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SOL Price:
$0.8 B
All Time High:
Market Cap:
$12 B

Circulating Supply:
Total Supply:
Max Supply:


The price of #SOL today is $34.35 USD.

The lowest SOL price for this period was $0, the highest was $34.35, and the exact current price of one SOL crypto coin is $34.34753.

The all-time high SOL coin price was $260.

Use our custom price calculator to see the hypothetical price of SOL with market cap of ETH or other crypto coins.


The code for Solana is #SOL.

Solana is 2.5 years old.


The current market capitalization for Solana is $12,190,392,150.

Solana is ranked #9 out of all coins, by market cap (and other factors).


The trading volume is very large during the past 24 hours for #SOL.

Today's 24-hour trading volume across all exchanges for Solana is $801,202,035.


The circulating supply of SOL is 354,913,165 coins, which is 67% of the total coin supply.


SOL is well integrated with many pairings with other cryptocurrencies and is listed on at least 61 crypto exchanges.

View #SOL trading pairs and crypto exchanges that currently support #SOL purchase.


Note that there are multiple coins that share the code #SOL, and you can view them on our SOL disambiguation page.



Announcing the Solana Foundation x Serum DeFi Hackathon

Bringing blazing speed, low fees, and scalability to Decentralized Finance. — Register for the DeFi hackathon today at for a chance to win up to $200k in prizes and an additional $200k in seed funding!** The Solana Foundation is excited to team up with Project Serum to host a global hackathon focused on DeFi! Registration for the event is now open, and the hackathon will run from February 15 through March 1st. Make sure to sign up here!Need some inspiration on what to build? Check out the list of project ideas to explore Public blockchains have enabled the proliferation of decentralized markets and are establishing a more open, transparent, and efficient financial system. The hackathon aims to bring together developers, designers, business operators, and entrepreneurs from around the world to experiment and deploy apps/tools that catapult the DeFi ecosystem forward. Anyone with an Internet connection can join, the only requirement is for builders to incorporate Solana or Serum into their project submissions. The event is supported by leading projects including Aave, Chainlink, SushiSwap, Circle, CoinGecko, and more. There is also an all-star lineup of judges and speakers from across the crypto space that are scheduled to present via live-stream throughout the registration period and hackathon. See the full event schedule at About the Hackathon By leveraging Solana’s speed, low fees, and newly released DeFi building blocks, participants can operate within an expansive design space to create novel DeFi apps and tools that scale the overall ecosystem to become more efficient, powerful, and sustainable. Builders are also encouraged to explore the use of Wormhole, a bi-directional bridge connecting Ethereum with Solana, and a new Chainlink oracle integration. Check out the official hackathon Github for comprehensive developer resources and a list of project ideas.To find a teammate, make sure to join our Discord chat and browse the teammate directory here. Participants will compete for up to $400k total in prizes. There is a $200k prize pool that will be distributed to the 9 best projects submitted during the hackathon. After, those top 9 teams will have the opportunity to continue building their projects in order to compete for a seed funding round. If you need more info about the hackathon structure, please refer to the official Github repo. Participants and teams may submit a maximum of 1 project by the hackathon deadline. Once all submissions are collected, the Solana Foundation and Serum teams will distribute a filtered list to the judges for evaluation. Teams and individuals are evaluated on the following criteria:FunctionalityPotential impactNoveltyDesignComposability After judges complete individual evaluations, the hackathon organizers will discuss with the judges to choose the winners based on the project’s weighted scores. Winners of the event will be announced shortly after the end of the hackathon. Once winners have been selected, the top 9 teams will have the opportunity to compete for an additional $200k in seed funding. This gives serious builders a chance at jumping full-time into the Solana ecosystem and receive extensive resources from the Solana Foundation, Project Serum, and leading venture capital firms. We are excited to see what is built during the hackathon, and we hope to see you at one of the live-streamed events! Head over to to register for the hackathon and receive helpful resources as the start date approaches. If you have technical questions about Solana or Serum, need to find a team, or want to receive updates, join our dedicated Discord chat. **The Solana Foundation x Serum DeFi Hackathon is a competition where projects will be evaluated by judges on their technological merits without consideration of legal viability. Participants in the Hackathon will create software solely for purposes of evaluation by judges as part of a competition and not for commercial deployment or release as part of the Hackathon. All participants must comply with applicable laws and regulations when releasing any software that they develop as part of the Hackathon. The Hackathon ideas and developer resources that Solana Foundation (“SF”) provides are for educational and inspirational purposes only. SF does not encourage, induce or sanction the deployment of any such applications in violation of applicable laws or regulations. SF does not encourage, induce or sanction the deployment, integration or use of any such applications (including the code comprising the Solana blockchain protocol) in violation of applicable laws or regulations and hereby prohibits any such deployment, integration or use. This includes use of any such applications by the reader (a) in violation of export control or sanctions laws of the United States or any other applicable jurisdiction, (b) if the reader is located in or ordinarily resident in a country or territory subject to comprehensive sanctions administered by the U.S. Office of Foreign Assets Control (OFAC), © if the reader is or is working on behalf of a Specially Designated National (SDN) or a person subject to similar blocking or denied party prohibitions, or (d) in violation of the Commodities and Exchange Act. The reader should be aware that U.S. export control and sanctions laws prohibit U.S. persons (and other persons that are subject to such laws) from transacting with persons in certain countries and territories or that are on the SDN list. As a project based primarily on open-source software, it is possible that such sanctioned persons may nevertheless bypass prohibitions, obtain the code comprising the Solana blockchain protocol (or other project code or applications) and deploy, integrate, or otherwise use it. Accordingly, there is a risk to individuals that other persons using the Solana blockchain protocol may be sanctioned persons and that transactions with such persons would be a violation of U.S. export controls and sanctions law. This risk applies to individuals, organizations, and other ecosystem participants that deploy, integrate, or use the Solana blockchain protocol code directly (e.g., as a node operator), and individuals that transact on the Solana blockchain through light clients, third party interfaces, and/or wallet software. In accordance with the open source Apache 2.0 license (“OS License”) pursuant to which the Solana Services are provided, by participating in the Hackathon, you hereby grant to Company and the Solana community a perpetual, irrevocable, royalty-free, worldwide, nonexclusive copyright license to reproduce, publicly display, publicly perform, distribute, create derivative works based upon, and otherwise use and sublicense any contributions or developments (“Developments”) provided by you in connection with the Hackathon and such derivative works in source code or object code form. We may reproduce and distribute copies of the Developments or derivative works thereof in any medium, with or without modifications, and in source code or object code form subject to the OS License. Any contribution intentionally submitted for inclusion as part of the Hackathon shall be under the terms and conditions of the OS License. You agree not to challenge or contest our rights or anyone else’s rights to use the Developments. You agree that it is your sole responsibility to obtain all permissions and releases necessary for the grant of the rights contained in this Section. You agree to take, at your expense, any further action (including execution of affidavits, tax forms, and other documents) reasonably requested by us to effect, perfect or confirm the rights as set forth in this Section. You will not be entitled to compensation for any use by Company, or its agents, licensees or assignees, of your contributions or developments, except as expressly provided herein. Announcing the Solana Foundation x Serum DeFi Hackathon was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Year In Review 2020

Solana Year in Review 2020Intro 2020 was a difficult and challenging year for many. Despite the global challenges, the entire Solana ecosystem flourished and grew exponentially. Overcoming many exigent tasks, Solana saw its most accomplished year to date. From launching Mainnet Beta, to growing a dedicated global community of over 650k, to onboarding over 350 validators, to partnering with leading projects such as Audius, Circle, Chainlink, Serum, Terra, Akash, and many others, and much more. Solana would not be what it is without the dedicated builders, community members, open-source contributors, and validators. On behalf of the Solana Foundation, thank you for joining us on this exciting journey to scale crypto globally. If you’re just learning about Solana, here are a few resources to get you started. Make sure to join our Discord for direct contact with an engineer, review our detailed documentation for a deep dive into Solana, and make sure to follow us on Twitter for daily updates.Ecosystem Overview Solana has grown substantially over the course of 2020, with projects such as Serum, Chainlink, Terra, Audius, USDC, and USDT all joining the Solana ecosystem. Here are some high-level stats since Mainnet Beta launch earlier in the year:Over 100 project integrations spanning DeFi, Blockchain Gaming, and Web3 verticals350+ active validators distributed across the globe8.3 billion transactions on-chain and countingOver 54 million blocks have been created4.9 million unique SOL wallets600,000+ global advocates and community membersThe Solana Foundation hosted its first hackathon in Q4 and over 1,000 devs participated in the eventKey Integrations Strong partnerships and integrations are critical for the long-term success of any L1 network. The Solana ecosystem prioritized building out a full suite of features in 2020 that enabled over 100 projects to launch on Mainnet Beta. Some notable partnerships include Chainlink, Circle, Audius, Akash, Arweave, Tether, and Terra. For anyone interested in building on Solana, you can view our ecosystem page with direct links to our grants program, documentation, and a form to submit your existing project for representation on the website. For a more general overview, visit our developer page which proves information around the core innovations that make up Solana, FAQs, and more. Some of the most active projects on Solana include Project Serum, Serum Swap AMM, Bonfida, SOL Survivor, Oxygen, and Solanaroll.Developer Update Three years ago, Solana didn’t exist. The Solana protocol founders had an idea for a trustless clock and itched for an excuse to build something in Rust — something big. And so, Proof of History was brought to life: d23fda1. It was tiny. It seemed almost insignificant at the time. But leaders at Qualcomm, Intel, and Apple understood, in distributed systems a reliable clock radically simplifies everything. The Solana Protocol assembled, and day after day, week after week, month after month, rebuilt blockchain from the ground up to ensure it could scale to billions of users and devices around the world. Several key innovations were deployed, including Proof of History which synchronizes nodes every 400ms, where others took minutes. Sealevel parallelizes transaction processing where others processed just one at a time. Turbine keeps the cluster permissionless where others chose to centralize. Cloudbreak scales to millions of accounts where others chose to charge more for memory that was thought to be scarce. This year — the crucible of the Solana network and open source project — brought with it significant advancements and milestones in the engineering realm. The start of 2020 marked the official soft launch of the Solana network, and before the end of Q1 in March, the Mainnet Beta network was officially initialized with the help of the worldwide validator community. Since then, the network has processed over 8 billion transactions, and now has over 300 validators upholding the network across the globe. Solana version 1.1 introduced myriad bug fixes, documentation improvements, and command-line upgrades. Version 1.2 added support for cross-program invocations that allow on-chain programs to issue synchronous processed instructions to other programs, as well as optimistic confirmation. We officially launched our token standard, the Solana Program Library, in version 1.3. In version 1.4, gossip and account operation improvements were welcomed to the cluster, alongside the persistence of `solana-validator`’s voting record. In November, the SPL Feature Proposal Program was released, which provides a workflow for the activation of Solana network features through community vote based on validator stake weight. Testing for this upcoming feature is underway on the testnet and devnet clusters. And in December, the Feature Proposal Program activated pico-inflation on mainnet (0.01%). Full inflation is scheduled to arrive in early 2021! These are just a few critical updates from across the Solana developer ecosystem. We launched new documentation, continued to improve examples/tutorials, and built out comprehensive dev tooling for use in a variety of applications. We have a long way to go to fulfill our mission, but 2020 was certainly a year to celebrate. Here’s to the progress we made this year and cheers to where we’ll head in the next one.Community Update The ambition and strength of the Solana community were on full display in 2020. Despite not being able to gather in person the bonds and motivation continued to grow through online meetups, virtual events, and extensive region-specific AMAs and online gatherings. If you are looking for daily updates, the Solana Twitter is a great place to start, followed by joining the Solana English Telegram group. From the main Telegram group, you can find links to over 10 language-specific groups to meet other Solana enthusiasts in your local area. Collectively, the community is grown to over 600,000 people this year spanning across every continent. As the blockchain space continues to grow, localization is another focus for Solana, ensuring activities and materials are available in every language for any user who wants to learn more about the protocol and test out the apps. If you are interested in getting more involved, you can apply for the Solana Collective.Closing Notes What a crazy year we all had. As we reflect back on the progress Solana has made over the course of 2020, we are optimistic for a prosperous 2021 with continued growth throughout the Solana ecosystem. We expect to see hundreds of new applications launched, improved decentralization of the network, an acceleration of community governance initiatives, and much more. As this mailing list continues to grow, it’s essential that Solana is only bringing the highest quality emails to your inbox. If you have any comments or questions, please respond to this email with your thoughts. We also provide more frequent updates via Blockfolio Signal — only holders of $SOL can receive these special updates. Make sure to follow us on our various social channels below to receive daily updates on what’s going on in the Solana ecosystem. Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio Year In Review 2020 was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Solana Ecosystem News

