Solana

Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is a general purpose blockchain similar to Ethereum. End user applications as of now include decentralized finance (DeFi), non-fungible tokens (NFT), marketplaces, games, and more. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Solana co-founder Anatoly Yakovenko published a whitepaper describing Proof of History, a technique that would become critical to Solana's blockchain infrastructure, in Nov. 2017. 

Co-founder Greg Fitzgerald, who had worked with Yakovenko at Qualcomm, began prototyping the open source implementation of the whitepaper. It was published under the name Silk in 2018. 

After starting the company under the name Loom, Yakovenko, Fitzgerald, and other co-founders rebranded to Solana. Solana launched on Mainnet Beta in March 2020.

Solana was built to facilitate the development of scalable, user-friendly decentralized apps with low costs and high speeds for transactions.

Solana believes its unique blockchain architecture that combines the proof-of-stake consensus mechanism and its own proof of history mechanism is the key to achieving these goals.

Proof of history works almost like a cryptographic timestamp that proves that an event has occurred at a specific time. It enables the blockchain to work fast while maintaining security and decentralization.

There are about 304 million SOL in circulation as of November 2021. Solana has an initial inflation rate of 8%, which will decrease by 15% a year until it reaches a long-term inflation rate of 1.5%. SOL is Solana’s native token.

Solana competes with other blockchain platforms such as Ethereum and Avalanche to host crypto projects such as NFTs, decentralized exchanges, and gaming. 

Developers and users flocked from Ethereum to Solana due to high transaction costs, but many could gravitate back towards Ethereum if it manages to lower costs, which could happen as a result of the Ethereum 2.0 upgrade and layer 2 rollups. 

Solana.com
Docs.solana.com/history
Forums.solana.com

Ethereum

Polygon

A Bloomberg crypto analyst says that Ethereum (ETH) and two other altcoins are creating unprecedented financial opportunities for emerging markets. Blockchain analyst Jamie Coutts says on the social media platform X that ETH, Polygon (MATIC) and Solana (SOL) are unlocking greater access to the private credit market.

Bloomberg Analyst Says Ethereum, Polygon and Solana Unlocking Opportunities for Emerging Markets – Here's How

A widely followed crypto strategist is updating his outlook on one red-hot artificial intelligence (AI) altcoin. The pseudonymous crypto analyst Pentoshi tells his 707,100 Twitter followers that Fetch.AI (FET) is likely entering a consolidation phase after soaring 307% year-to-date. “Update: mid-term resistance resisting.

Top Trader Updates Outlook on AI-Focused Altcoin That's Exploded 307% Year-to-Date, Unveils Targets for Solana

Solana (SOL), an alternative layer-1 blockchain and Ethereum challenger, has experienced a remarkable surge, with its price reaching $46.30 and gaining over 21% at one point in the past day.

Solana Rallies 20%, Outperforming Other Large Caps

Aave

A crypto strategist who accurately called the top of Bitcoin's (BTC) 2021 bull market is expecting another leg up for XRP. Pseudonymous analyst Pentoshi tells his 706,900 followers on the social media platform X that XRP looks bullish after taking out a key resistance level at $0.548. “XRP fans. A breakout above $0.

Top Analyst Predicts Breakout Rally for XRP, Updates Outlook on Solana and Ethereum-Based Altcoin

The value of FTX's stake in Solana's SOL token, for instance, has just added $1 billion in two weeks.

A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High

Solana fell to as low as $8 after the collapse of FTX. It's now up over 80% in the last 30 days.

What's Driving the Solana Rally?

Bitcoin

The Federal Reserve pulled no surprises on Wednesay as it kept policy on hold but promised a continued focus on bringing inflation to heel.

Bitcoin Retakes $35K After FOMC as Solana's SOL Leads Sharp Altcoin Rally

Solana (SOL) continued its remarkable rally Wednesday and hit a 14-month high price, but sell pressure may soon hit the market as FTX unstaked another $65 million of tokens after moving millions of SOL to crypto exchanges over the past few days.

Solana Surges to 14-Month High; Sell Pressure Lingers as FTX Unstakes $67M Tokens

The Comeback Coin: Solana Soars 20% as Rally Rages On

Bitcoin's price rose after the U.S. Federal Reserve decided to hold interest rates at their current level, as expected.

