Solana TVL drops 32.4% as FTX turmoil rocks ecosystem
The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a […]
TVL, network outages, or derivatives: What's behind Solana's (SOL) 60%+ drop?
The past couple of months have not been kind to cryptocurrencies. The sector’s aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. Solana’s (SOL) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high. Pinning the underperformance exclusively […]
Solana reportedly hit by DDoS attack but network remains online
Solana’s blockchain performance was reportedly hit by a distributed denial of service (DDoS) attack over the past 24 hours, however the network appears to have remained online throughout. A DDoS attack generally refers to a large number of coordinated devices, or a botnet overwhelming a network with fake traffic to take it offline. This wouldn’t […]
Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target
Solana (SOL) price is meeting resistance near its all-time high again, but solid fundamentals and the impressive growth of its decentralized finance (DeFi) and non-fungible token (NFT) ecosystem are likely to drive the altcoin above $250 before year-end. SOL/USDT 1-day chart. Source: TradingView Institutional investor interest is likely a key factor behind Solana’s impressive 490% […]
Solana reclaims $200 — 3 reasons why SOL price is up 35% in seven days
Solana’s (SOL) price edged up on Monday in the wake of a market-wide price rally led by Bitcoin (BTC), its total volume locked (TVL) hitting record highs and a promising technical setup. Bitcoin triggers market-wide rally SOL climbed by more than 6% to hit an intraday high of around $214. The SOL is now up […]
Solana-powered AMM Raydium proposes SushiSwap integration to reduce fees
Major decentralized exchange SushiSwap is the latest to consider action to mitigate Ethereum’s extreme transaction fees, and it involves a potential port to the Solana blockchain. A proposal, which was posted to the SushiSwap forum on Feb. 22 under the codename ‘Bonsai,’ suggests building out the platform on the Solana ecosystem. The integration is intended to […]