Top 5 Tokens To Purchase On Solana in 2022

Over the last few years, Bitcoin has continued to set the pace for the tokens in the market. This is noticeable as most of these tokens mirror the performance of Bitcoin. Although the market has been sloppy in the past few weeks, there has been a little bit of comfort for a while. But while we know about Bitcoin, there are other tokens on other blockchains bringing the heat in the sector. One such blockchain is Solana, with its tokens seeing massive followership in previous weeks. In this article, we will be looking at the top 5 tokens housed on the Solana blockchain.

What is Solana?

Solana is a blockchain specifically designed to house decentralized applications or dApps. It was created in 2017 and is currently being run by the Solana Foundation. The foundation has an office in Geneva. However, the blockchain was built by the San Francisco arm of the company. A few of the perks of using Solana include its lower transaction fees and faster transaction completion rate. The blockchain also houses its native token, Solana, which is used to carry out the majority of the transactions on the blockchain. Asides from Solana, other tokens are on the blockchain.

How does Solana work?

Unlike most blockchains, the developer of Solana, Anatoly Yalovenko, created it to thrive on a Proof of History concept. Proof of history allows the verification of time between different events. This allows it to access the ledger by using it to encode a trustless passage. In the Solana Whitepaper, the developer realized that most of the nodes on the blockchain used their own time to carry out transactions. This means that if a node rejects a message, the other participants would not have access to it immediately. With the Proof of History, every node records a trustless passage of time in the ledger in real-time. Aside from the PoH, Solana also uses Proof of Stake to validate transactions. After the PoS validates the transaction, PoH stamps a time and verifies it.

Top 5 tokens on Solana Blockchain

Now that we know what Solana is and how it works, the next step is to look at some of the tokens on the blockchain. Below are the top 5 tokens on the Solana blockchain;

USDT

Tether or USDT is a stablecoin on par with the United States dollar in terms of price. This means that the asset’s price is stable and mirrors the dollar on a 1:1 basis. Also, this means that the token would always be worth $1 no matter how much the token is bought or sold. It was officially launched in 2014 by a Hong Kong-based company. It was also created to function only on the Bitcoin network but has been updated to work on other blockchains. As mentioned above, USDT is reading at $1 with its trading volume around $36,873,450,193. It has a market cap of $77,944,723,464 and a current supply of 77,908,751,039 USDT.

Solana

Solana is the native token of the Solana blockchain. The token is passed to the nodes, allowing the system to run programs on the chain. Solana is also used on the blockchain to make small payments described as Lamport’s. Solana is presently trading at $112 with a trading volume of $1,462,200,716. It has a market cap of $35,730,189,778 and a current supply of 316,711,536 SOL tokens.

LUNA

Terraform Labs created LUNA in 2018. Two South Korean developers created the token. LUNA acts as the native token on the Terra blockchain. It is used to carry out most of the activities on the platform. LUNA is trading at $54.18, seeing a small decline of 2.24% in the last 24 hours. The token has a market cap of $21,722,143,761 and a circulating supply of 400,919,660 LUNA tokens.

Chainlink was created in 2017 to connect one or more smart contracts. It enables different blockchains to have access and interact with external information, among other things. Its native token is the LINK, which is used to carry out transactions across the blockchain. Chainlink is presently trading around $176, seeing a decline of 0.60% in the last 24 hours. The token holds a market cap of $8,230,918,509 with a trading volume of $487,852,279. The current amount of LINK token supply is 467,009,560.

The Graph

The Graph is a protocol that works as an index used in querying data. It is used to power applications across the DeFi sector. Besides that, it also provides the same service to platforms in Web3. Its developers are concerned with bringing decentralized platforms to the mainstream participants. The Graph is presently trading at $0.45 with a trading volume of $60,082,365. It has a market cap of $2,164,522,635 and a supply of 4,715,735,200 GRT tokens.

Conclusion

Choosing tokens to trade in the market is one of the hardest things. This is because you need to carry out a great deal of research into these tokens. Besides that, you will need to pick tokens that go with your trading strategy. However, it would be best to diversify your portfolio in case of a full market fall.

Solana pumps
Solana pumps© Cryptoticker

The post Top 5 Tokens To Purchase On Solana in 2022 appeared first on CryptoTicker.

