Category Archives: Solana News

The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays. Over the last 24 hours, the cryptocurrency market cap saw net inflows of around $8 billion and currently stands at $836.19 billion as of press time — up 0.98% from $828.16 billion on[Read more…]

NFT protocol Metaplex laid off staff due to to the “indirect impact” of the collapse of crypto exchange FTX. While the company said its treasury was not directly impacted and that its fundamentals remain strong, it will take a more conservative approach moving forward, CEO and co-founder Stephen Hess said on Twitter. Metaplex is an ecosystem of[Read more…]

By Q1 this year, venture capital firm Andreessen Horowitz’s (a16z) flagship crypto fund had returned almost five times for early backers, according to documents reviewed by Semafor. The firm sold a portion of its tokens right before crypto’s bear market began in May, meaning that early investors are guaranteed a successful return. The fund was launched[Read more…]

Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. The chain swap will reduce the total amount of circulating USDT on Solana, but the company said on Twitter that overall supply of the stablecoin will not change. Earlier this week, Binance suspended deposits[Read more…]

Binance has temporarily suspended deposits of tether (USDT-USD) and USD Coin (USDC-USD) stablecoins on the solana (SOL-USD) blockchain, the cryptocurrency exchange said Thursday in a blog post. It didn’t specify the reasons behind the sudden move, though it’s important to note that solana (SOL-USD) has a close connection with collapsed crypto exchange FTX. SOL tokens have dropped[Read more…]

It’s been an exhausting week for every person even remotely involved with the cryptocurrency industry. The collapse of FTX and Alameda Research has brought with it what would normally be written off as “FUD,” or fear, uncertainty, and doubt. For the first time, it’s accepted as possibly worth listening to. Exchanges are scrambling to show[Read more…]

Over the years, Jump Crypto, the crypto-specific arm of Chicago-headquartered trading firm Jump Trading, has worked alongside some of the most prominent firms and individuals in the crypto space. However, it’s also been embroiled in its fair share number of high-profile controversies. Jump’s ties to FTX Jump and FTX go way back and the relationship[Read more…]

Binance and other top crypto exchanges halted stablecoin deposits from the Solana (SOL) blockchain. The companies released an official statement claiming that the measure will be temporary, but it could have harmful implications for the SOL ecosystem.  Solana (SOL) trades at $13.5, with a 5% loss in the last 24 hours and a 3% loss in the[Read more…]

Besides the Ethereum network, users can now deposit and withdraw USD Coin on Solana and Tron, according to a Twitter post by Bill King, Growth Marketing Lead. The support for these two networks is already live. Users can easily transfer funds to their account by navigating the Funding drop-down box and selecting the network and USDC they[Read more…]

Earlier Binance halted USDC and USDT deposits on Solana but as per a recent announcement, it has resumed deposits for the USDT (SOL) token. On Thursday morning, the world’s biggest exchange, Binance, announced that deposits of USD Coin (USDC) and Tether (USDT) on the Solana blockchain “have been temporarily suspended until further notice,” causing the SOL token[Read more…]