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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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Google search volume for 'Solana' has increased by 250% in two months, attributed to Solana's price surge of 224% and the popularity of BONK memecoin on its network. Solana Saga phones sold out, with some fetching $5,000 on eBay, driven by demand for the Bonk airdrop. Other cryptocurrencies like Bitcoin and Ethereum also saw increased search volumes, but less dramatically.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 4:51 am

Circle has launched its euro-backed stablecoin, EURC, on the Solana blockchain, which is known for low-cost and fast transactions. This addition will facilitate global trading, borrowing, lending, and instant foreign exchange trading. Solana has seen a 22.5% gain in the past 30 days, contributing to a 260% surge over the last three months. EURC is also available on Avalanche, Ethereum, and Stellar blockchains. Circle's Mint will help businesses convert EUR to and from EURC smoothly, and EURC is expected to comply with the upcoming MiCA regulation in Europe.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 9:48 pm

Bonk (CRYPTO: BONK) has seen a 578% increase in the past month, outperforming Shiba Inu (CRYPTO: SHIB), which gained 18.9% in the same period. Arthur Hayes predicts BONK could surpass SHIB as the second-largest dog-themed memecoin. BONK's listing on major exchanges like Coinbase and Binance contributed to its price surge, although it experienced a pullback due to profit-taking. BONK aims to become the community coin of Solana (CRYPTO: SOL) and be used in various DApps.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 8:49 pm

Bitcoin (BTC) and Ethereum (ETH) experienced fund outflows for the first time in months, with Bitcoin seeing $32.8 million and Ethereum $4.3 million in outflows. In contrast, Solana (SOL) led weekly inflows with $10.6 million. Other altcoins like Cardano (ADA) and XRP also saw inflows. The U.S., Germany, and Sweden faced outflows, while Switzerland, Canada, and Brazil had inflows. Blockchain equities reported significant inflows, marking the largest on record over the past 9 weeks.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 3:33 pm

Solana Saga phones have sold out due to the inclusion of a free Bonk memecoin airdrop with each purchase. The phones, originally priced at $599, fetched up to $5,000 on eBay. The demand was driven by a 800% surge in Bonk's value over the last 30 days. Solana-based projects like Solend are also offering airdrops to Saga phone holders, indicating broader interest beyond the Bonk memecoin.

Portfolio Pulse from Mehab Qureshi

December 18, 2023 | 8:19 am

Bitcoin and Ethereum saw declines over the past week, while BONK and Avalanche led the gainers. BONK was listed on Binance despite volatility warnings. Terra Classic and Chainlink were among the top losers. Avalanche's transaction growth and positive analyst outlook, along with Cardano's network activity, contributed to their gains. Chainlink's new staking pool and XRP's legal concerns impacted their prices. The FOMC meeting and an anti-crypto bill by Sen. Elizabeth Warren influenced market sentiment. BlackRock's move and SEC meetings regarding Bitcoin ETFs were notable developments. A security breach at Ledger due to a phishing attack was also reported.

Portfolio Pulse from Khyathi Dalal

December 15, 2023 | 9:52 pm

Cyber Fund has launched a $100 million venture capital division to accelerate projects combining blockchain technology and AI. The firm has previously invested in over 150 projects, including Ethereum, Dfinity, Cosmos, Solana, and Celestia. Cyber Fund has also developed products like P2P.org and Lido DAO, and through the =nil; Foundation, it has advanced cryptographic research. The new fund will focus on sectors such as advanced cryptography, DeFi, network states, cybernetic organizations, reputation systems, and AI-driven systems.

Portfolio Pulse from Murtuza Merchant

December 15, 2023 | 3:04 pm

Solana's (CRYPTO: SOL) price has increased by 5.96% in the last 24 hours, reaching $76.15, and has seen a 4.0% gain over the past week. Despite a decrease in trading volume by 31.0% and a slight drop in circulating supply, Solana maintains a market cap ranking of #6 at $32.30 billion. The volatility of Solana's price is depicted through Bollinger Bands in the provided chart.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 3:00 pm

Binance's listing of Solana's meme coin BONK led to a significant price surge, with an increase of over 1000% within a month. A trader capitalized on this by selling 52.3 billion BONK for approximately $927,000, securing a profit of around $784,000. The trader had initially acquired 69 billion BONK at $0.0000021 per token and staked them from October 30 to November 29. The listing on Binance, along with Coinbase's consideration of BONK for its exploration roadmap and the launch of BONKBot, has contributed to the enthusiasm around the token.

Portfolio Pulse from Mehab Qureshi

December 15, 2023 | 1:00 pm

Solana developers received a BONK token airdrop last Christmas initially worth $300, which has now appreciated to $500,000. The meme coin BONK surged 821% in 30 days, with its market cap exceeding $1 billion. Around 173 developers received 25 billion BONK tokens each. BONK's trading volume increased by 140%, outperforming other meme cryptocurrencies like Dogecoin and Shiba Inu.

Portfolio Pulse from Mehab Qureshi

December 15, 2023 | 12:44 pm

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