Solana's Daily Active User Base Skyrockets 50% - Here's Why
Solana's Moment:How the Blockchain Network is Experiencing a Resurgence
The crypto world has been abuzz lately with news of Solana's (SOL) user base having a moment. According to Token Terminal, the number of daily active users on the Solana blockchain has increased by an impressive 55.9%, reaching a new high of 160,000 users since the FTX crash in November. So, what's behind this Solana resurgence?
Bonk Inu (BONK):
The Meme Token on the Rise One factor driving Solana's growth is the hype surrounding Bonk Inu (BONK), a meme token on the Solana blockchain that's gaining a lot of traction on social media. Over 100,000 addresses now hold the token, and it's only growing in popularity. The overall positive momentum in the crypto market at the beginning of 2023 has also been a contributing factor to Solana's growth. Ethereum and Polygon, two of Solana's main competitors, have both seen increases in activity as well.
Combating the FUD
Beyond the hype and increased activity, @loganjastremski and @Frictionless have created a handbook to combat the FUD (fear, uncertainty, and doubt) surrounding Solana. They address four main criticisms of the network: downtime, centralization, inflationary tokenomics, and FTX involvement. The handbook argues that Solana has had 99.6% uptime, is decentralized and censorship-resistant, has a sustainable plan for profitability and inflation, and that FTX's involvement came after Solana had already gained traction.
The Future of Solana
It's hard to say how long this Solana moment will last, but the current positive momentum and efforts to combat FUD suggest that the future looks bright for the Solana network. With a growing user base, increasing hype around the Bonk Inu (BONK) meme token, and the overall positive momentum in the crypto market, it's safe to say that Solana is here to stay.
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?