Amidst recent network updates, Solana [SOL] introduces token extensions, providing developers access to unique use cases. These extensions, totaling 13, include governance for Real World Assets (RWAs) and stablecoin development.
Solana's token extension, a program allowing the creation of both fungible and non-fungible tokens, presents opportunities for innovative use cases. Developers can now explore governance for Real World Assets (RWAs) and delve into stablecoin development.
Anatoly Yakovenko, CEO and co-founder, sees potential in building via token extensions. Notable crypto names are already deploying, showcasing early promise.
Development activity, a crucial metric measured on public GitHub repositories, surged from 1.35 to 1.88 in the last five days. This increase signifies active deployment of new features, reflecting commitment to enhancing the network.
Following the public announcement, SOL's price witnessed a 3.80% gain, reaching $87.87. This positive trajectory aligns with the increased development activity, indicating market confidence.
Solana aims not only for token deployment but also to onboard prominent firms. Collaborations with Visa, Google, and Shopify hint at broader integration and adoption.
Head of Payments at Solana Foundation, Sheraz Shere, emphasizes that token extensions broaden possibilities for enterprise blockchain adoption. Native enabling of features crucial for large regulated enterprises is a key focus.
The token extension feature could pave the way for new cryptocurrencies on Solana. Market participants may witness a surge in projects backed by the Solana blockchain in the coming months.
Solana's Total Value Locked (TVL) experienced a 21.30% decrease in the last 30 days, currently standing at $1.34 billion. While TVL decline may raise concerns, Solana's track record suggests resilience.
Despite a TVL drawdown, Solana has demonstrated longevity in the market. The blockchain's revival from a 2022 decline to a promising 2023 positions it as a resilient player.
As Solana enters 2024, its ability to sustain momentum hinges on further development. Market observers anticipate whether the positive trends of the past year will persist.
While Solana showcases promising developments, it's crucial to note that challenges may arise. The cryptocurrency market is dynamic, and future success depends on continuous innovation and adaptation.
Solana CEO Vibhu Norby declares end of congestion, emphasizing platform's growth to 160,000 DAUs and 500,000 onboarded in five months. Swift response with scaling solutions, now focusing on scalability and user engagement for improved satisfaction.
Huang BoSolana doesn’t have to go the Proposer-Builder Separation (PBS) route chosen by Ethereum, but it will need to take a comprehensive approach to stabilize its fee market in the long term.
JinseFinanceSolana's latest update targets network congestion, enhancing its appeal as a faster and cheaper alternative to Ethereum. Despite challenges like occasional outages, Solana's recent price recovery to $154 suggests ongoing investor interest.
Huang BoSolana's v1.17.31 update aims to ease network congestion, requiring validators to upgrade only when inactive stake is under 5%.
Cheng YuanI am not worried at all about the recent weakness of the Inscription Ecosystem. When the market truly enters a bull market, the rotation of sectors will definitely come.
JinseFinanceA meme coin that coincides with the right time, place, and people will definitely leave a lasting memory and long-lasting value in the crypto world.
JinseFinanceBinance's latest move to expand its trading pairs has sparked positive price movements for listed tokens. However, the removal of assets from the exchange has historically led to significant declines in asset valuations, illustrating the potential risks associated with such actions.
Sanya
SlowMistThe current estimated time for the Ethereum Merge is 2022-09-15 at 01:30 (UTC).
OthersMicrosoft CEO Satya Nadella said: “The Metaverse allows us to embed computing in the real world, and the real world in computing. Bringing a sense of real presence to any digital realm.”
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