The daily transaction costs of Solana have reached a multi-month low, suggesting a decrease in activity on the blockchain. The decline occurs as the enthusiasm surrounding meme coins on the blockchain diminishes, partially attributed to the introduction of Tron DAO’s SunPump. Notable tokens in the Solana ecosystem include Tether USD, Solana (SOL), Circle USD, Chainlink,…
August 27, 2024 at 08:35 AM GST 2 mins read News PYUSD sees 271% growth on Solana, which accounts for 88% of its adoption and 64% of its market share, surpassing Ethereum. Solana’s low transaction costs and instant settlements make it a key driver of PYUSD’s growing adoption in decentralized finance. Solana’s token extensions provide…
Market watchers have praised the Solana (SOL) price action throughout the month. The fifth-largest cryptocurrency by market capitalization has displayed a strong performance despite the market shakeouts, recently reclaiming the $160 support level. Analysts suggest that SOL might repeat history and kickstart a rally toward a new all-time high (ATH) soon. Related Reading Solana Breaks…
Solana (SOL) faces declining institutional interest and weakening technical indicators. Average Directional Index (ADX) falls below 25.0, signaling loss of trend strength. Price consolidation between $175 and $126 likely, with potential for recovery if $175 breached. Solana (SOL), once a darling of institutional investors, finds itself at a critical juncture as the third quarter of…
August 27, 2024 at 12:17 AM GST updated: August 26, 2024 at 07:10 PM 2 mins read News Bitcoin leads the cryptocurrency market with the highest market capitalization, serving as a benchmark for digital assets globally. Ethereum’s smart contract capabilities and recent shift to Proof of Stake solidify its position as the leading blockchain for…
Digital asset investment products attracted $533 million in inflows last week, the biggest in over a month, following Jerome Powell’s hint at the Jackson Hole Symposium that an interest rate cut might occur in September. While trading volumes were lower than in recent weeks, these products still totaled $9 billion for the past seven days….
Your guide: How to Convert Wrapped SOL to SOL? Wrapped SOL (WSOL) is something you’ve probably seen on the Solana network. You need to use WSOL to work with decentralized applications (dApps) on Solana, but there are times when you need to change it back to regular SOL. You might be done with your dApp…
Alphabet Inc’s Google department is making great strides with its AI chatbot, Gemini. Among Large Language Model AIs (LLMs), it competes with the likes of ChatGPT, Meta AI, and X’s Grok. As such, CryptoPotato decided to inquire about what cryptocurrency could be the next to have an exchange-traded fund in the States to track its…
Solana (SOL) seems to be following the crypto market rebound, rallying 2.7% in the last 24 hours, 14.6% in the previous week, and 12.2% in the 14-day charts. This price prediction guide will cover the topic entirely. Despite the rally, SOL is still down in the monthly charts, falling 13.2% in the last 30 days….