A look into the growing number of projects building on Solana. This post will be updated on a bi-weekly basis with the latest news. There are now over 120 projects in the Solana ecosystem and counting! To celebrate these milestones, the Solana Foundation will be releasing a bi-weekly ecosystem update highlighting the vast array of projects using the Solana blockchain. Among these projects include unique wallet solutions, decentralized exchanges, lending protocols, staking platforms, digital games, storage solutions, and much more. The Solana ecosystem continues to grow stronger each day and we want to ensure the community gets notified of all the new projects entering the ecosystem, as well as key updates from existing teams. It’s been quite the journey and we are excited to have you with us. For anyone thinking about building on Solana, currently part of the Solana ecosystem, or anyone curious for more information please visit On this page, you can apply for a grant, submit your project to be listed, and browse all builders in the Solana ecosystem. Ecosystem Highlights Volume FourThe SushiSwap community votes to integrate Raydium into the Sushi ecosystemUSDT is now natively supported on SolanaPARISQ integration with Solana is now live on their web portalDeFi Prime Brokerage Protocol and cross-chain decentralized wallet, Oxygen, launches on Solana/Serum.Mango Markets shares their vision to merge the liquidity and usability of CeFi with the permissionless innovation of DeFiCivic announces plans to migrate their identity infrastructure to Solana. The integration will allow for improved privacy, regulatory compliance and ease-of-use as digital identity takes center stage as the cornerstone of the new wave of consumer-first blockchain infrastructureRaydium surpasses 100M in TVL13 billion transactions, 69 million slots, 63 million blocks, and 55 trillion hashes later, the Solana mainnet beta turns one year oldOrca, an AMM aggregator of liquidity pools, launches on Solana. Orca’s innovative DEX user experience displays up-to-date token balances without browser extensions and checks prices against CoinGecko, alerting users of discrepancies before they trade.MXC commits to integrating USDC issued on SolanaStar Atlas releases their first newsletter, The Atlassian, outlining roadmap details going into more depth around the Star Atlas universe.Coin98 Wallet adds native support for USDT on both desktop and mobileAudius breaks 3.5M MAUs and announces plans for NFT integration. The Audius Passport: Accessing NFTs and beyond directly from the Audius platform. Ecosystem Highlights Volume ThreeProject Serum breaks 1 billion in volume since inceptionRaydium launches on Serum/Solana as the first AMM to leverage a fully decentralized central limit order bookMoonlet Wallet adds mobile support for staking $SOLThe Graph announces future support for Solana. The decentralized API feeds provided by The Graph will make it easier for dapps on Solana to act on cross-chain events, and query historic chain data with a high degree of integrates with Solana to help enable developers building on Solana access to’s decentralized cloud services.Hxro chooses Solana to build out a fully decentralized network for simplifies on-chain derivatives. Hxro Networks is building a series of light exotic and vanilla options protocols designed to power simple, low cost, and scalable options trading solutions with the full roadmap going live this weekStar Atlas continues the development of its gaming mechanisms and in-game designsTether mints the first USDT-SPL token on SolanaBRZ, the largest Brazilian stablecoin, incorporates into the Solana network for cheaper and faster transactions. Ecosystem Highlights Volume TwoProject Serum breaks 600M in trading volume since inception.Chainlink distributes grant to Cdot to build high-performance oracles on Solana.Kin migrates over 10 million user accounts to the Solana network.Maps.Me adds wallet integration on Solana/Serum and introduces their MAPS token, bringing their 100M user base to Solana.Solible, the NFT marketplace integrated with Bonfida, pushes a slick UX overhaul.Trust Wallet adds support for USDC-SPL, providing the fastest and cheapest way to transfer USDC.Bonfida continues to add increased functionality. Users can now add and delete token accounts directly from the Balances page.Decentology adds Solana integration allowing developers to accelerate their blockchain development journey with customized, full-stack source code.Solong Wallet launches Solana development tutorial for new builders.Star Atlas announces it will be building on Solana to develop the future of blockchain driven metaverse launches a new, community-driven blockchain explorer.Velas announces plans to leverage the Solana codebase to improve their speed. Ecosystem Highlights Volume OneSOL Survivor launched on Mainnet providing an on-chain street fighter style game on Solana.Oxygen, a DeFi prime brokerage protocol built on Serum was announced.Bonfida and Frontier teamed up to expand the NFT ecosystem on Solana.Solong Wallet outlined its overall goal and vision to become the go-to wallet on Solana.Kin officially started their migration to SolanaThe SOLAR bridge connecting Arweave to Solana is now complete.Trust Wallet announces support for SPL tokensdfuse launches an on-chain SPL Token Registry for SolanaLuna DEX officially launched on SolanaCircle and Visa partner to bring USDC payments to the Visa network You can find the entire list of 100+ Solana Ecosystem projects here. — Follow Solana on the channels below for daily updates!. — Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio Solana Ecosystem News was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Mainnet Beta Stall - Postmortem

On Friday, December 4th at 1:46pm UTC, Solana’s Mainnet Beta network halted new block confirmations, which resulted in a temporary outage. The core developer team and Solana validator community immediately responded and were able to successfully restart the network within 6 hours. This feat required consensus across 393 validators in many different time zones; while the community quickly diagnosed the issue, the majority of the outage time was due to waiting for sufficient stake weight to come back online. To be clear, no funds were at risk as a result of the network halt, and no decentralized exchange trades were at risk due to the reboot. As mentioned before, the Solana network waves a Beta flag to indicate the network is still new.Cause A validator booted up two instances of their machine and it started transmitting multiple different blocks for the same slot, eventually creating 3 different unconfirmed minority partitions of the network. This very specific set of attempted simultaneous block propagations led the network to stall because the partitions could not download different suggested blocks from each other. The stall was due to a known issue in the block propagation/repair path where duplicate blocks for the same slot cannot be repaired between partitions. If a similar partition was created by the same leader, with the same timing, same voting pattern by all the validators, but on two different slots, the network would have eventually repaired the missing blocks across all the partitions and consensus would have been able to move forward. Similarly, if there had been a single corrupted block produced by a leader the network would have successfully recognized it as such and not included it in consensus. To be absolutely clear here: the liveness failure was due to a previously known issue in the block repair and processing code. The specific way that this bug was triggered was due to a previously unknown bug in Turbine and how it propagates these kinds of faults. In general, the Solana consensus algorithm, and the network as it has been functioning, is fully capable of handling missing or corrupted block suggestions by a leader, makes no assumptions about non-faulty leaders, and handles consensus disagreements with up to ⅓ of faulty validators. This is a known Mainnet Beta data availability issue that can cause liveness failures.The Data Availability Bug The internal data structures that track blocks and the computed state for that block use the PoH slot number, which is a u64, as the identifier for the state and block that occupies that slot. This is a legacy and incorrect mapping that existed long before Mainnet Beta was launched and we have been in the process of factoring it out. The validator that transmitted two different blocks was able to successfully propagate the blocks to two different partitions, A and B, while a third partition detected the fault. All 3 partitions were minority partitions, none with enough weight to achieve consensus on their own. Once the three partitions were created, the nodes in different partitions could not repair and download the A, B blocks from each other, since their block intake code had no way to distinguish block A vs block B for the same slot causing every partition that had block A or block B to assume that the other side had the same block. Since the state transitions were different, all forks chained to a block on slot 53180935 were rejected by the other partition.Consensus vs Data Availability Tower, Solana’s consensus algorithm, is tolerant of forks generated by a single leader for the same slot. It’s tolerant of different validators voting on different forks, missing blocks, the arrival of forks in any slot or time ordering and eventually coming to a consistent state as long as fewer than ⅓ of the validators are faulty.The Unexpected Turbine Failure Turbine is a block propagation protocol that has a high probability of success of propagating blocks and faults under a wide range of adversarial network conditions. This is what allowed Mainnet Beta to handle 50 million blocks and 7 billion transactions (recently 20% which are 3rd party application transactions) since March. As far as we know, Solana had handled more consecutive transactions without halting than any other public blockchain. With a high probability, Turbine allows a large portion of the validators to observe at least some duplicate shreds for the same block before it is voted on, allowing the network to drop the faulty block in real-time before voting. Over the course of Mainnet Beta the network has dropped over 3 million blocks due to block producer failures and partitions, including similar ones that caused the halt on December 4th. While Turbine has a high degree of success, it doesn’t provide a guarantee that all faults are propagated before a partition can be created. Tower is designed to handle up to ⅓ faulty validators by stake weight regardless of whether Turbine succeeds or not. This specific failure was due to an optimization in Turbine. Turbine stopped propagating shreds for the same slot and shred index only once from any block per validator. The fix for this specific failure can be tracked here.Recovery Validators stopped generating roots after slot 53180900, and the last optimistically confirmed block was on slot 53180935. 32 blocks between slot 53180900 and 53180935 contained no transfers. The only non-vote transactions in those blocks were Serum “market cranks”, which check if any trades are possible, but are not trades themselves; the outcome of these cranks is deterministic and so would eventually result in exactly the same outcome no matter what. Coincidently the last Serum trade was on slot 53180900. After a discussion the validator community felt comfortable using the battle-tested recovery procedure which uses the rooted slots as the hard fork point and ultimately achieved consensus resuming network propagation as of slot 53180900, losing the optimistically confirmed state transitions up to slot 53180935. Our major partners including Serum were notified prior to the hard fork and had no objections. Had transfers, trades, or any other transactions besides votes and empty cranks been present between slots 53180900 and 53180935, we would have recovered the network with all the optimistically confirmed blocks as well, but chose to avoid taking the unnecessary operational risk.Resolution The resolution is coming in several phases:Fix places in Turbine where fault detection can be done earlier. This is not a complete fix but increases the likelihood of early detection for these kinds of partitions. Already shipped as 1.4 mainnet beta update. the first detected fault through gossip. This is not a complete fix, but since Turbine only transmits data once without retiring, gossip will propagate the faults eventually to all validators.Fix repair, replay, blocktree, and bankforks services to track blocks by hash instead of slot number. This is a complete fix. If any number of blocks for the same slot create partitions, they are treated no differently than partitions with blocks that occupy different slots. Nodes will be able to repair all possible forks and consensus will be able to resolve the partitions. recovery dry runs that include optimistic blocks. Make sure that our validator community has the operational experience of dealing with the new reboot procedure that doesn’t hardfork any of the optimistically confirmed blocks. The first phase has already been released as part of 1.4 upgrade to mainnet-beta. Exchanges and other partners are running as normal. We expect the first patch to rollout within a week, and the subsequent refactoring will take a full release cycle. We’d like to give a HUGE thank you to the 390+ validators who responded quickly on Friday, joined the community discussion, and achieved greater than 80% network consensus to help get the network back up and running as quickly as possible. It is an unfortunate property of distributed consensus algorithms that identifying a bug is not enough to get the network back up, but it is inseparable from the decentralization and censorship-resistance that define public blockchains in the first place.Conclusion We are grateful for the outpouring of support on Twitter and from the global Solana community. The community rallied in a tough situation, and the Solana network is now more resilient than it was before the bug. We launched Mainnet Beta because we have a high degree of confidence in the system’s safety, performance, and consensus algorithm. We knew there was a possibility to uncover bugs that could result in liveness failures. The three partitions, while they existed, were not rooted or optimistically confirmed by Tower, so they did not finalize any transactions. All funds were safe. Mainnet Beta Stall - Postmortem was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Announcing The SOLAR Bridge