Bitcoin's price is mostly flat as Fed holds rates steady; Solana leads altcoin rally

SkyBridge Capital, the hedge fund company founded by Anthony Scaramucci, on Tuesday, said it experienced record-breaking monthly returns, primarily attributed to investments in Bitcoin (CRYPTO: BTC). What Happened: According to Scaramucci, the month of October has been the best in SkyBridge's history.

Anthony Scaramucci Says Skybridge Had 'Best Month' In History Thanks To Investments In These 2 Coins: 'It Served Us And Our Clients Well'

Solana has displayed some very impressive performance lately, rising over 80% in a matter of weeks.

Solana Prices Climbed More Than 80% In Under A Month

Backpack, the Solana-based app best known for "xNFTs" and its connection to the Mad Lads project, will roll out a regulated crypto exchange.

Solana NFT App Backpack Launching Crypto Exchange With Dubai License

Bitcoin's rally has slowed—for now. But alts like XRP, SOL, and TON are still surging.

Bitcoin Dips as ETF Hype Fades—XRP, Solana and Toncoin Surge

Google Cloud's BigQuery has integrated Solana, offering enhanced insights into the blockchain's archival data and analytics.

Solana goes live on Google Cloud's BigQuery data analytics platform

The latest price moves in bitcoin [BTC] and crypto markets in context for Oct. 31, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Solana's SOL Gains 50% in October

Former Goldman Sachs executive Raoul Pal says Solana (SOL) is starting to look like a rocket ship on the charts as it gears up for big developments. In a new interview with Scott Melker, Pal touches on Firedancer, a new validator client for the Solana chain which is being developed by trading giant Jump Crypto.

Ex-Goldman Sachs Executive Sees ‘Rocket Ship' Solana (SOL) Chart in the Works Ahead of One Bullish Catalyst

Bonk

Solana (CRYPTO: SOL)-based meme coin BONK has gained significant traction in the last 24 hours, outperforming popular meme coins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB). What Happened: BONK, launched on December 25, 2022, is Solana's first dog-inspired meme coin.

Solana Dog-Token Darling BONK, That Once Shot Up 3300%, Is Today's Top Meme Coin Performer — Leaves Shiba Inu, Dogecoin Trailing In The Dust

Rising optimism in crypto has pushed institutional investors into making their largest allocation of capital into digital assets markets in over a year. In its latest report, Digital assets manager CoinShares says institutions put $326 million into crypto investment products last week, the largest weekly inflow since July of 2022.

$326,000,000 in Institutional Capital Hits Bitcoin and Altcoins In Largest Wave Since July 2022: CoinShares

Ether-based funds continue to fall out of favor, with outflows for the year now totaling $125 million.

Crypto Funds See Largest Inflow in 15 Months, With Bitcoin, Solana Leading Rally: CoinShares

Solana surged to near a one-year high to start the week, as bulls pushed the cryptocurrency above the $35.00 level. Today's surge comes as the global crypto market cap rallied, following a recent bout of consolidation. Avalanche also edged higher, surging by 5% today.

Biggest Movers: SOL Hits Near 1-Year High, Gaining 9% on Monday

Pepe

A number of major alt coins and tokens have jumped in price this morning.

Bitcoin Rally Cools, But Solana, Pepe, and XRP All Jump in Price

The estate of bankrupt crypto exchange FTX and its associated trading arm Alameda Research was seen moving almost $20 million in crypto assets over the weekend. First spotted by blockchain tracking firm Lookonchain, wallets belonging to FTX and Alameda moved a total of $19.

FTX and Alameda Move Nearly $20,000,000 in Solana (SOL) and Other Altcoins in Just One Day: On-Chain Data

Chainlink

Arbitrum

A widely followed analyst and trader is laying out what he thinks is in store for a trio of altcoins including Solana (SOL) and Chainlink (LINK).

Here's What's Next for Solana (SOL), Chainlink (LINK) and One Additional Altcoin, According to Crypto Strategist

Vaneck, a leading digital asset manager, has recently unveiled a study on the network Solana, providing a wide spectrum of SOL valuation scenarios for the year 2030.

News for Solana Crypto (SOL)