At the time of writing, SOL is trading at $158.80, down 0.30% in the last 24 hours. If the price manages to go past the $160 mark, then it will likely rally towards $164 level. Prominent on-chain analyst Ali Chart tweeted an optimistic forecast for Solana (SOL). His chart suggests that Solana is forming a…
Solana (SOL) has recently seen a significant price uptick, with the altcoin approaching the key resistance zone of $160. In the previous week, SOL price was rejected by this level, and was still struggling to cross it. However, this upturn in the price is due to the emergence of fresh long positions, which fueled the…
In just seven months—roughly 236 days—since the year began, the crypto economy has ballooned by a staggering $623 billion. The top crypto asset, bitcoin, has seen its market value soar by more than $20,000, while ethereum, the second-largest by market cap, has climbed over $470 during this period. Top 10 Crypto Market Climbs From $1.37T…
An analyst predicts Solana’s Adam & Eve pattern could lead to a 33% surge toward $220. The SEC’s regulatory concerns limit Solana’s ETF approval chances in the U.S., but Brazil remains favorable. In a tweet, Ali Chart, a well-known on-chain analyst, shared a bold prediction for Solana (SOL). According to the chart he shared, Solana…
Solana price surpassed its resistance at $145 in the last 24 hours. The token’s daily trading volume surged by 123.19% according to CMC data. Over the last 24 hours, in an interesting turn of events, the crypto market has begun to show bullish sentiments. The overall market cap has increased by 4.07% while daily trading…
Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million. NFT Market Booms With Ethereum at the Helm Reaching $99M in…
August 24, 2024 at 02:00 PM GST updated: August 24, 2024 at 12:34 PM 3 mins read Press Release The crypto market is currently experiencing a downturn as global economic issues affect all risk-driven assets. With growing uncertainty in financial markets, cryptocurrencies are also feeling the impact, leading to a decline in prices that tests…
SunPump’s revenue on the Tron Network surpassed Pump.fun, highlighting its growing influence within the ecosystem. Despite scrutiny over USDD’s stability, the Tron ecosystem remains strong, with TRX showing resilience. According to Lookonchain data, SunPump’s revenue on the Tron Network has lately surpassed that of Pump.fun on the Solana. SunPump earned 3,656,176 TRX, or roughly $571,000,…
Solana (SOL), currently positioned as the fifth largest cryptocurrency by market capitalization, is mirroring Bitcoin’s (BTC) recent pattern of recovery, exhibiting a positive trajectory over the past couple of weeks. Friday’s recent price spike comes on the heels of positive macroeconomic developments from the US Federal Reserve (Fed), which have had a positive impact on…
Raoul Pal criticizes Cardano and XRP for losing their innovative edge, advising investors to avoid them. XRP and ADA have struggled in the market, with both facing significant resistance and declining in value. Raoul Pal, a prominent economist, recently voiced concerns over the future of two major altcoins, Cardano (ADA) and Ripple’s XRP. In a…
The Dencun upgrade in March 2024 was a significant milestone for Ethereum, but it also brought about unforeseen challenges, particularly for Layer 2 networks. Christine Kim, a researcher at Galaxy, highlighted that this upgrade inadvertently led to an increase in transaction failures across these networks. Ethereum’s Layer 2 Networks Face Challenges Kim’s August 21 analysis,…
August 23, 2024 at 02:00 PM GST updated: August 23, 2024 at 12:27 PM 4 mins read Press Release While the weather might be cooling down in some places, the same can’t be said for these red-hot cryptocurrencies that are catching everyone’s attention. If you’ve been keeping an eye on the market or even just…
August 23, 2024 at 06:17 PM GST updated: August 23, 2024 at 01:11 PM 2 mins read News PayPal partners with Anchorage Digital to offer PYUSD holders interest rewards, boosting adoption amid regulatory challenges. PYUSD expands beyond Ethereum to Solana, enhancing transaction speed and utility for merchants worldwide. PayPal’s Xoom adds PYUSD for fee-free international…
Most market assets were overshadowed by Tron’s recent ascent. Solana (SOL) has been having a great year following its 600% growth. But the asset took a backseat this month following an 18% drop. At press time, SOL was trading at $143.59, with no major fluctuations throughout the past 24 hours. Source The asset was battling…