Bridging Solana ledger data onto Arweave’s Permanent Network. — Today, Bering Waters, a leading OTC, venture, and technology group based in Hong Kong, announced the “SOLAR Bridge,” a first-of-its-kind bridge linking Solana and Arweave. The bridge is now live and was entirely designed, built, and funded as part of Bering Waters commitment to the Solana and Arweave ecosystems. This bridge is a significant development in Solana’s continued growth, making it the first blockchain to move and store its transaction history on a dedicated storage network. High-performance blockchains like Solana create an immense amount of data due to the increased amount of block production. Censorship resistant availability of the entire ledger history is necessary for allowing network participants to audit the current state. Solana produces blocks every 400 milliseconds, and the network recently passed 50 million cumulative blocks since its inception in March 2020. Currently, Solana can support up to 50,000 transactions per second and is averaging around 80,000,000 transactions per day. This is only the beginning as the network ecosystem continues to grow at lightning speed. To put these numbers in perspective, the Solana blockchain has produced more than two times the number of blocks as Ethereum, Bitcoin, Polkadot, Algorand, and Cosmos blockchains combined. Arweave is a powerful new protocol that runs a decentralized, permanent network to store data permanently, immutably, and reliably. Similar in concept to Proof-of-Work, permanent data storage is made possible by Arweave’s economic model that effectively creates an “endowment” for each piece of stored data, rewarding those who store and recall it the longest. Therefore, paying to store data on Arweave is a one-time transaction — with no recurring costs, fees, or technical maintenance — that stores data forever. It’s important to note that Arweave is not expensive; it’s more costly to store data short-term — this is because when you store data on Arweave, it’s permanent. Ledger transition data and indexing from the Solana network will be entirely stored on Arweave with future development efforts to support richer indexes. While Arweave is in use today as a tool against censorship and a vital component of the Internet Archive, it was initially designed for blockchain data. This is one of the primary reasons why a16z crypto, Multicoin Capital, Coinbase Ventures, and Union Square Ventures all invested in the project. While Solana is the first network to deploy a bridge to Arweave, other prominent projects have decided to follow this approach. Inspiration for this storage approach dates back to July 2019 when Vitalik first suggested using bitcoin cash’s blockchain as a “data availability layer.”“Many highly scalable blockchain solutions require large amounts of data to be stored for indefinite periods of time. Arweave is a perfect solution to this problem. We have been very excited to see the recent rapid adoption of Arweave to solve these problems for Solana,” said Sam Williams, Arweave, Co-Founder. Bering Waters Tech validated the bridge using a rigorous set of benchmarks, including historical and synthetic data sets, to stress test the technology in both standard and extreme scenarios while maintaining cost and efficiency thresholds.“One of the challenges with building a high-performance smart contract platform is ensuring that the ledger data has a highly fault-tolerant, decentralized storage solution,” said Anatoly Yakovenko, Co-Founder, Solana. “I believe in a multi-chain future where chains can and should specialize and interoperate. It doesn’t make sense to build a dedicated storage network and force that burden on validators when a perfectly amazing solution already exists and is more economically rational than anything we could build.” In the short term, Arweave will be funded by a grant with the long term goal of paying for Arweave with payout rewards for light client proofs of storage of Solana blocks. With the integration of Arweave, Solana will no longer be pursuing replicators as a means for storage. Arweave is a better alternative because Solana does not have to worry about it. This allows the Solana team to focus on what they are great at, high-performance replicated state machines, and Arweave can focus on decentralized storage solutions. Solana, Arweave, and Bering Waters are all committed to making stored data public, available, and queryable, now and forever. — Follow Solana on the channels below for daily updates!. — Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio Announcing The SOLAR Bridge was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Solana Network Update — Live Updates

Solana Network Update — Live UpdatesSolana network outage on December 4th, 2020 At approximately 1:46pm UTC on December 4th, 2020, the Solana Mainnet Beta cluster stopped producing blocks at slot 53,180,900, which prevented any new transactions from being confirmed. The Solana team is actively working with the validator community to restart the network. No funds are at risk, and the team’s primary focus is performing a smooth restart of the network. As information unfolds, we will continue to provide updates in this post, on Discord, and on our social platforms.UPDATE: As of 9:30pm UTC 12/7/20, Solana Engineers have identified the issue and are working on a post-mortem. Again, no funds are at risk and the network is functioning normally. Once the issue is fully patched and validators update to the fix, a comprehensive post-mortem will be published. While we work on the fix, we would like to thank the passionate and diligent global network of validators who identified this issue and coordinated to restart the network.Live Updates 1:46pm UTC: The Mainnet Beta network halted new block confirmation. Validators began to work with the team in Discord to identify the issue. 2:02pm UTC: DevOps began their investigation into the root cause of the issue. 2:18pm UTC: The validator community began collecting logs in GitHub to assist with the diagnosis. 2:45pm UTC: Initial cluster restart plans were assembled. 4:22pm UTC: The engineering team began testing the network restart instructions. 4:50pm UTC: Network restart instructions were circulated to the validator community; the cluster restart began. 5:56pm UTC: 58% of active stake is prepared to restart. 6:19pm UTC: 63% of active stake is prepared to restart. 6:41pm UTC: 67% of active stake is prepared to restart. 7:14pm UTC: 73% of active stake is prepared to restart. 7:22pm UTC: 77% of active stake is prepared to restart. 80% is needed for the network to resume. 7:32pm UTC: 80% reached. The network has restarted and blocks are once again being produced. 7:46pm UTC: Network activity on has resumed. is expected to resume functioning shortly. Solana Network Update — Live Updates was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Announcing the Winners of Solana’s Inaugural Hackathon

With over 1,000 registrations & 60+ project submissions from builders globally!. — To accelerate the already rapid growth of the ecosystem, the Solana Foundation hosted its first online hackathon, bringing industry leaders and builders from around the world together for two weeks of hacking on Solana. Even though the event revolved around Wormhole, a new bi-directional bridge with Ethereum, participants were encouraged to build any project that could impact the ecosystem. Over 1,000 builders registered for the Solana Wormhole hackathon, with 60+ final project submissions spanning DeFi, Web3, NFT gaming, and core infrastructure. Thank you to all who joined and created impactful products for the Solana ecosystem! We’d also like to thank our all-star lineup of judges and speakers who participated in live panels throughout the hackathon. Take a look at all the project submissions in the public directory at Beyond engaging with talented teams worldwide, the hackathon allowed the Solana Foundation to improve essential documentation, tooling, and other educational resources to better serve developers integrating with Solana. If you signed up for the hackathon, it would be very much appreciated if you could fill out this brief survey to give additional feedback on how to improve Solana’s developer experience. The quality and diversity of projects were impressive. However, there were 14 submissions that stood out from the rest. The projects were judged based on the following five categories: Functionality, potential impact, novelty, design, and extensibility. So, without further ado, here are the winners of the Solana Wormhole Hackathon…First Place Winners The four first-place winners will each receive $30,000 in USDC-SPL tokens. Jabber Jabber is a p2p messaging platform built on Solana. The app allows users to send end-to-end encrypted messages to any valid Solana address. The app converts signing keys to Curve25519 to encrypt messages. The Jabber team leveraged Solana’s high-throughput to put most of the functionality all on-chain.Follow Jabber on TwitterVist the Jabber WebsiteJabber’s GitHub RepositoryTry the app here Solana Fantasy Sports Solana Fantasy Sports is a fully on-chain app where users can start a league by setting an entry-amount in SOL. Friends join by paying an entry fee and then choose players in the initial draft. Users can swap players during the game, and scores are published weekly by owner wallets fetched from an API. The highest scorer in each league gets to withdraw the entry-amount collected.Follow Solana Fantasy Sports on TwitterFantasy Sports’ GitHub RepositoryTry the app here — Solana Structured Products. — Structured products in traditional finance are simply a combination of two or more financial instruments that comprise a single product that pays out based on the underlying assets’ performance. The Structured Products team built a system that allows users to match and lock single deposits with the shared goal of executing a particular trading strategy, coupled with position management bots that read and respond to Serum DEX’s market data.Follow Structured Products on TwitterStructured Product’s GitHub Repository StableSwap StableSwap brings Curve to Solana! The team modified Solana’s Solana token-swap program by implementing Curve’s StableSwap invariant. The live app allows users to trade highly-correlated SPL tokens in a familiar swap interface.Follow StableSwap on TwitterStableSwap’s GitHub RepositorySecond Place Winners The 5-second place winners will each receive $10,000 in USDC-SPL tokens. SolGSN SolGSN is a gas station implementation for Solana. The platform allows users to do fee-less transactions, where the dApp creator pays fees on behalf of the user. This gives dApp creators more flexibility to provide a more seamless user experience. Also, the dApp and user can add or withdraw credits at any time.Follow SolGSN on TwitterSolGSN’s GitHub RepositoryView the team’s deck here IdentitySwap IdentitySwap is an Automatic Money Market (AMM) dApp that demonstrates the concept of decentralized identity on the Solana SPL Token-Swap program. The program connects with Civic’s identity verification system.Follow IdentitySwap on TwitterIdentitySwap’s GitHub Repository SoproX SoproX is a tool that helps developers to conveniently create a Solana Rust-based program (SRP) with no build configuration. To simplify Solana’s program development, the team created a solution for developers to immediately bootstrap their programs. There are several built-in templates with many levels of readability in SoproX, including a Hello World instance for new developers to learn Solana.Follow SoproX on TwitterSoproX’s GitHub RepositoryTry it out here P2P Wallet Bundle The P2P Org team built a bundle of open-source Solana wallet implementations, written for iOS, Android, and a web browser version. The team leveraged Solana, Serum, and Bonfida infrastructure.Follow P2P Wallet on TwitterP2P Wallet’s GitHub RepositoryTry out the wallet here Solong Solong is a slick new extension browser that allows users to interact with any application on Solana or in the Serum ecosystem. It also included the ability to mint new SPL tokens directly within the UI.Try out the wallet here Place Winners The fivethird-place winners will each receive $5,000 in USDC-SPL tokens. SOL Survivor SOL Survivor is a messaging app and Mortal Kombat style fighting game on the Solana testnet. The premise is simple, both users submit a hash of 4 choices: attack/block/counter/taunt. After both users have submitted their hashes they can reveal (“unleash”) their choice. Once the first player has revealed their action the second player will have 10 seconds to reveal their choice as well.SOL Surivor’s GitHub RepositoryTry out the game here SquiFi Squifi is a generalized crowdfunding platform built on Solana. Squifi aims to increase a groups’ purchasing power by pooling passive income from individuals. Pool contributors are granted SPL pool share tokens for ownership.SquiFi’s GitHub RepositoryRead the submission here Moebius Moebius is a cross-chain oracle that bridges on-chain Ethereum data to Solana. As a use-case of Moebius, the team built Moebius-Uniswap that bridges Uniswap time-weighted average prices to Solana, allowing Solana-based apps to access Uniswap prices.Follow Moebius on TwitterMoebius’ GitHub Repository Solanaroll Solanaroll is a fast, inexpensive dice game with a user-funded pooled treasury. The dice game is provably fair and has a 1% house edge.Follow Solanaroll on TwitterSolanaroll’s GitHub RepositoryTry the game here Nebula Wallet Nebula is a wallet and name service for Solana accounts and tokens. The wallet includes basic functionalities like sending Sol/Tokens, creating your own SPL tokens, and minting/freezing token contracts. Tokens can also be registered in a name service by the minter of the token.Follow Nebula on TwitterNebula Wallet’s GitHub RepositoryTry the wallet here Congratulations again to all the hackers and winners! If you are interested in continuing to develop on Solana, the Foundation is always looking for talented teams to fund through the Grants Program. There are several future hackathons already planned through 2021, so sign up for the newsletter, follow Solana on Twitter, and stay tuned for upcoming announcements! Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio Solana Foundation grants are given without consideration of legal viability for the proposed project or endeavor. The Solana Foundation does not encourage, induce or sanction the use of any software application in violation of applicable laws and regulations by offering grants to companies, projects, or individuals, and does not endorse any project or product created by a grant recipient. All grant recipients must comply with applicable laws and regulations when releasing any software that they develop while using proceeds from their Solana Foundation grants or in relation thereof. Announcing the Winners of Solana’s Inaugural Hackathon was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Solana Foundation Grants — Wave One

