Solana’s bitcoin ratio is closely mirroring Ethereum’s trajectory, with both experiencing initial price spikes followed by significant declines during bear markets. Currently, while ETH has entered a bear market with negative year-on-year returns, SOL’s performance remains stagnant, suggesting it may follow ETH’s path if market conditions improve.
about Solana's Bitcoin Ratio Mirrors Ethereum's Trajectory Amid Market ChallengesDavid Canellis
0 posts last weekSolana Faces Market Struggles Amid Memecoin Manipulation Scandal
The crypto market is struggling to distinguish Solana from manipulated memecoins following the LIBRA debacle, which led to an 18% drop in SOL’s value. Despite some recovery, SOL’s market cap now stands at $83.4 billion, significantly lower than before, as the market groups it with the memecoin complex. Meanwhile, Jupiter, linked to both LIBRA and Solana, has also seen a 24% decline, raising questions about potential insider trading despite the team’s denial.
about Solana Faces Market Struggles Amid Memecoin Manipulation ScandalPump.fun Launches Mobile App Amid Challenges and Memecoin Enthusiasm
Pump.fun, a Solana memecoin launchpad, has released its first mobile app, marking a significant update since disabling livestreams in November. While the app offers a smooth onboarding process, users are experiencing challenges with transaction execution, reflected in its low ratings on app stores. Despite a drop in daily token launches, the platform has generated approximately $548 million in revenue since its inception, indicating potential for future growth if transaction issues are resolved.
about Pump.fun Launches Mobile App Amid Challenges and Memecoin EnthusiasmEthereum’s Resilience Amidst Market Comparisons and Competitor Gains
Ethereum faces skepticism as its price lags behind competitors like Solana and XRP, which have seen significant gains. However, this underperformance may be attributed to the relative size of these assets, as smaller coins can experience larger price movements with less capital. The ongoing evolution of the crypto market suggests that Ethereum’s position remains strong despite concerns about its future relevance.
about Ethereum's Resilience Amidst Market Comparisons and Competitor GainsMoonPay Acquires Helio to Enhance Crypto Payment Services
MoonPay has acquired Solana payments startup Helio in an all-equity deal valued at $175 million, with Helio’s entire team joining MoonPay. This move aims to enhance MoonPay’s offerings beyond crypto buying and selling, focusing on e-commerce and on-chain payments. The acquisition reflects a growing interest in crypto payment solutions, despite the sector’s challenges in mainstream adoption.
about MoonPay Acquires Helio to Enhance Crypto Payment ServicesTop Solana Protocols by Fees in 2024 Analysis
In 2024, Solana’s top protocols by fees showcased a significant surge driven by memecoins. Raydium led with $648 million, followed closely by Jito at $633 million, while PUMP.FUN and Photon generated $308 million and $248 million, respectively. Other notable mentions include BLOXROUTE, Trojan, and Marinade, each contributing substantial fees to the ecosystem.
about Top Solana Protocols by Fees in 2024 Analysis