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

Bitcoin

Grayscale Investments has brought a new twist to crypto investing, rolling out the first multi-token exchange-traded product available in the U.S.

New Grayscale ETF holds multiple cryptocurrencies together, combining bitcoin, Solana and others

ARK Invest made an immediate splash on the latest publicly listed digital asset treasury company, buying just under $162 million worth of shares in Brera Holdings (BREA).

ARK Buys $162M of Shares in SOL Treasury Company Solmate, Formerly Brera Holdings

Brera Holdings PLC (NASDAQ:BREA) shares retraced in Thursday's after-hours trading after rallying by triple digits during the regular session. BREA shares are testing new highs.

Brera Holdings Becomes 'Solmate,' Records 225% Jump After Announcing Solana Treasury Strategy — Rally Simmers Down After Hours

Cardano

Ethereum

Wall Street just got a powerful new on-ramp to crypto as the SEC greenlit a multi-asset fund holding bitcoin, ethereum, XRP, solana and cardano for trading. SEC Approves Grayscale Multi-Crypto Fund, Paving Way for Broader Digital Asset Access The U.S. Securities and Exchange Commission (SEC) announced on Sept.

SEC Approves Grayscale Fund With BTC, ETH, XRP, SOL, ADA in Regulatory Breakthrough

New comments from Solmate's Marco Santori and two widely followed analysts put the focus on SOL's $238 pivot and what would confirm higher prices.

Ex-Kraken CLO Says Solana Delivers on Promises Ethereum 'Made Almost a Decade Ago'

Nasdaq-listed sports holding company Brera Holdings saw its stock surge by 500% Thursday after it announced a Solana-buying strategy.

Solana Gets 'Solmate' via $300 Million Treasury Firm as Stock Surges 500%

A Grayscale fund tracking XRP, Solana, and Cardano was primed for its debut in the U.S., following long-sought approval from the SEC.

Grayscale ETF Tracking XRP, Solana and Cardano to Hit Wall Street After SEC Pause

Dogecoin

As Bitcoin (CRYPTO: BTC) edges closer to $118,000, prominent analyst Trader Mayne says the long-awaited 25-basis points interest rate cut clears the macro overhang and sets up one last Bitcoin-led push before an altcoin finale. What Happened: On his podcast after the FOMC decision, Mayne argued the market can "just focus on the charts," noting a whipsaw in the S&P 500, strength in gold and muted initial crypto reaction.

Bitcoin Rallies 2% As Analyst Outlines Q4 Ethereum, Solana, Dogecoin 'Altcoin Season' Roadmap

Brera Holdings (BREA), a Nasdaq-listed sports club owner, is the latest entrant into the growing Solana (SOL) digital asset treasury field raising $300 million to accumulate the token.

Solmate Joins Solana Treasury Push With $300M Funding From UAE Investors, ARK Invest

UAE-based Pulsar Group "sponsored" an oversubscribed $300 million private investment in public equity to kickstart DAT.

Solana Foundation, Cathie Wood's Ark Invest join $300 million placement for new SOL treasury Solmate

Their founder Kyle Samani has his sights set much higher than just $4B. Solana is responding in kind, leading crypto majors on the day.

Morning Minute: Forward Industries Eyes $4B to Buy More Solana

Analysts told CoinDesk early this week that major cryptocurrencies led by bitcoin would resume their slow grind higher following Wednesday's Fed rate cut.

BTC, XRP, SOL, DOGE Resume Slow Grind Higher After Fed, Dollar Index is Resilient Too

Forward Industries has filed a $4 billion at-the-market equity program with the SEC, with proceeds earmarked for general corporate purposes, including expanding its solana treasury strategy and acquiring income-generating assets. Solana Treasury Leader Forward Industries Launches At-The-Market Share Offering Forward Industries, Inc.

Forward Industries Files $4 Billion Equity Program, Targets Solana Treasury Expansion

GDLC's approval coincides with SEC adopting generic listing standards for crypto ETFs, which would expedite the launch process.

SEC approves Grayscale's multi-crypto fund with XRP, SOL and ADA

Like for its previous acquisitions, the treasury company intends to stake its recently purchased tokens “to a variety of validators."

DeFi Development acquires nearly $15 million in SOL, pushing Solana holdings above 2 million tokens

The move to spark increased innovation comes as the Paradigm-backed Kalshi experiences an uptick in monthly trading volume.

Kalshi partners with Solana and Base to boost ‘onchain innovation' as platform closes gap with Polymarket

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: OG bitcoin whale's 1,000 BTC move, XRP treasury firm's 65% discount, Forward Industries' $4B ATM for SOL, and more

The new contracts will include both standard and micro-sized options on SOL and XRP futures, CME Group said.

CME Group plans to launch options on Solana and XRP futures next month

Forward Industries (FORD), a publicly-traded design and manufacturing firm that's building out a solana (SOL) treasury, has filed a $4 billion at-the-market (ATM) equity offering program with the SEC.

Forward Industries Launches $4B ATM Offering to Expand Solana Treasury

Forward Industries seeks $4 billion to double down on Solana as treasury companies follow MicroStrategy's playbook for crypto accumulation strategies.

Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise

Ethereum (ETH) and Solana (SOL) remain two of the most influential blockchains in decentralized finance. Both are competing for developer attention, user adoption, and the capital that flows through decentralized applications.

Solana vs Ethereum: Which Chain Is Winning the Battle For DeFi Liquidity?

After raising $1.65 billion from a PIPE, and buying $1.58 billion worth of SOL, Forward Industries wants to raise $4 billion to support its Solana strategy.

Forward Industries doubles down on Solana strategy with $4 billion equity offering

Helius Medical has raised over $500 million in an oversubscribed offering to launch a solana-focused treasury vehicle, positioning SOL as its primary reserve asset with plans to leverage its yield and onchain growth.

Helius Secures Over $500 Million to Build Solana Treasury

Avalanche

Ava Labs, the main developer firm behind the Avalanche blockchain, shared Wednesday that it had appointed Arielle Pennington as their senior vice president of growth.

Solana Veteran Joins Ava Labs to Spearhead Avalanche Growth

Pantera Capital founder Dan Morehead revealed the firm's largest position is in solana, now worth $1.1 billion, citing its four-year outperformance against bitcoin. He also forecasted that bitcoin could surge to $750,000 within five years as adoption deepens.

News for Solana Crypto (SOL)