Solana-based meme coins have had an incredible run over the last year. Popcat (POPCAT) is currently one of the best-performing cryptocurrencies, rallying 31% in the last 24 hours and 23.6% over the last week. Source: CoinGecko The meme coin continues to glow red in the other time frames, falling 0.8% in the 14-day charts and…
Crypto analyst @XForceGlobal shared a new video chart analysis focused on Cardano (ADA), a cryptocurrency that many are dismissing as a “dinosaur coin” at the moment. In the analysis, XForceGlobal (@XForceGlobal) provided an in-depth look at Cardano’s current position within the Elliott Wave cycle, suggesting that ADA is on the of entering a strong upward…
August 23, 2024 at 02:10 PM GST updated: August 23, 2024 at 01:30 PM 2 mins read News Tron surpasses Solana as the second-largest blockchain by total value locked, following only Ethereum. Tron generated $443 million in fees over 90 days, second only to Tether among crypto protocols. SUNDOG, a leading Tron meme coin, hit…
McDonald’s Instagram page was reportedly hacked on August 21, leading to a significant scam involving a Solana-based meme coin. The perpetrators exploited the fast-food chain’s social media account to promote a fraudulent token named “Grimace,” referencing one of McDonald’s fictional characters featured in its advertisements. Bubblemaps’ findings reveal that the hacker acquired 75% of the…
Hackers likely took over McDonalds’ Instagram account to promote a Solana-based memecoin called GRIMACE. The cyberattack, which briefly duped investors, underscores the growing trend of cryptocurrency scams exploiting high-profile social media accounts. The hackers didn’t just post about GRIMACE—they crafted a narrative, presenting the token as “a McDonald’s experiment on Solana.” This was enough to…
Anchorage Digital, a leading institutional-grade crypto platform, has launched a reward program for institutional investors holding PYUSD on its platform or in its self-custody wallet Porto, according to an Aug. 22 statement. The company announced that institutions using its services or Porto can now earn “competitive rewards” on their PYUSD holdings. Unlike other reward programs…
Tron founder Justin Sun believes the blockchain’s revenue could soar to $4 billion within the next year if its current meme strategy proves successful. In an Aug. 21 post on X, Sun projected that TRON’s total revenue might hit $3 billion over the next 12 months, with $1 billion burned and $2 billion distributed as…
The Solana dump looks far from over as whales continue offloading their SOL holdings during this market downtrend. The recent shakeup in the crypto space might have also contributed to these whales’ bearish sentiment towards Solana. Crypto Whale Offloads $16 Million Worth Of Solana In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain…
Hackers seized control of McDonald’s Instagram account to promote fake Grimace tokens, making away with about $700,000 from investors. McDonald’s has successfully recovered its account and deleted all related posts. On Wednesday, August 21, the official Instagram account of fast food giant McDonald’s, with over 5 million followers, was compromised and used to promote a…
The removal of Instagram and X posts indicates that the platform’s accounts have been restored. The hackers informed people about the rug pull and made $700,000 worth of SOL. Bad actors hacked the Instagram account of fast food giant McDonald’s and promoted a meme coin based on Solana. On his X (formerly Twitter) account, which…
The Brazilian Securities and Exchange Commission (CVM) has greenlighted a second Solana exchange-traded fund (ETF) weeks after it approved its first one on August 8. According to the CVM’s central database, the product will be launched by Hashdex, an asset manager based in Brazil, in collaboration with the local investment bank BTG Pactual. Brazil’s Second…
Justin Sun‘s Tron blockchain’s daily revenue reached a new all-time high of $3.84 million, driven by the memecoin generator SunPump. This milestone places Tron ahead of established networks like Ethereum and Solana, which reported $1.36 million and $541,000 in daily revenue, respectively. Tron Blockchain Fees (Source: DeFillama) SunPump is driving Tron’s revenue Market observers have…
Switzerland has taken a step further in embracing crypto with the recent expansion of the instant payment scheme as other banks integrate XRP into their trading platforms. According to reports, 28% of banks in Switzerland allow or are planning to allow customers to invest in crypto. According to an announcement by the Swiss National Bank…
Even though there have been some worries in the world of crypto, new information shows that the market is still strong, especially in the United States and Canada where there is a lot of investment. Some people are nervous because of decisions the Federal Reserve might make about interest rates, but the numbers show that…
