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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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Dog-themed cryptocurrencies, known as dog coins, are outperforming the broader crypto market, with Solana-native dog coin Bonk (BONK) leading the surge with a 1,441% rally. Solana (SOL) has also outperformed recently, which may be contributing to BONK's rise. Dogecoin (DOGE) has seen significant whale movement and plans to send physical tokens to the moon. Floki (FLOKI) has entered a marketing partnership with Indian cricket teams, and Shiba Inu (SHIB) has partnered with Manny Pacquiao for fundraising. Dogecoin millionaire Glauber Contessoto plans to invest in additional altcoins, including Avalanche (AVAX).

Portfolio Pulse from Khyathi Dalal

November 17, 2023 | 7:36 pm

Solana (CRYPTO: SOL) has seen a significant price drop of 10.16% in the last 24 hours, falling to $56.42, despite a 15% increase over the past week. The volatility is evident from the widening of Bollinger Bands on the price charts. Trading volume for Solana has risen by 3%, and the circulating supply has increased by 2.29%, bringing it to 422.75 million coins. Solana currently holds the #6 market cap ranking at $23.76 billion.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 3:00 pm

Bitcoin and Ethereum have fallen below key levels of $37,000 and $2,000 respectively. The global crypto market cap declined by 2.8% to $1.38 trillion. FTX Token and Lido DAO were among the top losers, while Mantle led the gainers. FTX Token saw an 18.1% drop, and Lido DAO fell by 11%. Other notable gainers include Dogecoin, Monero, NEAR Protocol, and yearn.finance.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 2:36 pm

Sam Bankman-Fried, former CEO of FTX, was found guilty on seven counts of criminal fraud, potentially facing 115 years in prison. The verdict and his arrest in December 2022 caused a decline in major cryptocurrencies, including Solana (CRYPTO: SOL). FTX's bankruptcy and misuse of customer funds also impacted the market. However, Solana has rebounded since then, with a $1,000 investment in SOL at the time of Bankman-Fried's arrest now worth $4,556.95, a 355.7% return. In contrast, the S&P 500 ETF Trust (NYSEARCA: SPY) is up only 12.7% over the same period. Solana remains a top 10 cryptocurrency by market capitalization.

Portfolio Pulse from Chris Katje

November 16, 2023 | 9:36 pm

Ether (ETH) has surged over 3% in the last 24 hours, now trading above $2,000. Ethereum's competitors, Solana (SOL) and Avalanche (AVAX), have seen significant gains in 2023, with SOL up 566% and AVAX up 87% year to date. SOL's price recovery follows a period of instability linked to Sam Bankman-Fried's legal issues, while AVAX's rise is attributed to interest from JPMorgan and Apollo in using blockchain for tokenizing funds.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 3:31 am

FTX-labelled addresses transferred 250,000 Solana (SOL) and $4 million in Tether (USDT) to Binance and Wintermute. Solana's price increased by 3% in 24 hours, with a 27% gain over seven days and 155% over the month. The market cap exceeded $20 billion. The transfers are part of FTX's bankruptcy proceedings, with $100 million in Solana moved to exchanges recently. Despite the selling, Solana's price has not been negatively impacted.

Portfolio Pulse from Khyathi Dalal

November 14, 2023 | 10:34 pm

Mad Lads NFTs on the Solana blockchain have hit a new all-time high in price following the appointment of Can Sun, a former FTX general counsel, to lead Trek Labs, a startup associated with Backpack and Coral. Trek Labs, which has secured a Virtual Asset Service Provider license in Dubai, is offering a 10% stake in the company, valued at over $100 million. The beta signups for the Backpack exchange are currently open exclusively to Mad Lads NFT holders, potentially driving up demand for these NFTs.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 10:50 am

Crypto fund inflows have surpassed $1 billion in 2023, with Bitcoin, Ethereum, and Solana leading the charge. CoinShares reports a seven-week inflow streak, adding $293 million recently. Bitcoin investment products saw $240 million inflows, Ethereum had its highest inflows since August 2022 at $49.1 million, and Solana received $12.4 million. The upcoming Benzinga’s Future Of Digital Assets Event will discuss the potential impact of a Bitcoin ETF approval. Total assets under management are at their highest since May 2022, with a 9.6% increase over the past week and a 99% rise since the start of the year. Bitcoin ETPs and blockchain equity ETFs also saw significant inflows. Regionally, Canada leads in inflows, followed by the U.S., Germany, and Switzerland. Bitcoin's price was up 5%, Ethereum saw a 10% increase, and Solana led with a 33% gain over the past week.

Portfolio Pulse from Khyathi Dalal

November 13, 2023 | 10:29 pm

Solana's (CRYPTO: SOL) price has decreased by 5.04% over the past 24 hours to $55.95, despite a 42.0% increase over the past week. The trading volume has surged by 153.0%, and the circulating supply has grown by 0.41%. Solana's current market cap is $23.36 billion, ranking it 7th.

Portfolio Pulse from Benzinga Insights

November 13, 2023 | 3:00 pm

Solana (SOL) has reached a new annual high of $58, with a 40% increase in the past week. Analyst Jacob Canfield predicts that Solana could surge to $1,000 and potentially increase its market dominance to 12-15%. Canfield's analysis points to the breakout of SOLBTC from its weekly resistance and the broader uptrend in the cryptocurrency market. Despite the FTX bankruptcy estate selling 250,000 to 750,000 SOL tokens daily, Solana's price continues to rise.

Portfolio Pulse from Mehab Qureshi

November 13, 2023 | 6:11 am

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