Solana Foundation Grants — Wave One Solana’s ecosystem has been expanding rapidly since the mainnet beta launch earlier this year. To accelerate the growth of the ecosystem, the Solana Foundation has started awarding grants to promising teams building projects ranging from protocol infrastructure to end-user applications. Today, the Solana Foundation is excited to announce the first wave of recipients into the Grants Program! Each of the 12 projects below brings a talented team and a strong vision to the Solana ecosystem. The Foundation is looking forward to working collaboratively with these teams and expanding the program through the end of the year and into 2021. If you’re building in the crypto space and are in need of funding, please reach out at Oracles — Chainlink Integration by C.Dot C.Dot was awarded this grant to integrate Chainlink oracles into Solana to enable a high-performance oracle that could provide on-chain price updates leveraging Solana’s sub-second block times and low transaction fees for an economically stable oracle solution. Bridges — Terra/Ethereum/Solana PoA Bridge by Everstake Everstake is an infrastructure providing core PoS staking services and is building out a Tendermint/Solana/ETH bridge. Bridges — Arweave and Solana Ledger Storage Bridge by Bering Waters Bering Waters is one of the leading OTC desks and has partnered with Ubik Group to deliver a ledger data storage bridge between Arweave and Solana. Arweave is an open protocol that enables files to be stored permanently across a distributed network of hardware devices. Bridges — Ethereum and Solana Bi-Directional Bridge by Certus One The Certus One team was awarded a grant to build out the Wormhole bridge, a PoA bridge which bi-directionally connects Ethereum with Solana. The bridge is now being audited and will be live soon. Wormhole — Solana/Ethereum Bridge Maskbook Maskbook is a browser extension and app that gives users the ability to encrypt social media content and then share that content exclusively with friends or anyone else allowed to decrypt the content. There is currently an open grant available with Maskbook — you can apply for it here. Wallets — SOL and SPL support by Math Wallet Math Wallet is a cross-platform SOL wallet that enables users to securely send, receive, and store tokens. Bridges — Light Client Bridge Support on Solana by Obsidian Systems Obsidian Systems has been tasked to create light-client bridges between Solana and other leading layer 1 blockchains. Bridges — Cross-Chain Liquidity Bridge by REN Ren is an open protocol that enables the permissionless transfer of value between blockchains. Including assets such as BTC, ZEC, etc. As part of their efforts in integrating Solana as one of the chains supported they’ve been awarded a grant by the Foundation. Efforts in implementing the bridge have been progressing well and will be live soon. Wallets — Infrastructure by WalletConnect WalletConnect is an open-source protocol for connecting decentralized applications to mobile wallets with QR codes or deep linking. It’s been a critical piece of infrastructure enabling a vast majority of users to easily access the community’s favorite Ethereum applications. With Wallet Connect v2, the team is looking to expand across multiple chains, and have been awarded a grant to provide support for Solana. Monitoring — Validator Monitoring Tool by Validators.App A dashboard for monitoring Solana validators and measuring the relative performance of the network. Ensuring that this information is publicly accessible and displayed in a way that can be digested by anyone within the community will be a valuable way for delegators to conduct validator discovery, provide deeper introspection into specific validator performance according to various metrics and help monitor network decentralization. AMM — An AMM implementation and GUI by Orca Orca was awarded a grant to develop an AMM implementation on Solana and GUI, including support for every major Solana-based web wallet. Infrastructure — Cybercore Cybercore was awarded a grant to implement a Metamask proxy integration into Solana and a port of Sputnik VM into Solana. Apply Now If you are interested in getting your crypto project off the ground, apply to the Solana Grants Program. To be accepted into the program, you’ll need to provide a detailed proposal describing your project idea, background on yourself/your team, technical design, and explain how your team can execute that plan. Reach out if you have any questions or have ideas you’d like to discuss! Make sure to follow us on our various social channels below to receive daily updates on what’s going on in the Solana ecosystem. We also provide frequent updates via Blockfolio Signal, so add $SOL to your Portfolio if you’re interested in receiving direct updates. Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio * Solana Foundation grants are given without consideration of legal viability for the proposed project or endeavor. The Solana Foundation does not encourage, induce or sanction the use of any software application in violation of applicable laws and regulations by offering grants to companies, projects, or individuals, and does not endorse any project or product created by a grant recipient. All grant recipients must comply with applicable laws and regulations when releasing any software that they develop while using proceeds from their Solana Foundation grants or in relation thereof. Solana Foundation Grants — Wave One was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

Announcing the Solana Foundation Delegation Strategy

Allocating 100 million SOL toward censorship resistance. — This is the first post in a three-part blog series on initiatives the Solana Foundation is undertaking to enhance the network’s censorship resistance over the coming months. This post announces the Foundation’s new stake delegation strategy, while the following two posts will cover the launch of inflation and staking pools, respectively. For additional questions please join the Solana Discord. — Overview. — The Solana Foundation is committed to growing the Solana network to become the most decentralized and censorship-resistant blockchain in the world. The Foundation continues to spend a significant amount of resources innovating on how to meet these goals today and over the long-term. In accordance with its charter, the Foundation is committing to delegate 100,000,000 SOL (over 80% of the Foundation’s treasury) through an auto-delegation strategy that targets the following goals:Improve the network’s censorship resistance and security by incentivizing an even stake distribution to avoid a small number of nodes accumulating a large majority of delegationsEncourage growth in the number of validators by providing a baseline delegation, the size of which is inversely related to the size of the number of nodes on the network, to lower-staked nodes to help make running a well-performing validator a financially feasible operation for new entrants to the network. To these ends, the Foundation will deploy an autonomous script that dynamically and uniformly divides and delegates a pool of 100,000,000 SOL in such a way to maximize the minimum number of unique nodes that constitute 33% of the global stake. Full details of the delegation strategy are provided below. The Solana Foundation plans to implement this delegation strategy on the Tour de SOL testnet during the week of November 16th and Mainnet Beta on or around 1 December 2020. Successful deployment and stake balancing are among the prerequisites for enabling inflation on Mainnet Beta, which is targeted for activation later in December 2020. Nodes must meet specific eligibility criteria before receiving any delegation from the Foundation. Nodes that fail to maintain certain performance metrics will have the Foundation delegation removed until they have met the initial delegation requirements again. Details on the eligibility criteria outlined below. The Foundation will regularly re-balance its distribution of delegations to account for a changing number of nodes on the network as well as any changes in non-Foundation stake delegations across the network. Details on the re-balance timing can be found below. The Foundation will also automatically re-delegate all staking yields that are accumulated from the distributed stake. Thus the increase in circulating supply as a result of this delegation strategy will be limited only to the validator commissions, which are capped at 10% for eligibility. More info on the impact on circulating supply and commission eligibility requirements are provided below. The delegation strategy described here may change depending on various factors. This post covers the overall design and objectives while noting that there may be modifications to the strategy before implementation. — Delegation Strategy Technical Details. — This section describes the steps the Foundation will take, through its auto-delegation bot, to determine how to distribute its stake delegations in accordance with its delegation strategy. Defining the maximal security group A “security group” is defined here as the smallest group of unique nodes that comprises ≥ 33% of the total stake on the network. Equivalently, this group represents the minimum number of nodes that would need to be compromised in order to censor or generally compromise the overall security of the network. The Foundation delegation strategy provides delegations to eligible validator nodes that fall outside the security group. The maximal security group is defined as the largest security group that can be created, given the strategic delegation of the Foundation’s tokens across eligible nodes on the network outside this group. The algorithm to identify this group is as follows:Calculate 33% of the total amount of stake on the network, including the tokens that are to be delegated by the Foundation.Identify the minimum set of validator nodes of which cumulative, non-Foundation stake is greater than or equal to this amount. This is the network’s current maximal security group. Delegate tokens to eligible nodes outside the maximal security group Once the network’s maximal security group is identified, the Foundation’s total token pool (initially 100,000,000 SOL) is then divided into equal portions based on the number of eligible nodes outside of this group. Additionally, the Foundation will not delegate so many tokens to any one node such that its cumulative total stake (Foundation + non-Foundation) exceeds the total stake of any node in the security group which does not receive a Foundation delegation. In this case, a node or nodes would receive a delegation from the Foundation such that their resulting total stake matches the stake of the lowest-staked node in the security group. Any tokens that are left over from these reduced delegations are then spread evenly over all remaining nodes along with the full-size Foundation delegation. This results in a diminishing Foundation delegation a single node receives as its total delegations approach or exceed the amount needed to enter the security group without changing the total stake-rank ordering of the network’s nodes. This scenario is presented as Example #2 below. Example #1 Consider a hypothetical network with 10M non-Foundation tokens staked across 40 validators, along with an equally hypothetical Foundation that has 5M tokens that it can delegate at will. Let’s suppose a skewed initial stake distribution (prior to the Foundation’s delegation) that looks like: In this example, we see a pre-Foundation delegation “security group” composed of two nodes (shown in blue). I.e. an attacker would only need to take control of these two nodes to be able to halt the entire network. As described above, the first step in applying the proposed delegation strategy, is to calculate the network’s maximal security group taking into account the Foundation’s holdings in addition to the non-Foundation owned stake. In this example, the Foundation holds 5M tokens so the total amount of stake on the network will be 15M tokens (10M tokens in non-Foundation stake, and 5M to be delegated from the Foundation). Therefore the maximal security group will be the minimum number of validators that comprise >= 5M tokens (i.e. 33% of 15M) of non-Foundation stake. This group is identified here: In this case, the top 4 validator’s non-Foundation stake sums up to > 5M tokens (33% of total stake) and is thus the maximal security group. Therefore, to ensure this maximal security group, the Foundation should divide up it’s delegatible token reserve across the non-maximal security group nodes with equally sized delegations. In this example, there are 36 eligible nodes outside of the maximal security group, so each receives a delegation of 138,889 tokens (5,000,000 tokens / 36 nodes): With the equal distribution of the Foundation’s tokens across the non-security group nodes, the network’s security group has been doubled from two to four nodes. Additionally, new and lesser staked nodes have received stake from which they can help add security to the network through decentralization. Through the strategic deployment of Foundation tokens, the censorship resistance of the overall network has been improved and validation opportunities have been presented to nodes with less stake on the network. Example #2 The algorithm used to divide up the total Foundation delegation pool and deliver the equal delegations to the non-security nodes maintains a requirement that the total stake rank-ordering of the nodes after the delegations must be the same as the rank-ordering based on non-Foundation stake. However, this requirement may not be initially satisfied at the border between the security group nodes and the non-security group nodes. As an example of this scenario, the delegation from the Foundation, as initially calculated as an equal portion of the total Foundation stake across all non-security group nodes, would lead to the highest-staked node outside of the security group, who receives this delegation, having a total stake greater than the least staked node inside of the security group, which doesn’t receive a delegation. A graphical representation of this situation is shown here: In this hypothetical scenario, the Foundation delegations delivered to nodes 10, 11 and 12, has changed the total stake rank-ordering of the validator set, which violates the constraint specified by the strategy. Instead, the delivery algorithm will take the following steps:Reduce the delegation to node 10, until the stake on node 10 is equal to the stake on node 9.Re-calculate the per-node Foundation delegation after adding the amount of the Foundation delegation that was ‘removed’ from node 10 to the entire pool.Consider re-distributing the newly calculated per-node Foundation stakes to nodes with non-Foundation stake < node 10 (i.e. nodes 11+)If the total potential delegation on node 11 is now greater than node 10, restart this process by reducing the delegation on node 11 and re-calculating the per-node stake to distribute across downstream nodes (i.e. back to step 1) By applying this delegation delivery algorithm to the example situation presented above, the final delegation distribution would look like: After this reduction process, in this example, the amount of delegation for nodes 13+ has increased proportionally by the amount that was removed from nodes 10, 11 and 12 in order to satisfy the design constraints without reducing the overall amount of delegations distributed. Diminishing the Foundation delegation near the security group boundary should avoid scenarios that introduce economic attack vectors and edge-case incentives that might not align with the overarching goals of the strategy. Rebalancing period The Foundation delegations will be re-assessed and re-balanced every 4 epochs (approximately every 8 days) according to the process described below. No delegations will be added except at the re-balance intervals, though delegations can be deactivated at any time if a node fails to remain eligible for delegation. At the time of a re-balance, all non-Foundation delegations will be tallied, and adjusted delegations will be computed. The rebalance interval of 4 epochs means that there will be some amount of lag between a change in non-Foundation stake and an updated Foundation delegation spread. Given the amount of stake the Foundation may move in a single rebalance, it may take more than 1 epoch to warm up or cool down, based on Solana’s protocol limit that no more than 25% of total network stake delegation may be added or removed in a single epoch. By leaving an interval between re-balancing, this gives time for the Foundation’s stake changes to take effect, as well as reduce the risk of bottlenecking other users of the network who wish to delegate their stake. This is designed to be a long-term delegation strategy, to incentivize staking behavior over many months or years, so passing over smaller per-epoch fluctuations by non-Foundation delegators is acceptable. Considerations The proposed delegation strategy is designed to create incentives to enhance network security and to grow the network. Network security is increased by the Foundation delegating its tokens in a way to maximize the minimum number of nodes comprising > 33% of the total stake. Network growth is encouraged by offering a path for new validators to obtain a delegation from the Foundation from which to seed their validation services. Because the Foundation pool is equally distributed across all non-security group nodes, the amount of each Foundation delegation is inversely proportional to the number of non-security group nodes that qualify to receive the delegation. In this way, we expect the network to grow with new validators to the extent that the revenue from the resultant Foundation delegation is worth the cost and effort of supporting a validator that meets the requirements of the delegation. Additionally, nodes in the security group should be continuously evaluating whether it is economically beneficial, to the extent possible, to split their delegations across multiple nodes. By doing so, potentially creating nodes outside the security group, gaining Foundation delegations and with those, additional revenue. Foundation delegations will receive staking yield the same as other staked tokens. However, the yields distributed to Foundation delegations, minus the commissions set by the validators, are immediately added to the total pool of Foundation tokens used for this strategy. I.e. The interest earned from the Foundation’s staked tokens will be re-delegated, in accordance with the strategy outlined above, across the network. This provides an increasing delegation pool to continually incentivize the security and growth of the network. Additionally, as a result of this re-delegation of Foundation staking yields, the impact on the total circulating supply, as defined by the number of tokens that are currently unlocked and in accounts outside of the control of the Solana Foundation or Solana Labs, is minimized to only the tokens earned by the validators that receive Foundation delegations via their commission rates. We can estimate what the monthly increase to the circulating supply might be for the first year after inflation is enabled, with some assumptions around the average validator commission rate, the percent of the total supply that is staked, and the initial global inflation rate. First, we take a maximal assumption of an average of 10% commission set by validators that receive Foundation grants (note the max commission to be eligible is 10%). Additionally, for simplicity, we estimate that the average fraction of the total stake on the network over the first year is 65% and that the inflation rate over the first year is 7.5% (using the average range of potential inflation parameters explored here). With these assumptions, we’d expect an average first-year staking yield of around 11.5%. Given the commitment to delegate 100M tokens, and ignoring the compound interest across that first year for simplicity, we’d expect the Foundation delegations to yield ~11.5M tokens. From our upper estimate of 10% average commission for validators that receive a Foundation delegation, we’d then expect ≤ 10% (≤ 1.15M) of these 11.5M tokens to enter the circulating supply over the year, while ≥ 90% (≥ 10.5M tokens) to be automatically re-introduced into the delegation program and retained as delegated stake accounts. This suggests an upper limit on the increase to circulating supply as a consequence of this delegation strategy of no more than ~100,000 tokens per month. — Eligibility Requirements. — Please note the Solana network always has been and always will be permissionless. Anyone can operate a validator and earn rewards from delegations at any time, without needing the consent of the Solana Foundation. However, in order to receive a delegation directly from the Foundation and be eligible for the program described in this document, all of the following criteria must be met. Prerequisites The following must be met before the Solana Foundation will include a validator node on Mainnet Beta in its delegation distribution strategy.Node operators must pass KYCNode operators must agree to and sign our Participation Agreement.Node operators must participate in at least one full stage (approximately one month in duration) of the Tour de SOL incentivized testnet program. After successfully participating in Tour de SOL, validators will be eligible to participate in the delegation program on Solana’s Mainnet Beta network.A validator who is eligible for Foundation delegation on Mainnet Beta may choose to migrate their Tour de SOL node from testnet to Mainnet Beta, or they may choose to continue to participate in Tour de SOL and earn the corresponding compensation, and start up a second node dedicated to Mainnet Beta. Technical Requirements The following technical metrics must be maintained by a node in order to remain eligible for a Foundation delegation. New nodes participating in the program must consistently maintain these criteria for the duration of a Delegation Exclusion Period (defined below) before they will receive their initial Foundation delegation. Note that these technical requirements are intended to change over time as the performance of the network becomes better understood.Vote on >90% on all valid blocks during the sampling window.A block is considered valid if it has received maximum (32) confirmations by the cluster, or is an ancestor of a block that has.Retain a delinquency rate <10% over the course of a 48-hour moving average time window.A node is considered delinquent if its root slot is more than 256 slots behind the network supermajority’s root slot. Delinquency status will be polled hourly. If a node is sampled as delinquent in more than 10% of the previous 48 hours’ checks, it is considered to have failed this requirement.Propose blocks in >90% of scheduled leader slotsValidators who have not yet received any delegation and are not included in the current epoch’s leader schedule are exempt from this criteria. Once a Foundation delegation is received and the node enters the leader (block producer) schedule, this requirement will be enforced.Retain a commission rate ≤ 10% If a validator fails any of the above criteria, its Foundation delegation is deactivated in the current epoch and the node enters a Delegation Exclusion period. Delegation Exclusion Period Nodes new to the program, and those that have failed to maintain the delegation criteria are ineligible for a Foundation delegation for a minimum of two rebalancing periods, defined as the Delegation Exclusion Period. Throughout this period, the nodes’ performance will continue to be monitored along with all delegated nodes. The delegation criteria must be maintained for the full Delegation Exclusion Period and then the node will receive a Foundation delegation at the next rebalancing period. If a node fails to maintain the requirements during the exclusion period, the Delegation Exclusion Period timing starts over. — Migrating from the Foundation’s current stake distribution. — Most validators who have been participating in Mainnet Beta thus far have received up to 550,000 SOL delegation from the Foundation. Up until now, this value has been somewhat arbitrary. To prepare for the new distribution strategy, the current script used to automatically delegate Foundation stake will be modified to delegate no more than 270,000 SOL to any single node, and new delegations up to 270,000 SOL will be made to validators who have recently joined Mainnet Beta. This will provide a very rough approximation of the results of the first re-balancing of the new strategy once it is implemented. By migrating stake in bulk now over several epochs, we will avoid a major single-epoch stake movement when the new strategy program is started. Validators who are already staked on Mainnet Beta will not by default be subject to the Delegation Exclusion period, to avoid everyone on the network being stripped of their delegations at once. If a validator fails to meet the technical criteria when the new program is enabled, they will be subject to the Delegation Exclusion period. — Changes to current Mainnet Beta compensation plan. — Validators participating in Mainnet Beta have thus far earned monthly compensation directly from the Solana Foundation for their services. This compensation program is expected to end prior to the enablement of inflation on Mainnet Beta. A final announcement will be made by the Solana Foundation via Discord and Solana forums to terminate those existing contracts. The financial incentive for validators will be from protocol-driven inflationary rewards. The compensation plan for participating in Tour de SOL incentivized testnet program will not change with the activation of inflation on Mainnet Beta. For additional questions please join the Solana Discord. Make sure to follow us on our various social channels below to receive daily updates on what’s going on in the Solana ecosystem. We also provide frequent updates via Blockfolio Signal, so add $SOL to your Portfolio if you’re interested in receiving direct updates. Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio Announcing the Solana Foundation Delegation Strategy was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.

