 pm

The cryptocurrency market is experiencing a downturn, with major coins like Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) in the red. Despite this, an analyst predicts Ethereum could outperform Bitcoin (BTC) in the near future. Ethereum's upcoming Dencun upgrade is expected to improve transaction speeds and reduce costs, which may be driving whale accumulation of the asset. Ethereum's total value locked has also increased by 9.1% over the past month.

Portfolio Pulse from Khyathi Dalal

January 22, 2024 | 10:33 pm

Ondo Finance, a tokenization project backed by Coinbase Global Inc (NASDAQ:COIN), has announced its expansion into the Asia Pacific region, coinciding with a 60% surge in the price of its ONDO token over the past week. The company has opened its first office in the region and appointed Ashwin Khosa as the vice president of Business Development for Asia Pacific. Ondo Finance has also announced partnerships with Mantle and Solana to expand the USDY stablecoin to their blockchains. The company offers four primary products, including tokenized wrappers of BlackRock (NASDAQ:BLK) funds and a lending protocol. Cryptocurrency analysts anticipate listings on major exchanges and significant growth for the ONDO token.

Portfolio Pulse from Khyathi Dalal

January 22, 2024 | 7:42 pm

Solana's (CRYPTO: SOL) price has decreased by 6.44% in the last 24 hours, reaching $87.34, continuing a negative trend from the past week with a 5.0% loss. Trading volume has dropped by 35.0%, and the circulating supply slightly decreased by 0.06%, with a current market cap ranking of #5 at $37.73 billion.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 3:00 pm

Anita Max Wynn (WYNN), a Solana-based memecoin, saw a 70% price surge after being listed on Poloniex and receiving a casual mention from Drake's partner Stake.com. The coin's rally occurred despite an initial drop following Drake's involvement. WYNN's trading volume hit $7.7 million, outperforming other memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), which saw around 1% gains.

Portfolio Pulse from Khyathi Dalal

January 19, 2024 | 10:21 pm

A Solana influencer, Bangerz, microwaved a Solana Saga smartphone and turned the event into an NFT collection, which was minted for free on 3.land and traded on secondary markets. The Saga phones, which include a free airdrop of BONK tokens, have sold out despite initial sales challenges. Solana Labs is launching a new, more affordable model, 'Chapter 2', with 30,000 pre-orders already. SOL's price is currently down 6.92%.

Portfolio Pulse from Mehab Qureshi

January 19, 2024 | 11:08 am

A Solana influencer, Bangerz, microwaved a Solana Saga smartphone and turned the event into an NFT collection, which was minted for free on 3.land and traded on secondary markets. Despite initial interest, prices of the NFTs have dropped. Solana Labs is launching a new, more affordable phone model, 'Chapter 2', with 30,000 pre-orders already made. SOL's price has fallen by 6.92% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

January 19, 2024 | 11:08 am

Franklin Templeton, a $1.5 trillion fund, handed over its Twitter account to its Digital Assets Research Team, which posted memes and bullish takes on cryptocurrencies like Bitcoin and Solana. This reflects a broader culture shift in traditional finance towards embracing cryptocurrency culture. The fund's actions, including adding 'laser eyes' to its avatar and discussing a potential Solana ETF, indicate a growing accommodation of crypto by traditional financial institutions. Industry figures like Nic Carter and Emin Gün Sirer reacted to the event, while BlackRock CEO Larry Fink and JPMorgan CEO Jamie Dimon expressed support for tokenization.

Portfolio Pulse from Ivan Crnogatić

January 18, 2024 | 5:44 pm

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