Solana funds experienced a significant outflow of $39 million last week, marking the largest weekly withdrawal on record for the cryptocurrency. Analysts believe this may be due to investor concerns about Solana’s heavy reliance on memecoins, which has raised concerns about the platform’s stability and long-term prospects. CoinShares’ report on digital asset fund flows highlighted…
Solana (SOL) has been making headlines in two different regions. After the Solana exchange-traded fund (ETF) in the United States hit a roadblock, news from Brazil gave the market new life. According to recent data, the Brazilian Securities and Exchange Commission (CVM) has approved a second Solana-based ETF. The CVM authorized the first Solana ETF…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 A protocol in Solana ecosystem initially designed to short memecoins is now flipping its strategy, allowing users to capitalize on heavily shorted tokens. Dumpy.fun, which derives its name from the successful Solana memecoin deployer pump.fun, is set to launch a new tool named “squeezy.lol” on August 27. The platform’s…
Brazil’s securities commission, the CVM, has approved a second Solana ETF this month. Hashdex, a Brazil-based asset manager, will offer the new Solana ETF in partnership with investment bank BTG Pactual. Brazil’s Securities and Exchange Commission (CVM) has greenlit a second Solana ETF, marking a notable step for crypto investments in the region. This new…
VanEck is still hopeful of getting its Solana ETF approved. This is despite them having withdrawn the 19b-4 filing from the CBOE website recently. The asset management firm remains convinced that Solana should be classified as a commodity. A commodity, pretty much like Bitcoin and Ethereum as the regulatory pressure increases. Nevertheless, this decision demonstrates…
The SEC has put a halt to Solana SOL ETF filings, delaying the process of approval for the new exchange-traded funds. The regulator recently raised concerns about Solana’s classification as a security. This led to the withdrawal of 19b-4 filings for Solana ETFs from the Cboe BZX exchange. Both VanEck and 21Shares have seen their…
A new malicious browser extension called the “Bull Checker” is reportedly targeting Solana users on Reddit by masquerading as a meme coin tracker. This extension evades detection systems and has drained Solana users’ wallets. Solana Users Targeted In the past week, Jupiter’s pseudonymous founder, Meow, reported that a few Solana DeFi users experienced unauthorized token…
Ethereum’s grip on the smart contract throne is facing increasing pressure as Solana positions itself as a formidable contender. PayPal’s PYUSD stablecoin is speeding towards a $1 billion market cap, and Solana is playing a big part in this growth. Launched just over a year ago, PYUSD has gained impressive momentum, with its market cap recently…
Mango Markets, the Solana-based decentralized finance (defi) platform that lost more than $110 million in 2022, is currently holding a vote on a proposed settlement with the U.S. Securities and Exchange Commission (SEC) over alleged securities violations. Should the proposal pass, it could result in a settlement involving a financial penalty and the end of…
The Solana (SOL) ecosystem stands out for many reasons. The altcoin has witnessed a rise of nearly 600% over the past year. SOL was trading at a low of $21 just a year ago, but the asset managed to surge beyond the $200 level. Despite this, the asset failed to reach its all-time high of…
SEC rejected Cboe’s Solana ETF filings over security concerns. 21Shares paused efforts; VanEck’s Solana ETF application still active. The U.S. Securities and Exchange Commission (SEC) has rejected Cboe BZX’s 19b-4 filings for two proposed spot Solana ETFs, according to the reports. This decision led to the removal of the filings from the Cboe website and…
The DAO behind the Solana-based DeFi protocol, Mango Market, has overwhelmingly approved a proposal to settle a securities violation case with the US Securities and Exchange Commission (SEC). On Aug. 19, MangoDAO submitted the SEC Settlement Offer Proposal to avoid further litigation after the financial regulator accused the platform of securities violations. Under the proposal,…
The U.S. Securities and Exchange Commission (SEC) has classified Solana (SOL) as a possible securities, which has impeded the launch of SOL ETFs. As a result, the Chicago Board Options Exchange (Cboe) has withdrawn the necessary 19b-4 forms from its website, causing a delay in the certification process. The SEC concerns have resulted in the…