October Newsletter

👽 Wormhole Bridge released connecting Ethereum with Solana 🎧 Audius Brings Decentralized Music to Solana 💲 USDC-SPL is live with $25M already in circulation on Solana 🛠 Wormhole Hackathon Commences with 1,000+ builders participating 🖼 NFT Marketplace Launched on Serum 🎙 Wormhole Events with Compound, Aave, Curve, Balancer, and moreWormhole — Solana/Ethereum Bridge In partnership with Certus One, Solana announced Wormhole, the first of many bi-directional cross-chain bridges on Solana. Wormhole connects Ethereum to enable ERC-20 tokens to be converted into SPL Tokens, the token standard of the Solana blockchain. Wormhole grants existing projects, platforms, and communities the ability to seamlessly move tokenized assets across blockchains to benefit from Solana’s high speed and low cost.Learn MoreAudius Joins The Solana Ecosystem Audius is the latest project to announce their move to Solana. Audius is one of the most popular apps in the crypto space, and the Solana Foundation is excited to welcome them to the ecosystem and support their mission in providing a music streaming platform that puts the power back into the hands of content creators. As Audius has grown, now with over 1 million monthly listeners, so has the gas fees and load times for users. To continue growing, the Audius team specced and built proofs of concept with over 20 layer 1 and layer 2 scaling solutions. After much research and testing, Audius selected Solana to scale to a mainstream, global audience.Read MoreUSDC is now Live on Solana USDC is officially integrated natively on Solana! The Solana tokenized version of USDC is known as USDC-SPL. $25M USDC-SPL has already been issued in just the first week, and there are already several Solana ecosystem projects that have incorporated USDC-SPL, including Serum and across several wallets like Coin98 and Sollet. With a DeFi ecosystem emerging on Solana, USDC-SPL offers users and projects a transparent and stable form of collateral.Read The AnnouncementWormhole Hackathon In celebration of the Wormhole announcement, the Solana Foundation invited developers worldwide to participate in the Solana Wormhole Hackathon that started on October 28th! It will be exciting to see what teams build on Solana over the next 2 weeks. Over 1,000 individual builders from around the world are now creating Solana-based projects that will be judged by industry leaders from Compound, Gauntlet, Curve, FTX, Audius, Aave, and more. There is also a stacked schedule of presentations and open office hours. See the full schedule here and stay tuned on our social channels for event updates.Visit Wormhole Hackathon PageNFT Marketplace Launched On Solana On October 22nd, the team at Bonfida launched Solible, the first NFT marketplace built on Project Serum and Solana. Soluble is an easy-to-use NFT marketplace that takes advantage of the cheap fees and fast latency Solana is known for. New NFT’s are being added daily, and more development is expected in the near future. The Bitcoin Association of Hong Kong recently listed the first redeemable NFT, Bitcoin Tram. The purchase of Bitcoin Tram gets you a physical Bitcoin Tram model mailed to the mailing address of your choice. Check Out SolibleWormhole Events During the registration period and into the initial days of hacking, Solana hosted over a dozen events to bring together industry leaders to discuss the hottest topics in crypto. Each event focused on a different subject to inspire a range of hackathon project ideas to be built during the hackathon. Some of the stand-out events include a DeFi Recap, a discussion on the recent decentralized finance boom, a fireside chat with Stani Kulochev (Founder of Aave), and a fireside chat with Robert Leshner, the Founder of Compound. If you missed any of the events, you can find the recordings on the Solana YouTube channel.Watch The EventsEngineering Update The engineering team had another productive month as development work continued on the v1.3 branch and marched forward with the v1.4 release. ✨ The HighlightsSay Hello, v1.4: Development work commenced on the upcoming 1.4 software update this month. Current priorities include developing the solana-program-test framework, continuing to improve gossip mechanisms, and speeding up the solana deploy subsequence while improving error handling. A network upgrade to 1.4 is expected in the near future; relevant information will be posted on all social channels.Transaction Logging Improvement: Version 1.3.18 improves transaction program logs, including logging pubkeys as base58 strings, exposing error constants, and surfacing logs in the Solana CLI.Successful Upgrade to v1.3: The Validator network successfully upgraded the Mainnet Beta cluster to the 1.3 software line in early October. More information related to the upgrade can be found on this Forum post.Base58 Support: As of v1.3.16, base58 encoded transaction data for sendTransaction and simulateTransaction RPC endpoints are DEPRECATED. Please update all applications to use base64! Take a look at our introductory issues in GitHub, peruse our current pull requests, and get in touch with the engineering team on Discord.Ecosystem Update The Solana Foundation is by no means endorsing these products, use at your own risk. Access is not available to U.S. persons and persons must consider applicable laws in their jurisdiction. Cool things going on in the Solana Ecosystem:Serum hits 100M total volumeUSDC-SPL launchedFrontier mint’s NFT on SolanaChainlink starts building Oracle for SerumAudius hosts launch party with RAC and Deadmau5Waves integrates Solana into Gravity Protocol October was another exhilarating month for the Solana community. Audius joined the Solana ecosystem, over $25M USDC-SPL is now in circulation, and the Wormhole hackathon has attracted over 1,000 participants from around the world. As this mailing list continues to grow, it’s essential that Solana is only bringing the highest quality emails to your inbox. If you have any comments or questions, please respond to this email with your thoughts. Make sure to follow us on our various social channels below to receive daily updates on what’s going on in the Solana ecosystem. We also provide frequent updates via Blockfolio Signal, so add $SOL to your Portfolio if you’re interested in receiving direct updates. Twitter | Telegram | Reddit | Youtube | Medium | VK | Weibo | Blockfolio October Newsletter was originally published in Solana on Medium, where people are continuing the conversation by highlighting and responding to this story.


Biggest Movers: SOL Moves Towards $35.00, XMR Extends Recent Gains

    Solana rose for a second straight day on Thursday, as the token moved closer to its long-term resistance point of $35.00. Monero was also in the green during today's session, extending recent gains in the process. Overall, markets attempted to rebound, following a red wave which swept through markets to start the week.Solana (SOL) Solana (SOL) was mostly higher during Thursday's session, as the token moved towards a key resistance level. Following a low of $32.79 on Wednesday, SOL/USD rose to an intraday high of $33.92 earlier in the day. The move saw solana move closer to its ceiling of $35.00, which has mostly held firm for the past fortnight. As can be seen from the chart, today's climb led to the 10-day (red) moving average nearing a crossover with its 25-day (blue) counterpart. Despite the prospect of this occurring, prices may remain lower up until the 14-day relative strength index (RSI) breakout out of an upcoming ceiling of its own. The index, which is currently tracking at 49.22 is nearing a resistance mark of 51.00, which will likely be a major hurdle in preventing SOL from further gains. Monero (XMR) Another notable mover in today's session was monero (XMR), which also moved higher for a second consecutive day. Despite current market volatility, XMR/USD was able to rise on Thursday, hitting a peak of $148.98 in the process. As a result of today's surge, the token remains close to Monday's top of $152.84, which was a two-week high. This point was also close to a... read More

Solana Price Fails To Break $34 Again, What Could This Mean?

