Solana Financial News

The company behind the Spartan Race has released a nonfungible token (NFT) collection which will immortalize the names of the initial holders in stone, with plans to build a 35-foot (10.5 meters) statue in Ancient Sparta encircled with 15,000 name-engraved stones.

Solana ecosystem developer Coral has closed a $20 million investment round backed by some of crypto’s biggest venture funds, setting the stage for launching its new interactive wallet later this month. 

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Hype does not always equate to greater adoption, as the on-chain data from the second quarter of 2022 shows Solana (SOL) surpassing Ethereum (ETH) in users’ daily transactions despite various drawbacks from both macroeconomic conditions and network outages. 

Internet of Things (IoT) blockchain network Helium could transition to the Solana blockchain following a new HIP 70 governance proposal launched on Aug. 30. 

A decentralized cryptocurrency (DEX) options exchange cut its own life short after unwittingly executing a command that closed its mainnet program and made it irrecoverable.

Digital asset custody platform Fireblocks has launched support for Solana, giving its thousands of users access to the developer network’s applications and infrastructure. 

After plunging late last week, bitcoin and ether traded sideways. Along with the cues from the US Fed, 'The Merge'' in Ethereum is much awaited by the crypto traders. Ethereum rose more than 3 per cent, whereas Solana gained 2 per cent. Polygon, BNB and Tron were marginally down. The global cryptocurrency market cap was trading at the $1.04 trillion mark, rising about 2 per cent in the last 24 hours. However, the total trading volume dropped more than 7 per cent close to $65.46 billion.

Barring Avalanche and Polkadot, which posted mild gains, all other top crypto tokens were trading lower on Wednesday. Solana dropped 3 per cent, whereas Dogecoin and Polygon shed 2 per cent each. The global cryptocurrency market cap was trading marginally lower at $1.02 trillion mark, dropping less than a per cent in the last 24 hours. However, the total trading volume also remained stable, close to $70.56 billion.What's cooking in IndiaRBI Governor Shaktikanta Das has lashed out at crypto assets once again. In an interview with ET Now, Das reiterated his concerns over the crypto assets.

Chingari has launched its video NFT marketplace named 'Creator Cuts.' The company said that it is the world's first ever video NFT (v-NFT) marketplace, enabling creators to mint video NFTs Launched in 2018 and powered by Gari Token, Chingari is an on-chain social app and claimed this launch as a revolutionary new offering, fostering and proliferating the creator economy. However, only marquee videos from top creators will be minted as NFTs. Creator Cuts is aimed at empowering the creators with a financial and community engagement opportunity, along with enabling the community to connect with their favourite creators by owning a piece of their unique art. Creators will be able to derive monetary benefits from the same. Buyers of these NFTs will get 10 per cent of the daily income in Gari tokens earned by the creator on the engagement they receive on their videos on the Chingari app.

crypto tokens traded mixed on Tuesday after the US Fed turned hawkish amid renewed inflation worries, which spooked traders. Most crypto tokens have dropped up to 20 per cent in the last one week, following the release of US FOMC minutes, suggesting the bank would maintain its current inflation prescription of 75-basis point, interest rate hikes.Solana topped among the losers followed by Shiba Inu with a 2 per cent cut, whereas Cardani and Ethereum posted similar gains each. The global cryptocurrency market cap was trading marginally higher at the $1.02 trillion mark, almost unchanged in the last 24 hours. However, the total trading volume rallied over 18 per cent, close to $70.62 billion.What's cooking in IndiaThe interconnectedness between Indian equities market and crypto assets has increased nearly tenfold since the advent of the Covid-19 pandemic, the International Monetary Fund observed in a blog post and flagged the attendant risks.

Bitcoin was able to hold the $21,000 mark, to which it plunged after disappointing inflation numbers in Europe. Top crypto tokens were trading higher on Monday. BNB rose more than 5 per cent, whereas Solana, Shiba Inu and Polygon gained 3 per cent each. Dogecoin was the only altcoin in red. The global cryptocurrency market cap was trading marginally higher at the $1.02 trillion mark, rising more than a per cent in the last 24 hours. However, the total trading volume tumbled over 18 per cent, close to $59.37 billion.

Solana-based wallet provider Phantom has launched a new burn feature allowing users to remove spam non-fungible tokens (NFTs) sent by scammers.

Bitcoin breathed below $24,000, whereas Ethereum held at the $1,900 mark ahead of its much-awaited merge buzz on Tuesday. The crypto industry's latest indignities included a report that India regulators were investigating at least 10 crypto exchanges for allegedly assisting foreign firms launder money via crypto. Top crypto tokens were trading mixed on Tuesday afternoon. Meme Tokens like Dogecoin and Shiba Inu rose up to 6 per cent, whereas Uniswap plunged 5 per cent. Avalanche and Polygon dropped 2 per cent each. The global cryptocurrency market cap was trading marginally down at the $1.14 trillion mark, dropping as much as one per cent in the last 24 hours. However, the total trading volume tumbled almost 6 per cent, close to $68.95 billion.

Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup.

Solana released its first-ever, "Validator Health Report" which revealed information on its network operators. According to the report the network has over 1,900 block-producing nodes with nearly 1,688 (88.14%) of those run by independent entities. 

Ethereum Killer' by the crypto fanatics, Solana has been hit hard in the latest crypto winter. However, the blockchain network is buzzing over its latest ecosystem exploit which has wiped off tokens worth millions. Users have reported that their funds have been drained out without their knowledge and the latest hack has been on the 'hot' wallets which are connected to the internet including Phantom, Slope and TrustWallet.

The team behind the Solana (SOL) blockchain has tied the widespread hack that affected over 8,000 wallets and resulted in the loss of over USD 8m worth of funds to the closed-source Slope wallet.

Following a major hack in Solana-based wallets in the early hours of August 3, Indian cryptocurrency exchanges said it’s unlikely to impact all Indian Solana traders unless they were using one of the impacted wallets.

Blockchain developers have maintained their contributions to Web3 communities despite the latest market downturn, with Ethereum (ETH) leading the way as the strongest and largest community, according to a recent report by VC investment firm Telstra Ventures.

The cryptocurrency ecosystem has been rocked by a widespread exploit targeting Solana wallets that have been ongoing since Aug. 3. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms, alongside a host of cryptocurrency influencers, blockchain analytic and security firms and victims of the hack as it continued to unfold.