https://t.me/Solana_Updates

2022-05-22 17:56:02 Solana on the Verge of Major Price Movement

Solana is trading within a narrow range. The good news is that as prices squeeze, momentum builds for a significant spike in volatility. While the cryptocurrency market continues to suffer from Terra’s death spiral, Solana is on the verge of a significant price movement.

Solana ranks amongst the worst-performing cryptocurrencies in May. The Layer 1 blockchain saw its price drop by nearly 60% during the first 12 days of the month. Although SOL has rebounded by more than 40% from the swing low at $36.20, it is locked in a consolidation pattern that anticipates further volatility on the horizon. Still, the lack of trading volume in the cryptocurrency markets suggests that SOL could be bound for a steep correction.

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2022-05-21 15:24:02 Magic Eden Tops OpenSea in Daily Trading Volume as Solana NFTs Heat Up

The Solana non-fungible token (NFT) market is beginning to find its stride, with daily transactions on the ecosystem’s leading marketplace, Magic Eden, now topping OpenSea, its Ethereum blockchain counterpart.

According to weekly data from DappRadar, Magic Eden has seen roughly 275,000 daily transactions (which includes purchases, bids and listings) compared with OpenSea’s 50,000, according to weekly data from DappRadar.When reached by CoinDesk, Magic Eden provided data showing 330,000 true sales (not also bids and listings like the DappRadar data) had occurred over the last week, which works out to about 47,000 daily transactions.

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2022-05-20 15:45:03 A Win for Solana NFTs as Not Okay Bears Delisted by OpenSea

Solana NFT derivative collection the ‘Not Okay Bears’ has been removed from OpenSea marketplace, after complaints from Okay Bears collectors.Okay Bears quickly rose to become one of the best Solana NFT projects since the minting of the 10,000 Okay Bear NFTs on April 26th.

The initial mint price was 1.5 SOL ($75) which rose to a floor price today of 207 SOL ($10,000) on OpenSea NFT marketplace.They’ve generated over 38,000 ETH in sales volume ($72 million) on OpenSea alone and around $100 million combined with other NFT marketplaces including Solana NFT marketplace Magic Eden.Then this week on May 16th a knockoff version or ‘derivative’ project calling itself the Not Okay Bears was minted, an Ethereum NFT collection.

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2022-05-19 16:57:02 Solana (SOL) NFT Trades Moon Amid Crypto Crash

Solana NFT marketplaces have proven to be one of the fastest growing NFT marketplaces, after their number of users skyrocketed to 250,000 traders in just the months of April and May. This is according to data from Dune Analytics.

A key moment in the NFT world was perpetrated by Solana and Moonbirds. April recorded a 23% increase from available data in March which saw $6.3 billion made in Solana NFT trading volume during the month. In a monthly report from DappRadar, that was just the third time the trading volume was in excess of $6 billion.Solana (SOL) has gained in its place as one of NFT’s key players due to its performance speed, low gas fees and security. Its big status is further confirmed by its record of a large number of NFTs and projects spread across NFTs, Defis and even more.

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2022-05-18 18:19:02 Solana NFTs Come 'Full Circle' as Okay Bears Knockoff Lands on Ethereum

Early in the growth of Solana’s NFT ecosystem, it was common to find obvious knockoffs of top Ethereum projects like CryptoPunks and Pudgy Penguins. Now, Okay Bears—the hottest recent Solana NFT project—has been effectively copied and pasted onto Ethereum in what some observers on Crypto Twitter have hailed as a “full circle” moment for Solana.

Not Okay Bears is an Ethereum-based NFT profile picture project that launched earlier today, with 10,000 cartoonish bear illustrations with a variety of randomized traits. If the imagery looks awfully familiar, that’s because it’s the same artwork from Okay Bears on Solana—just reversed so that the bears are facing left instead of right.Call it a knockoff, a derivative, or a parody—but it’s also a success, so far. The 10,000 NFTs were all quickly minted this morning at 0.02 ETH (about $41) each aside from the first 1,000 of them, which were free to mint.

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2022-05-17 17:05:07 Solana Bounces Back From Lows

Solana stands at the $53 level, with volatility projected to continue for some time. Solana maintains its 8th position on market capitalization even today, while ETH and ADA remain ahead of this new-age crypto chain.

SOL is down by 70% over the last year, but it could soon become the eye candy for crypto investors with discounted trading value.While there is a very low probability for similar steps to get repeated with SOL, this blockchain works on smart contracts, has a shorter transaction processing time, and emphasizes maintaining fees and taxes while supporting scalability and usability. These aspects highlight a real-life use case for SOL crypto and its blockchain, which wasn’t seen with LUNA.

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2022-05-16 14:53:02 Metaplex Is Solving Solana’s Network-Crashing NFT Botting Problem

Amid a rising market for Solana NFT collections—headlined by recently hot projects like Okay Bears and DeGods—has come an increase in malicious programs used to unfairly game new NFT launches on the blockchain. On April 30, it crashed the entire Solana network.

On that Saturday, such programs (or bots) sent an automated barrage of transactions—6 million per second, according to a postmortem report by Solana Labs—that overwhelmed the blockchain network. They did so in an attempt to beat out legitimate users during the minting process, in which collectors purchase newly generated NFT collectibles from a project.The bots swarmed Candy Machine, the minting tool for Solana NFT protocol Metaplex, and took down the whole network in the process.

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2022-05-15 15:28:02 SOLANA VCS HOLD MORE THAN 30% SUPPLY

The current crashing of Terra LUNA has attracted a lot of attention in the market, as the experts try to analyze what could have caused the problem. However, the issue of VCs-funded projects has been coming up. VCs withdrawing funds is the potential to crash a project.

There are many crypto projects that are VCs backed, and one of them is Solana. In fact, Solana has more than 30% of its supply backed by VCs. What does this mean for the Solana project? Is there something that Solana investors should be worried about? Well, probably not because Solana is a solid project with real use cases.

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2022-05-14 16:32:02 Solana Struggle as Investors Lose Confidence

Solana and Avalanche seem to have reached a crucial demand wall after seeing their market value drop by more than 50% over the past few weeks. Still, the lack of buyers at current price levels is a warning signal.

Solana has plummeted by more than 36% over the past three days, going from a high of $75 to hitting a low of $48 recently. The steep correction pushed SOL to test the lower boundary of a parallel channel at $51.60, where it has been contained since September 2021.Such a vital demand zone would have to hold to prevent the Layer 1 token from incurring further losses.

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2022-05-13 08:44:02 Crypto market bloodbath hits Solana particularly hard

The past several days have been trying times for crypto investors as a broader market pullback has wreaked havoc on token prices. While Bitcoin and Ethereum have sustained over 20% declines each over the past week, a number of emerging projects have been hit even harder.

As broader market uncertainty is pushing investors across the board to minimize risk, emerging crypto networks are finding themselves in a tough position. Solana has been one of the year’s breakout success stories, thanks in no small part to a close embrace of venture capitalists who see the blockchain as a worthwhile competitor to Ethereum.The platform’s lower fees have attracted developers, though the network has come under fire for lengthy outages.

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