    SOL price trades below 50 and 200 EMA on the daily timeframe despite showing some relief strength.  SOL rally caught short as BTC price continued to range. The price must hold $30 support or face a drop-down to a weekly low.  The price of Solana (SOL) has recently shown some bullish strength, but it has struggled to break above key daily resistance against tether (USDT). Solana (SOL) prices have continued to fluctuate as bulls and bears play chess with SOL. SOL's lack of bullish strength has left many traders and investors perplexed as to where it might go next. (Data from Binance) Solana (SOL) Price Analysis On The Weekly Chart  Weekly SOL Price Chart | Source: SOLUSDT On After bouncing from its weekly low of $30 as a price rally to a high of $45 before facing a stip rejection, the price of SOL has recently declined, and the price has continued to struggle to rejuvenate its bullish trend. The price of SOL remains marginally above a key support level of $30; this level of support is acting as a good demand zone for buy orders. For SOL to have a chance to trend higher, the price must break through its weekly resistance of $35. To restore a relief bounce, the price of SOL must break and hold above the $35 resistance with good volume. This area of resistance has kept the price of SOL from rising. If the price of SOL continues to reject $35, we could see a retest of $30 support and possibly a lower support area of $24 on the weekly chart if there ... read More

Solana Price Reverses Its Green Start, What's The Next Target?

    Solana price was off to a good start this week despite choppy market conditions. The bulls have tired out over the last 24 hours. In the past day, the altcoin fell by 3%. Solana prices have risen by nearly 6% in the last week. The technical indicator continued to demonstrate that the bears were in control at press time. If buying strength continues to head in the same direction, then most of the coin's weekly gains would be nullified. The technical outlook for the coin was negative as the sellers took over at the time of writing. The current support zone for the coin is between $33 and $26. If SOL falls below its current price level, then the bears will gain momentum on the chart. With Bitcoin consistently wavering near the $19,000 mark, most altcoins also started to wobble on their respective charts and moved closer to their immediate support levels. For Solana price to reach its next price ceiling, the demand for the coin has to increase on its chart. Solana Price Analysis: One Day Chart Solana was priced at $33 on the one-day chart | Source: SOLUSD on TradingView SOL was trading at $33 at the time of writing. The coin had registered recent gains over the past few days, but the bulls faced resistance and it fell on its chart. The immediate resistance for the coin stood at $38 and then another price ceiling was at $41. If Solana price decides to move above the $41 level, then bulls could come around on the chart. On the other hand, the closest support line was at $29, and a ... read More

Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence

    The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. Its incredibly fast transaction times had been one of the pulls, as well as the ability for developers to create decentralized applications (DApps) on the network. Since the beginning of 2022, the network has been racing toward an important milestone, which it has now successfully broken through.  Solana Surpasses 100 Billion Transactions Solana’s transaction count had been ramping up over the last couple of months. In just 2 years, it has become one of the most used blockchains in the space. Solana had taken the decentralized finance (DeFi) and non-fungible tokens (NFTs) space by storm, now commanding the second-largest market share of the NFT space of any blockchain. Last week, the network made it past the 100 billion transaction mark. Interestingly, the network is still in Beta testing, and it has grown so much. It had been able to grow above the delay transaction count of its largest competitor Ethereum after it clocked more than 40 million daily transactions.  SOL price trending at $35 | Source: SOLUSD on Solana continues to maintain its high transaction processing even with the massive growth it has experienced. At the time of this writing, the transactions per second (TPS) in the last 30 minutes were averaging around 3,000 TPS, according to data from Solana Explorer. SOL NFTs Rival Ethereum Ethereum NFTs had been the dominant ... read More

Solana Price Analysis: Following Today's 7% Spike, This is SOL's Target

    Despite the turmoil in traditional markets, Solana's native token - SOL - managed to have a green start this week following a 7% price increase over the past 24 hours. Key Support level: $30Key Resistance level: $38 In the past two days, decent buying pressure has allowed Solana to spike towards the critical resistance level at $38. If this bullish momentum continues, a test of this key level becomes very likely in the coming days. On the other hand, SOL's buyers were able to defend $30 support. Chart by TradingView Technical IndicatorsTrading Volume: The volume level closed in green yesterday, and today (Monday) Solana opened in green. This is bullish, but buyers must increase their volume to sustain this momentum. RSI: The daily RSI managed to surpass the 50 points mark, into the bullish territory. The RSI is also making higher lows but is yet to reach the high recorded on September 12th. MACD: The daily MACD is bullish. The moving average lines are curving up, and the histogram is making higher highs. This shows momentum in favor of the buyers. Chart by TradingView Bias The bias for SOL is bullish. Short-Term Prediction for SOL Price Solana demonstrates a bullish price action and is gathering momentum for its biggest test, which will be found around the key resistance of $38. Sellers may return at that level and attempt to push the price lower. A clean break above this resistance would open the way for Solana to its next target at $40 and then $48. The post Solana Price An... read More

Solana Price Continues To Trade Laterally With Signs Of Further Deprecia...

    Solana price has moving been sideways for the last few months, and it has maintained the same price action. Over the last 24 hours, SOL has depreciated 2.6%. In the past week, the altcoin's gains were negated by the ongoing lateral trading. Buying strength has remained low over the last week and that has further pushed Solana price to their closest support line. If buyers push the price higher, SOL could attempt to topple over the $33 price level. As sellers continue to dominate, it could be tough for SOL to experience a breakout from the $30-$32 price zone. The bulls failed to hold onto the $33 price mark and ever since that, the coin has continued to spiral downwards. Increased consolidation of SOL has reduced buyers' confidence. For SOL to invalidate the bearish thesis, it needs to move above the $40 price zone. The global cryptocurrency market cap is now $971 billion, down by 0.2% in the last 24 hours. Solana Price Analysis: One Day Chart Solana was priced at $33 on the one-day chart | Source: SOLUSD on TradingView SOL was trading at $33 at the time of writing. The coin experienced heavy resistance at the $41 price mark, and the bulls have been rejected at that mark for over months now. Immediate resistance for Solana price was at $38, toppling which SOL might attempt to touch $41. On the flip side, a fall from the present price mark will push SOL to $30 and then to $26. The amount of Solana traded in the last session declined, indicating that buyers were fewer in number.... read More

Solana Holds Key Support To Avoid Drowning, How Long Can This Last?

    The price of Solana (SOL) has been volatile against tether (USDT), causing more pain for hodlers. Despite showing such strength, the price of Solana (SOL) has risen from $30 in recent weeks to around $45, as many investors hoped for more relief rallies to around $60. Solana (SOL) prices were rejected and have continued to fall with no significant bounce. (Data from Binance) Solana (SOL) Price Analysis On The Weekly Chart  SOL's price dropped from $250 to around $30, representing a drop of more than 70% from its all-time high. After touching a weekly low of $32, the price of SOL rallied to $45, demonstrating great strength as many set prices and expectations for a rally back to $60, but the price was met with rejection. On the weekly chart, the price of SOL formed a downtrend line as it continued to respect this resistance line, bouncing off to continue its bearish run. Nonetheless, the price of SOL was rejected from the trendline resistance after a while, and it could not break this trendline. SOL is trading above the key support level of $30; the price of SOL must remain above this level to avoid falling to $24-$20. With the price of SOL holding this support, we may be able to trade higher to the $35 region. A break below $30 would signal a return to lower demand zones and a reluctance of bulls to enter buy orders as there would be more agitation for lower prices. To resume its bullish trend, SOL's price must break and hold above the trendline resistance that is preven... read More

Solana Price Trades Laterally, What Could Be The Next Level?

    Solana price has been volatile over the last week, with no significant change in the last 24 hours. In the last week, SOL fell by 6%. At the moment, the Solana price is neither swaying towards the bullish zone nor the bearish territory. The technical outlook for the altcoin has flashed mixed signals. Broader market weakness could be attributed to the altcoin's mundane price action. Bitcoin slipped below the $20,000 mark and many other prominent altcoins also travelled south. Buying strength on Solana's daily chart remains in the negative with chances of it dropping on its chart further. The bulls are also trying hard to defend the $29 price mark. A fall below the aforementioned level could push SOL into a bearish pit. Solana prices had recently formed a rounding bottom, making buyers enthusiastic about its next price movement. However, the coin could not hold onto the bullish anticipation. The global cryptocurrency market cap today is $1 trillion, with a 0.1% negative change in the last 24 hours. Solana Price Analysis: One Day Chart Solana was priced at $33 on the one-day chart | Source: SOLUSD on TradingView SOL was trading at $33 at the time of writing. The bulls had surrendered to the $37 price level and caused the price to fall to its next support line. At the moment, the bulls are trying to defend the price of the altcoin at $29. The overhead resistance for the coin stood at $37. If SOL moves past the $37 mark, the coin can attempt to trade near the $40 price mark. On ... read More

Solana (SOL) Heats Up 7% In Last 24 Hours As Helium Eyes Merge

    SOL, Solana's native coin, has seen its value increase since the announcement of its impending merger with Helium. The developers of Helium came up with HIP 70, which aimed to relocate the entire Helium supply chain to Solana. Developers behind Helium have stated that increasing the network's scalability, stability, and speed were the primary motivations behind the merger. According to a Medium post published by Solana on August 31, the company proposes migrating the Helium ecosystem from the L1 chain to its own 'highly-scalable and fast blockchain,' which will allow for 'higher uptimes, greater composability, and a faster user experience while maintaining the security and low cost of using the Helium Network.' SOL Trading Volume Up A Decent 250% Recent data shows that SOL's trading volume has increased by an impressive 250 percent, from a recent low of $675,184 to today's trading volume of $1,685,409. When business volume rises, prices tend to rise as well. The price increased by 11.52 percent in just 12 hours on September 2. This most recent upward movement resulted in a price of $38.06. On Wednesday, however, a fairly severe correction follows this bull pattern. A rising price carries with it the possibility of a sell-off, since some traders may seek to make a profit. This occurred shortly after SOL's price peaked at $38.82. The rapid reversal occurred just one day after the bull movement. Solana-Helium Merge To Shape Investor Confidence After the mar... read More

Solana Tops 1 Million Weekly Transactions

    The overall demand for NFTs may be faltering, but those on the Solana are not. In fact, Solana NFT transactions skyrocketed to one million weekly, according to Nansen data. Pushing the trading volume across Solana-based NFT marketplaces are Magic Eden and Metaplex, that has increased their respective market shares of the overall NFT space this month. But the latest surge in activity in the blockchain can be credited to Solana-based y00ts mint t00b, which has fetched over $10.5 million in trading volume. Solana NFT transactions per week presented without comment — Nansen Intern (@nansen_intern) September 12, 2022 Solana's y00ts Steals the Show Data from DappRadar suggested that y00ts even eclipsed leading NFT collection, Bored Ape Yacht Club (BAYC), and the Ethereum Naming Service (ENS) over the past week. The 'y00ts mint t00b' collection has given Ethereum NFTs a run for their money. After a hot start last week, it even topped OpenSea volume charts. Its much-anticipated launch, however, wasn't spared from delays and complications. It was initially scheduled to drop on September 4, however, due to the detection of a 'blocker bug,' the y00ts mint was delayed and went live the next day. Amid the chaos, the Web 3 tech company tied to the project - Dust Labs - secured $7 million in funding from multiple venture capital firms, including FTX Ventures and Solana Ventures. Additionally, its whitelist included celebrities such as football legend Wayn... read More

Solana Skyrockets 9% to $40 as Bitcoin Maintains $22K (Market Watch)

    Bitcoin continued to register minor gains in the past 24 hours and charted yet another multi-week high above $22,500. Solana has emerged as the top performer from the larger-cap altcoins, with a notable 9% increase to $40. Bitcoin Saw Another Minor Peak Ever since last week's price dump to $18,500, bitcoin has been on a roll. It began by recovering to $19,000, where it stood for a few days, and even the ECB's record-breaking interest rate hike didn't push it south. The end of the week brought even more positives for the bulls as bitcoin jumped above the coveted $20,000 line. The weekend saw another price increase, as this time, the asset pumped above $21,500. After settling there for a while, the cryptocurrency began another offensive, breaking above $22,000 and even jumping to $22,600 in the past 24 hours. This became its highest price level since August 19. As of now, it has retraced by a few hundred dollars but still stands north of $22,000. Its market cap is still above $425 billion, and its dominance over the altcoins has increased to 40%. BTCUSD. Source: TradingView SOL Steals the Show Most of the larger-cap alts are slightly in the red today, including Ethereum, which has been on a roll lately, perhaps fueled by the hype surrounding the upcoming Merge. However, the second-largest cryptocurrency is down by around 2% in the past 24 hours to just over $1,700, despite the Merge coming closer and closer. Binance Coin, Cardano, Polkadot, Shiba Inu, and Dogecoin are also slig... read More

Solana Price Rallied 8% And Formed A Rounding Bottom, What's Next?

