Solana’s ambitious design aims to solve the blockchain trilemma; however, it still suffers from various drawbacks such as its vulnerability to centralization. What is Solana? Solana is a highly functional open source project that implements a new, permissionless and high-speed layer-1 blockchain. Created in 2017 by Anatoly Yakovenko, a former executive at Qualcomm, Solana aims…
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The crypto-economy has been sliding in value during the last 48 hours as the current market valuation for all 13,000+ crypto assets is $1.83 trillion. Furthermore, the total value locked (TVL) in decentralized finance (defi) protocols has slipped below the $200 billion mark to $196.02 billion on Sunday morning (EST). Meanwhile, Ethereum’s dominance is 55.54%…
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The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Across 14 blockchains that support NFTs, sales have slipped 29.46% lower than the week prior. Despite the drop in NFT sales volume, NFT sales stemming from the Arbitrum network spiked by 97.53% this week.
NFT Interest and…
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Traders continue to sell the top of each rally, resulting in a sharp pullback in Bitcoin price and several major altcoins. The equity markets in Europe and the United States are seeing a sea of red as traders continue to sell risky assets due to the geopolitical situation. Bitcoin (BTC) and several major cryptocurrencies are…
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Bitcoin appears to be losing momentum and altcoins are stalling, but the fact that bulls are holding key support levels could signal that the rally will continue after a brief pause. The speculation regarding the U.S. Federal Reserve’s tightening cycle and recent geopolitical developments may have resulted in panic selling by short-term traders. Analysis from…
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The ability for users to withdraw digital assets from centralized exchange FTX is expected to enhance security, ease-of-access and traversing across the Solana ecosystem for both experienced and retail consumers alike. Bonfida, a multifunctional infrastructure built around Solana blockchain, has announced that their Solana Name Service, or SNS, will be integrated into cryptocurrency exchange FTX in…
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The upside setup for SOL’s price appears despite Solana-based investment products seeing significant capital outflows. The price of Solana (SOL) may rise by over 45% in the coming weeks as the cryptocurrency intends to complete a double-bottom chart pattern against the United States dollar. A $150 SOL ahead? Double-bottoms typically appear at the end of…
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Bitcoin and altcoins surprised investors with a sharp bullish breakout on Feb. 28, signaling a possible change in the short-term trend. Bitcoin (BTC) soared above $40,000 on Feb. 28 even though the S&P 500 remained soft. This suggests that the correlation between Bitcoin and the U.S. equity markets may be showing the first signs of…
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A recent report states that freelancing is experiencing a boom in Argentina, and also comments on how Argentinians are among workers in the region that most actively use cryptocurrencies to receive part of their paycheck. The report further states that workers accepting their paychecks in crypto favor traditional cryptocurrencies such as ether and bitcoin, which…
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LIDO price made a double-digit move after the liquid staking platform added support for KSM and partnered with Apricot Finance to form a lending marketplace for SOL. Ethereum (ETH) and decentralized finance (DeFi) are undergoing a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism is helping to increase the value proposition…
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