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

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin Again Runs Into 2017-21 Trendline, SOL Flashes 'Shooting Star' Warning

Pantera Capital founder Dan Morehead revealed that the firm's $1.1 billion in Solana is the largest crypto position on its books.

Pantera founder says Solana is firm's biggest crypto bet with $1.1 billion position

Forward Industries makes a big entrance into the SOL treasury playbook with a $1.58 billion purchase.

Solana News: SOL Hits 8-Month High as Treasuries Cook and USD1 Gives Rewards

Suddenly, it's all about Ethereum rival Solana and its native token SOL as the broader market holds its breath ahead of Wednesday's Federal Reserve rate decision.

Solana Steals the Spotlight as Fed Rate Cut Nears: Crypto Daybook Americas

Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, congratulated Pantera Capital, Summer Capital and Helius Medical Technologies, Inc. (NASDAQ:HSDT) Monday on their plans to build a Solana (CRYPTO: SOL)-focused digital asset treasury company. HSDT is charging ahead with explosive momentum.

Anthony Scaramucci Congratulates Helium Medical, Pantera Capital On $500 Million Solana Treasury Move

Medical devices firm Helius is pivoting to Solana, raising $500 million to start a SOL treasury—and its stock price skyrocketed.

Helius Shares Pump 141% Amid $500 Million Raise for Solana Treasury

Dogecoin

Despite traditional September weakness, crypto majors like Solana and Dogecoin are inching higher as the Fed weighs rate cuts. Here's what the charts say.

Dogecoin and Solana Look Poised to Break September Crypto Curse: Analysis

Forward Industries said it now holds 6,822,000 solana ( SOL) after initiating a Solana-focused corporate treasury program and beginning to deploy proceeds from a recently closed $1.65 billion private investment in public equity (PIPE).

Forward Industries Discloses 6.8 Million SOL as Solana Treasury Plan Begins

Forward Industries announced a purchase of nearly 7 million SOL, becoming the largest publicly traded Solana treasury firm—by far.

Solana Gets First Billion-Dollar Publicly Traded Treasury as Forward Industries Buys 6.8M SOL

Ethereum

Digital asset treasuries (DATs), publicly traded firms that hold crypto on their balance sheets, have been hit hard in recent weeks as their market NAVs (mNAVs) slid below 1, Standard Chartered's Geoff Kendrick said in a new report.

Ether Bigger Beneficiary of Digital Asset Treasuries Than Bitcoin or Solana: StanChart

Forward Industries Inc (NASDAQ:FORD) has acquired 6.8 million Solana (CRYPTO: SOL) tokens for approximately $1.58 billion at an average price of $232 per token, marking the initial deployment of its $1.65 billion fundraising round as the company positions itself as “the leading Solana treasury company.” The purchases represent the first major execution of Forward Industries' Solana-focused treasury strategy, funded through a private investment round led by Galaxy Digital, Jump Crypto, and Multicoin Capital that closed Sep. 11.

Forward Industries Buys $1.58 Billion In SOL, As Michael Saylor's Strategy Continues BTC Accumulation

Helius joins the growing ranks of Solana treasury companies, alongside Forward Industries, Sol Strategies, and DeFi Development Corp.

Helius Medical Technologies soars 250% on $500M Solana treasury raise led by Pantera, Summer Capital

Helius Medical Technologies (HSDT) announced on Monday it's raising more than $500 million in a private financing round to create a Solana-focused treasury company.

Pantera-Backed Solana Treasury Firm Helius Raises $500M, Stock Soars Over 200%

Forward Industries kicked off its Solana treasury strategy with a 6.82 million SOL for about $1.58 billion, funded by its $1.65 billion PIPE financing.

Forward Industries kicks off $1.6 billion Solana treasury with 6.8 million SOL acquisition

Galaxy Digital Inc. (NASDAQ:GLXY) shares are trading lower in Monday's pre-market trading, coinciding with the cryptocurrency-focused company's purchase of over $280 million in Solana (CRYPTO: SOL). Galaxy Bags Heaps Of SOL Galaxy Digital bought 1.2 million SOL, worth $283.87 million at current prices, over the last 24 hours, reported on-chain analytics firm Lookonchain.

Galaxy Digital Ramps Up Solana Bet, Pours $283 Million In Crypto, But Stock Drops Pre-Market

Solana treasury firm Forward Industries raised $1.65 billion in a private placement led by Multicoin Capital, Galaxy Digital and Jump Crypto.

Crypto treasury firm Forward Industries plans to deploy funds in Solana DeFi protocols

Galaxy Digital has also been moving millions of SOL to other addresses, mainly to custody wallets on Fireblocks.

Galaxy Digital adds $300 million worth of SOL via Coinbase, Binance: onchain data

On Sept. 14, solana reached its highest price in nearly eight months, breaching the $250 mark and pushing its market capitalization over $133 billion. Analysts Eye Further Gains for SOL Solana ( SOL) breached the $250 mark on Sept.

Analysts Target $460 as Solana Breaks out of Bullish Triangle

Solana infrastructure firm SOL Strategies is embracing being an underdog among publicly traded crypto firms and digital asset treasuries.

Solana Firm SOL Strategies Hits the Nasdaq: 'Being Underestimated Is an Advantage', Says CEO

Price analysis by Coinidol.com: The Solana price is rising and approaching the previous high of $260.

Solana Price Rises And Remains Below $245

Coinidol.com reports: On-chain data reveals that the FTX estate, in a move to pay back creditors, has redeemed $45 million worth of SOL from staking.

FTX Estate And Corporate Giants Signal A New "Solana Season"

Fitness creator Bradley Martyn slapped a Solana meme coin dev and made him $49,000 worth of crypto—here's how it happened.

Streamer Gets Slapped by Gym Influencer Bradley Martyn, Pumping Solana Token

Solana hit its highest price since January on Friday, following massive Galaxy buys likely tied to a treasury firm.

Solana Surges Again as Galaxy Digital Buys Over $700 Million in SOL

Bonk

According to pseudonymous millionaire meme coin trader Unipcs, the crypto industry is buzzing with catalysts, from the upcoming Dogecoin (CRYPTO: DOGE) ETF to expectations of rate cuts—yet the highest-potential meme coin is being overlooked. What Happened: In a recent X post, Unipcs noted that Bonk (CRYPTO: BONK) has broken out of a multi-month descending wedge with strong volume, a structure that often precedes parabolic rallies.

Millionaire Trader Preferfs Dogecoin, Solana ETFs Over XRP As Main Catalysts For This 'Explosive' Meme Coin

Solana hit $241 on Friday, the highest price seen since January, following Forward Industries' $1.65 billion institutional investment deal.

News for Solana Crypto (SOL)