    Solana Price shot up by 8% over the last 24 hours, painting a bullish chart. Over the past week, the altcoin soared almost 17%. This made Solana one of the top gainers in the past week. Solana has been able to break past its $33 mark and has turned bullish on its chart. It also formed a bullish pattern, thereby giving hope to traders. Solana might encounter rigid resistance at the $41 price zone. Many altcoins have managed to flash signs of optimism as Bitcoin started to trot up on its chart. The technical outlook pointed toward the bulls taking over as demand for Solana shot up. Traders have decided to go long given the price trajectory of Solana. Solana has been one of the most high-performing crypto assets in recent times. Despite high demand, if Solana doesn't move past the $41 price mark, a fall to its closest support level is inevitable over the next trading sessions. The global cryptocurrency market cap today is $1.12 trillion, with a 1.4% positive change in the last 24 hours. Solana Price Analysis: One Day Chart Solana was priced at $37 on the one-day chart | Source: SOLUSD on TradingView SOL was trading at $37 at the time of writing. Over the past few months, SOL has mostly oscillated between $33 and $49, respectively. In the past 24 hours, Solana propelled 8% and also formed a rounding bottom pattern. This pattern is tied to bullishness and a continuation of an upward price movement. Overhead resistance was at $41, and a break above that would put Solana at $49. A m... read More

Solana Shows Bullish Signs Ahead Of 1D Breakout, Can Price Go To $45?

    Solana (SOL) develops bullish sentiments against tether (USDT), as the price of Solana (SOL) seeks to rise with an impending breakout above the current resistance. Bitcoin (BTC) gained significant strength after closing the weekly candle on a high note, with the price remaining above $21,700 for the first time in weeks. Most crypto assets, including Solana (SOL), have benefited from this, with the price aiming to break out. (Data from Binance) Solana (SOL) Price Analysis On The Weekly Chart  Weekly SOL Price Chart | Source: SOLUSDT On The price of SOL has struggled to maintain its bullish momentum in recent months, as it was rejected from the $45 area, which was acting as a supply zone for most sellers. Despite growing sentiment that the price of SOL will rise, SOL has struggled to regain its bullish momentum. The weekly chart of SOL looks good, as the week ended bullish with more bullish sentiments. As the price of SOL cannot trend higher, it faces resistance to breaking above $38. SOL must break above this level in order for its price to rise to $40 and possibly $45. For a better chance of trading higher, the price of SOL must break and hold above this resistance. If the price of SOL breaks out with significant volume, the price may rise. If the price of SOL fails, we could see a retest of $31, which would act as a good demand zone for a price sell-off. The price of SOL appears to be rising as the market prepares for a relief rally. Weekly resistance f... read More

Biggest Movers: SOL, Near Protocol up by Over 10% to Start the Week

    Solana moved closer to the $40.00 mark on Monday, as it rose for a sixth straight session to start the week. Bullish momentum in the world's ninth largest cryptocurrency intensified, following a breakout of a resistance point of $36.35. Near protocol was also in the green, as prices rose by over 10% on Monday.Solana (SOL) Solana (SOL) climbed to a three-week high to start the week, as the token moved towards the $40.00 level Following a low of $34.48 on Sunday, SOL/USD was able to reach a peak of $38.15 so far in today's session. Today's rally comes as the toke rose past a key resistance level of $36.30 for the time since August 19. As seen from the chart, Monday's rally came as the 10-day (red) moving average crossed its 25-day (blue) counterpart for the first time in over a month. In addition to this, the 14-day relative strength index (RSI) is currently tracking at 61.31, which is its strongest reading since August 13. This is marginally below a ceiling of 64.05, which will likely be the main hurdle preventing prices from rising above $40.00. Near Protocol (NEAR) Near protocol (NEAR) was another notable mover to start the week, with prices nearing a one-month high. NEAR/USD was able to climb to a peak of $5.25 on Monday, less than 24 hours after trading at a low of $4.72. Monday's surge comes as near protocol rose for a sixth consecutive session, with today's top the highest point it has reached since August 16. This recent rise in bullish momentum comes following an up... read More

Solana Nears 100 Billion Transaction Milestone As Price Aims For $40

    Solana has made a name for itself in the decentralized finance (DeFi) and non-fungible token (NFT) space over the last few years. Its growth has seen it become one of the largest contenders for the leading smart contract network Ethereum, as it presents faster and cheaper transaction options. Its transaction count had quickly multiplied in light of this, and now, the cryptocurrency has neared another important milestone. Almost 100 Billion Transactions With only two years of operations under its belt, Solana has quickly grown in prominence among crypto investors. With an average of 3,000 transactions per second (TPS), the total transaction count on the Solana blockchain is like a runner on steroids. Presently, the total transaction count on the network has surpassed 97.1 billion. This was the count as of Friday when this report was written. Given that the number was around 96 billion on Thursday, Solana’s transaction count is growing at around 1 billion per day. This rate would see the network hit the 100 billion mark before the weekend is over.  To put this in perspective, the current daily transaction count on the Ethereum network is a little over 1 million at 13 TPS. The upgrade to ETH proof of stake will reportedly allow Ethereum to process 100,000 TPS, but for now, it continues to lag behind competitors such as Solana in terms of speed and capacity.  Solana Looks To Grow Further Over the last day, digital assets across the cryptocurrency market have seen... read More

Solana Gains 11% In 2 Days As SOL Cruises Near Resistance Zone

    The 11 percent gain of Solana from its dip on September 7 comes after months of turbulent market conditions. A tenth of that may be meaningless by the time this is published. The market is currently trending upwards. The market bottomed out at $33.79 on Wednesday before falling 9.29% to $30.89. At this point, both the CCI and the Stoch RSI for SOL showed that the crypto had been oversold. While SOL was recovering over the course of eight hours, trading volume decreased from the sell-off of 1.650 million to 1.280 million. Solana Bulls Unfazed By Pressure The dip was relatively minor, and the bulls continued to push higher. One of the largest positive price movements ever since SOL was introduced was a 16.55 percent increase.  Recent research indicates that this price action is very bullish. We can be upbeat about the price moving as high as $36.50 if it manages to end above the long accumulation zone tension ($33.05) on the charts. From the most recent available data, we can see that the current support line is located somewhere around the $32.40 price range, but the price has been trading much higher, near $35.26, recently. Chart: Since breaking through several near-term resistance levels at the 50, 38.2, and 23.6 Fib levels, the price of SOL has maintained its support. SOL is attempting to merge its position above the 23.6 Fibonacci level after breaking through the $34.36 resistance zone. This trend aligns with the mo... read More

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the M...

    A great deal of digital currencies are down in value during the last 30 days and the worst performing crypto out of the top ten coins with the largest market valuations was solana, losing 19.12% against the U.S. dollar. Bitcoin was the second biggest loser in the top ten, as the leading crypto asset shed 12.71% in USD value this month.Despite Mid-August Pump, Crypto Economy Shrank by $102 Billion Last Month Crypto assets saw a decent rise on August 14, 2022, as bitcoin (BTC) jumped over the $25K zone and ethereum (ETH) surpassed $2K per unit. Despite the jump in value, BTC shed 12.71% in the last 30 days from Wednesday, August 3, 2022, up until Friday, September 2, 2022. Ethereum's monthly loss was less brutal after ETH took a 2.75% hit against the U.S. dollar. BNB lost ​​7.02%, XRP dropped 10.53% against the dollar, and ADA slid 9.34%. Solana (SOL) was the biggest loser out of the top ten crypto assets as it lost 19.12% against the dollar. The tenth largest crypto asset, polkadot (DOT), shed 8.93% during the last 30 days. Historical statistics from indicate that the global cryptocurrency market cap on August 3 was $1.06 trillion and by September 2, the overall valuation of the entire crypto economy was under $1 trillion at $982.53 billion. Crypto prices were different 30 days ago as well, as bitcoin (BTC) was trading for $22,829 per unit. Ethereum (ETH) was swapping for $1,614 per coin, and BNB was fetching $282 per unit. The best-performin... read More

Biggest Movers: SOL Slips Towards Multi-Month Low, as LTC Surges on Thur...

    Solana was back in the red on Thursday, as the token fell towards a three-month low in today's session. The decline comes as cryptocurrency markets fell lower, trading down by as much as 2.39% as of writing. Litecoin was a notable exception, climbing for a second successive session.Solana (SOL) Solana (SOL) was down by over 5% during Thursday's session, as prices moved closer to a multi-month low. Following a high of $32.38 on Wednesday, SOL/USD slipped to a low of $30.51 earlier in the day. This decline pushes SOL closer to its floor at $29.90, which is also its lowest level since June 18, when prices were as low as $26.90. Last month saw solana fall rapidly, going from a peak of $48.32 on August 13, to a low of $29.91 on August 29. The bearish sentiment seems to have carried into September, with the relative strength index still in oversold territory. As of writing, the index is tracking at 33.82, which is close to a floor of 32.32. Should we see this support hit, prices will likely recapture June's low.. Litecoin (LTC) While solana fell lower, litecoin (LTC) was trading higher on Thursday, as the token extended recent gains. LTC/USD rose to a high of $56.50 earlier in today's session, moving away from Tuesday's low of $51.85, which saw the token hit a two-month bottom. Since then, prices have climbed in back-to-back sessions, with today's surge taking prices close to a key resistance point. As litecoin approached its ceiling of $57.00, price uncertainty was insured, wit... read More

Solana Price Faces Bearish Momentum, Next Move Could Push SOL To $28

    Solana price witnessed a strong bearish pull as major market coins also depreciated significantly on their charts. The altcoin fell by 6% over the last 24 hours. In the past week, Solana lost 14% of its market value. The bulls were trying to defend the coin at their nearest support level, however, the coin met with a sell-off over the past 24 hours. Over the last few days, Solana was trading sideways above its support level of $34. The recent depreciation on the chart caused SOL to fall below its immediate support level. If Solana price continues to move on the same price trajectory, a fall below its present price level will be inevitable. The technical outlook for the coin pointed towards bearishness. Selling strength shot up over the last 24 hours as buyers lost confidence. A move below the $31 price mark will cause SOL to revisit the $28 price level. The global cryptocurrency market cap today is at $1.01 Trillion, with a 3.5% negative change in the last 24 hours. Solana Price Analysis: Four-Hour Chart Solana was priced at $31 on the four-hour chart | Source: SOLUSD on TradingView SOL was trading for $31 at the time of writing. The coin just lost the support of the $34 level and was eyeing the next support level. The closest support line for the coin stood at $28. Overhead resistance for the coin stood at $37. In case the coin manages to revisit the $34 level, a move above that price level could be expected. In case Solana price is unable to remain at its present level, a m... read More

Solana SOL Eyes Key Support At $31, Will It Survive The Next Leg Down?

