Solana (SOL) Makes a Comeback with 12% Increase in 24 Hours
Well, well, well, look who's back on the rise! After almost a week of consecutive losses, Solana (SOL) has seen a 12% increase in the past 24 hours. Meanwhile, the two largest cryptocurrencies by market cap - Bitcoin and Ethereum - have remained relatively stable with less than a 1% change.
But what's been going on with Solana? Recently, the cryptocurrency has been volatile due to a number of factors, including one of its biggest backers (former FTX CEO Sam Bankman-Fried) being disgraced and some top NFT projects announcing their plans to leave the Solana blockchain.
But despite these setbacks, the Solana team has been working hard to improve the network's stability, decentralization, and speed. And according to reports from the Solana Foundation, their efforts have been successful. The Solana network is now faster than ever, with around 4,000 transactions per second (that's a lot of transactions, folks). It's also highly decentralized, with 1,911 independent validators and a Nakamoto coefficient of 30.
But that's not all - the Solana network is also super energy-efficient. The average nonvoting transaction uses less energy than three Google searches, and the entire network uses less energy per year than a single Bitcoin transaction. Plus, the Solana Foundation has made the whole network carbon neutral. Talk about eco-friendly!
Even during a recent stress test, the Solana network held up like a champ. Average block times remained at a speedy .61 ms, even with a high volume of transactions. And with the release of Jump Crypto's Firedancer validator client, the network is only going to get more stable and secure. In fact, Solana will be the only blockchain besides Ethereum with more than one validator client.
Now, I know what you're thinking - what about those top Solana-based NFT projects that announced they were leaving the network? Don't worry, there are plenty of other projects that are sticking around and taking advantage of all the improvements the Solana network has made. So sit back, relax, and enjoy the ride as Solana makes a comeback.
Solana Blockchain SOL Token Soars After FTX Crash, Will It Reach $50 This Year?
After a crash linked to troubled crypto exchange FTX, the Solana blockchain SOL token has been on a rebound, doubling in price since mid-December. With Ethereum co-founder Vitalik Buterin's support, the token is expected to continue its surge to pre-crash levels and beyond.
Crypto Market Soars: Bitcoin, Ethereum, and Solana Jump Over 12% This Week
Crypto is on fire this week, with Bitcoin, Ethereum, and Solana all jumping over 12%. A falling CPI, declining interest rates, and a potentially positive industry news have all been tailwinds for the crypto market. Despite the short-term surge, investors should be wary of the opaque nature of the largest crypto exchange, Binance.
Solana Blockchain Activity Soars Despite FTX Collapse
Solana blockchain activity remains high despite 50 million SOL tokens being locked in the FTX exchange collapse, according to Citi research. The Solana Foundation was heavily invested in FTX, and their collapse has caused a crisis for other protocols on the blockchain.
Solana Network Thriving Despite Foundation RPCs Offline
Solana Network remains functional despite the Foundation's public RPCs being offline due to a bug in the Validator client's test release 1.14. Despite the incident, the network has seen an increase in daily addresses and a 37% increase in its native token, SOL, in the past week. The Solana community has also rallied around a new memecoin, Bonk Inu, which has risen by over 1000% in the first week of 2023.
Can Solana Price Reach $30? Recent Developments Could Push Coin 2x
Solana's price has skyrocketed recently as developers and users flock to the cryptocurrency. The addition of the meme coin BONK has also contributed to the surge, with its price rallying over 3,600% since launch. With the RSI at oversold levels and the MACD signaling further bullish momentum, Solana may be headed for a 2x to $30.
Cardano and Solana Surge 21% - Reentering Territory Not Seen Since November
Crypto values for both Solana and Cardano skyrocketed late Sunday, with Solana's BONK coin leading the way with an impressive 60% increase over the week. Charles Hoskinson's recent developments in Wyoming have also contributed to Cardano's success.
Revolutionizing Charitable Giving: How Change is Empowering Nonprofits with Blockchain Technology
Northwestern grads Sonia Nigam and Amar Shah created Change, a web3-based software that enables consumers to donate both crypto and fiat to over 200,000 non-profits. With the help of Solana, Change has raised over $1,000,000 and allows individuals to follow the money trail to ensure their donations are going to the right place.
Vitalik Buterin Endorses Rival Blockchain: Is Solana the Next Ethereum Killer?
Vitalik Buterin, the founder of Ethereum, recently tweeted his endorsement of Solana, a rival blockchain. His endorsement came at a pivotal moment for Solana, as the blockchain has faced some challenges in the past. Buterin believes that Solana has the potential to be a major player in the world of smart contract platforms, and with his endorsement, it's worth keeping an eye on. Could Solana be the next Ethereum killer?