    Solana SOL trades below $35 against Tether (USDT) after flipping its support into resistance in recent weeks. The price of BTC failed to sustain its bullish structure as it breaks below key zones, this breakdown in prices affected other altcoins like Solana leaving investors confused as to where the market is headed. Solana (SOL) Price Analysis On The Weekly Chart Weekly SOL Price Chart Analysis | Source: SOLUUSDT On From the chart, the price of SOL saw a weekly low of $31, which bounced from that area and rallied to a price of $44 after showing great recovery signs in recent weeks.  SOL’s weekly candle closed with a bullish sentiment with the new week's candle looking bearish showing signs of weakness after being rejected from $44. The price has struggled to gain traction as it attempts to hold key support. If the price of SOL on the weekly chart maintains this structure, it could quickly return to $31, which serves as key support. read More

Solana (SOL) Sees Potential Wipeout Based On Bearish Technical Indicator

    Solana (SOL) price has enjoyed a winning streak by a whopping 75% as seen in the past two months after it has capsized to a mere $25.75. SOL forms head-and-shoulders pattern hinting at bearish movement. Solana’s 75% gain witnessed in the past two months may be a potential fake-out. SOL price down by 2.40% and trading at $42.86 as of press time. However, the gains may prove to just lead the traders on due to an impending bearish movement. Does this hint at a potential bullish fake-out? SOL formed a head-and-shoulders pattern which can be resolved once the price breaches below the neckline. Solana has been showing a consistent bearish outlook as seen on the charts. SOL Forms H&S Pattern; Indicates A Bearish Standpoint Judging by the weekly chart, SOL has formed the right shoulder or a part of the H&S pattern which indicates a correction reaching $27 that could happen sometime in the second quarter of 2022. Inevitably so, a breach below the $27 zone could trigger a correction moving towards $2.80. More so, a decline in token price by 95% may occur at the end of 2022 or the early part of 2023 as forecasted by Profit Blue, a crypto analyst. According to CoinMarketCap, Solana price has nosedived by 2.40% or trading at $42.86 as of this writing. Solana’s bearish behavior has become apparent as it’s impacted by Fed issues and trends that put the market at high risk. SOL recently closed the week with a profit of 10.5% on August 14 which is close to that of Bitcoin&... read More

Is Solana Really Decentralized? A Validator Health Report

    The Solana Foundation recently released its first report evaluating the health of the Solana network.  Its initial report digs into key metrics assessing the health of its validator network. These include its total validator count, Nakamoto consensus, and distribution.  Breaking Down the Nodes Per the foundation’s report on Wednesday, Solana currently consists of more than 3400 validators across six continents. Validators are responsible for independently verifying new transactions, and storing the state of Solana’s ledger.  “A large, diverse set of validator operators are essential to maintain a resilient, distributed, and credibly neutral network for the world to use,” explained the foundation. Validators are broken into two camps: consensus nodes, and RPC nodes.  Consensus nodes create and propose new blocks for the network while verifying blocks proposed by other network nodes. In general, the more Consensus nodes there are, the less likely chance there is for a user’s transaction to be tampered with. Meanwhile, Remote Procedure Call (RPC) nodes perform the same duties as consensus nodes, but also provide an “application gateway” to Solana infrastructure. They often provide a convenient way for users to interface with the core Solana network in a way that’s specialized to a particular application.  Over 1900 of Solana’s validators are consensus nodes. Furthermore, an average of 95 consensus nod... read More

Why Solana Could Poised For A 40% Price Move To The Upside

    Solana has been one of the best-performing assets in the crypto 10 top by market pairing Ethereum’s wins during the weekend. The cryptocurrency has persevered some of its past week's gains but records some hurdles over the past 24 hours. At the time of writing, Solana (SOL) trades at $44.5 with 1% losses over the past day and 10% profits in the past 7 days. In this timeframe, only Ethereum (13% profits) and Dogecoin (13% profits) record better performance. SOL's price moving sideways on the 4-hour chart. Source: SOLUSDT Tradingview Despite the short-term downside price action, crypto analyst Justin Bennett believes SOL’s price is on track to register a massive increase. This big move to the upside could play out over the course of the coming months and push Solana’s price into a 40% move to the upside. According to Bennett, SOL has drawn a triangle pattern over the past months. The price of Solana has been moving to the upper side of this triangle which should operate as critical resistance north of SOL’s current levels. In the daily chart below, and as stated by the analyst, the upper side of this triangle pattern can be traced to 2021 as SOL moved into its all-time high. As the price of Solana began a descending price action, the cryptocurrency found support along that line and saw a major breakdown once SOL trended below it. SOL's price is on a make-it-or-break-it point as it trends to the top of a triangle pattern on the daily chart. Source: Justi... read More

Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears

    Solana (SOL) price has locked its sights on the goal from day one. Solana's price is extremely bullish Price spiked aggressively to $47 SOL/USD pair key resistance spotted at $49.5 Evidence to that, SOL price has behaved extremely bullish as the price surged to $47. The bulls have been consistent with orchestrating an uptrend for a couple of days now. Solana Showing Uptrend Signals Despite Correction In fact, due to stubborn resistance, the price of SOL spiked to $48.4 early yesterday. It was apparently a short-term surge and then the price went back to the same level. Notably, the SOL/USD pair continues to move forward incrementally. The next resistance for the pair is spotted at the $49.5 mark. On a one-day timeframe, SOL price has shown an impressive uptrend a few hours ago as it trades at $47.  Additionally, the SOL/USD pair price has also dipped in value by 0.40% as observed in the past 24 hours. According to CoinMarketCap, the SOL/USD pair is experiencing correction and is now trading at $44.34, or a drop of 5.65% as of press time. Total volume for SOL has increased by 42.05% or currently at $1,372,667,870. Solana's price also recorded a profit of 18.93% as seen in the past couple of days as the price has been on an uptrend. Volatility has been on a rise for SOL as presented on the divergence of Bollinger bands which hints at spiked volatility in the coming days. The Bollinger upper band is spotted at $47 with the price actively trading above that level. On t... read More

Biggest Movers: MATIC, SOL Move Towards 4-Month Highs on Saturday

    Polygon rallied to its highest point in nearly four months on Saturday, as the token climbed to the $1.00 mark to start the weekend. Solana was also trading at a multi-month high, as it rose by over 10% earlier in today's session. As of writing, the global crypto market cap is trading nearly 3% higher.Polygon (MATIC) Polygon (MATIC) was a notable gainer on Saturday, as the token rose to its highest point since May. Less than 24 hours after trading at a low of $0.9141, MATIC/USD climbed to a peak of $1.02 to start the weekend. This is the strongest point that the token has traded at since May 7, and comes after prices rallied past a key resistance level. Looking at the chart, this resistance was at the $0.9500 region, which was last breached on July 31. However, the move eventually turned into a false breakout. As of writing, another resistance level was hit, with the 14-day relative strength index (RSI) now tracking at a ceiling of its own. This is the 66 point on the index, which has been in place since July 17, when the RSI moved to a high above the 80 level. Following earlier highs, MATIC is once again trading below $1.00, as bulls retreated from their previous positions. Solana (SOL) In addition to MATIC, solana (SOL) was another big mover in today's session, with it also climbing to its highest point since May. SOL/USD raced to an intraday high of $48.18 to start the weekend's session, as bulls attempted to recapture the $50.00 point. The move sees solana hit its highe... read More

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart...

    Solana price has attempted to revisit the $44 price mark again and it is a matter of time till the coin displays its next move. Over the last week the coin rose by 14% and in the past one day there has been a close to 3% increase in market value. The coin has demonstrated steady recovery in the last 24 hours. At the moment bullish force has built up considerably in the market and it could push price of SOL higher with sustained demand. Technical outlook for the coin remained positive at the time of writing. Solana price previously in the past had not managed to break past the $44 price mark. For SOL to finally break past that level, demand needs to consistently go up. If the coin does not remain above the $44 level, it would fall to trade near its support zone. The global cryptocurrency market cap today was at $1.21 Trillion, with a 0.6% hike in the last 24 hours. Solana Price Analysis: Four Hour Chart Solana was priced at $44.79 on the four hour chart | Source: SOLUSD on TradingView SOL was trading at $44.79 at the time of writing. After multiple attempts the bulls were again attempting to move past the aforementioned price level. Overhead resistance for the coin stood at $46, however, moving past the $44 price zone will itself be a challenge for the bulls considering the bulls failed twice previously. Local support for Solana price stood at $40. If the bulls manage to cross the $46 price level then it could touch the  $50 price level. Amount of SOL traded in the p... read More

Solana Wallet Slope Says no Evidence Linking Security Flaw to $4 Million...

    Solana mobile wallet provider Slope Finance, said to be responsible for the recent multi-million dollar incident, has admitted to a security vulnerability while adding that there is no evidence linking the security flaw to the hack. This is despite the fact that Solana Labs researchers have fingered the wallet provider’s security lapses as the cause of the over $4 million hack that occurred earlier in August. Slope issued a statement on Thursday (August 11, 2022), revealing details of its own investigation into the matter. This was done in collaboration with cybercrime company TRM and auditors OtterSec and SlowMist. According to Slope, there is “no conclusive evidence” linking the vulnerability in its system to the hack. Slope stated that only 1,444 of its wallet addresses were confirmed to be drained during the attack. However, there are 9,232 affected wallet addresses, as stated in multiple reports about the hack and collated in this Dune Analytics dashboard. Slope’s statement added that the security vulnerability was behind an encrypted server. Access to this server also required a three-factor authentication protocol. The wallet service did admit that such a vulnerability should not have existed in the first place. Solana Labs researchers earlier pointed to a flaw in Slope’s security architecture. This flaw saw wallet seed phrases being stored in plain text. Seed phrases in crypto are mnemonic strings of 12 or 24 words that are generated whe... read More

SOL Makes Another Shot At $44, After Two Failed Attempts This Week

    Solana (SOL) bulls are determined to push the price of the coin higher and breach the $44 level. Solana price has shown strong bullish movement; support found at $40. Coin has peaked by more than 70% in comparison to its lowest level in 2021. The daily chart’s ascending triangle pattern hits massive gains in the coming days. Solana is trying to make that great comeback again after it has tried and failed twice to breach the $44 level.   SOL Currently Stuck At $43 According to CoinMarketCap, Solana has dropped by 2.30% and is trading at $43.41 as of this writing. The bulls are determined to push the price and reach $44 or higher. SOL is rallying around the $44 key resistance zone today and it looks like it just needs a little push to get there. Now, if the buyers fail to maintain the current momentum, then this could be the coin’s third failed attempt to breach the target level. At this point, the key support level is found at $40. Solana is observed to have impressive trading volume but the buyers need to keep that momentum going. RSI continues to hover above 50 points.  Now, if the coin manages to stay at this target range then SOL has a good probability to breach the resistance. Moreover, MACD has formed a bullish cross pattern today which looks enticing for many buyers but it’s still rather premature to make a call. Fake Breakout For SOL? In case SOL’s price hovers above $44, history tells us that this can just be a fake breakout. ... read More

Biggest Movers: ATOM Climbs to Highest Point Since May, While SOL R...

    Cosmos rose to its highest point since May earlier in today's session, as crypto markets surged on Thursday. The global market cap is trading over 6.27% higher as of writing, with bullish sentiment sweeping through. Solana was trading over 10% higher in today's session .Cosmos (ATOM) Cosmos (ATOM) was trading higher on Thursday, as the token rallied to its highest point since May. Following a low of $11.72 in today's session, ATOM/USD surged to an intraday peak of $12.27 earlier in the day. This was the most ATOM has traded at since May 23, when the token was at a top above the $12.30 region. Looking at the chart, this latest surge in price came following a rebound from a support point of $11.15, which came during Wednesday's session. This increase in price pushed the 14-day relative strength index (RSI) to a resistance level of 63, which has been in place since July 21. Should bulls in ATOM look to extend this recent run of form, then we will need to see the index move beyond this ceiling. Solana (SOL) In addition to ATOM, solana (SOL) was trading higher on Thursday, as prices climbed by over 10% in today's session. After residing at a floor of $39.99 on hump day, SOL/USD surged to a high of $45.00 earlier in today's session. This peak saw SOL trade at its most valuable since July 30, when the token was above the current resistance level of $45.00. Since colliding with this point earlier today, the price of SOL has somewhat slipped, and as of writing is at $44.10. Bulls s... read More

SOL With Another Attempt at $44, Will The Bulls Finally Make It? (Solana...

    After two failed attempts to break above the $44 level, Solana is back at it again. Key Support levels: $40, $35 Key Resistance levels: $44, $59 The bulls are seemingly very eager to push the price higher. The cryptocurrency rallied above the $4 key resistance level today but is now falling back down. If the buyers fail to sustain the momentum, then this might result in the third failed attempt at breaking this important level. The key support, meanwhile, is found at $40. Chart by TradingView Technical IndicatorsTrading Volume: A relatively good buy volume has taken SOL higher, but it seems that buyers struggle to maintain their momentum at the time of this post. RSI: The daily RSI remains above 50 points. As long as it stays above this level, then the cryptocurrency has a good chance to break the resistance. MACD: The daily MACD painted a bullish cross today. This is positive and may encourage buyers, but it is too early to make a call. Chart by TradingView Bias The short-term bias for SOL is bullish. Short-Term Prediction for SOL Price Even if SOL's price manages to move above $44 today, the past shows us that this can just as easily turn into a fake breakout. If buyers fail to close today's candle above this critical resistance, then the bears may regain control and push the cryptocurrency back to $40. A successful breakout would open the way for SOL to reach $60, but that seems far away at this time. The post SOL With Another Attempt at $44, Will The Bulls Finally Ma... read More

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