Coachella Music and Arts Festival Partners With FTX US to Issue Solana-Based NFTs

Coachella Music and Arts Festival Partners With FTX US to Issue Solana-Based NFTsThe Coachella Valley Music and Arts Festival is stepping into non-fungible token (NFT) technology space, according to the festival’s official Twitter account. Coachella partnered with the crypto exchange FTX US, and the NFTs are minted on the Solana blockchain. Coachella Partners With FTX US to Mint Solana-Based Digital Collectibles Since 1999, the festival co-founded by […]

Solana Price Prediction – After a Great Rise, Now the Downhill?

The Solana price is forming a head-and-shoulders formation. The only thing missing prior to the current crash was the right shoulder. From this perspective, it was natural that the price could rally a bit to form the right shoulder in the near future. However, this did not happen. Solana price was able to stay in the $127 – $133 support zone for a little longer. But in the past 24 hours, the support level was broken, as the entire cryptocurrency market crashed. What does this mean for the Solana price and what drove the Solana price crash? What are the next goals? Let’s analyze Solana!

Solana Price Crash – Key Support Broken!

Solana price had formed a support zone between $127 and $133. However, this zone was broken overnight, which is why analysts are bearish on the Solana price in the short-term as well as in the long-term. Technical analysts expect the price to drop even more in the near future to correct the extreme rise in the last bull run. While the Solana price could rally again to confirm the former $127 – $133 support zone as a resistance area, it does not change the macro view on the price.

—–> Click here to Buy Solana <—–

Solana price crash - SOL/USD 1-day chart showing the Head and Shoulders of SOL
Fig.1 SOL/USD 1-day chart showing the Head and Shoulders of SOL – TradingView

THIS is where Solana Price will Correct towards

The first target of the Solana price is between $66 and $80. That is where the next support zone is. The price could stay in this area for a while and possibly also correct something upwards. After that, we expect another sell-off to $40. There lies the closest support that could be tested.

Solana price crash - SOL/USD 1-day chart showing the potential further retracement
Fig.2 SOL/USD 1-day chart showing the potential further retracement – TradingView

If we reach $40 it would mean a correction of around 84% (from the all-time high). Such sharp corrections are common in altcoin bear markets, which is why we see it as not unlikely for the price to drop to $40.

Solana pumps
Solana pumps© Cryptoticker

The post Solana Price Prediction – After a Great Rise, Now the Downhill? appeared first on CryptoTicker.

Why Solana Is A Good Bet In 2022?

Collecting something unique to sell for a premium has existed for a long time. But, it was the blockchain technology that made it grand or mainstream via NFTs. Despite that fact, some of the ecosystems have struggled with their shortcomings. Let’s take a quick example to explain this in detail. People are so fond of collecting memorabilia. It is an ever-growing trend these days. Now think about the situation where you end up getting rekt for no reason whatsoever for keeping up with this practice. In case, if you are not aware of the pitfall of high gas fees blockchain ecosystems, let’s sink in deep through this incidence to understand the obstruction disrupting global mainstream adoption.

A group of community normies wanted to buy a copy of the US constitution. For this purpose, they called all 17,000 people interested to form a syndicate.  They named the syndicate  ConstitutionDAO to raise funding for the auction. To no surprise, they were able to raise $40 million which was locked in the bidding smart-contract. Much to their disappointment, the bid failed. Consequences, $1 million in gas fees to retrieve the funds from the bidding smart-contract. 

Isn’t it harrowing to think that you have to pay $1 million to get your own funds from a locked-in smart-contract. So, it is self-explanatory why the Ethereum network saw significant users drop out and switch to other smart-contract blockchains. With the NFT and metaverse craze reaching its pinnacle, everyone wants to stack cash by collecting and bidding them at an auction. But the only challenge is that the existing Ethereum blockchain can make them go broke. The solution the community seeks is a cost-effective, scalable, and simple blockchain ecosystem. That’s where Solana is making a difference. 

—-> Click here to Buy SOL <—-

What is Solana Blockchain? 

Solana is a decentralized blockchain founded in 2017 and run by the Solana Foundation. It can process more transactions than its counterpart smart contract blockchain like Ethereum, Polkadot, and EOS. As a result, the value of the SOL token appreciated by 12,000% in 2021. On top of this, Solana is a preferred choice for hosting NFT projects. At the moment, 120 out of 423 NFT projects are hosted on the Solana blockchain.

How can it Solve the Scalability Issues?

Solana uses POH or Proof of History consensus mechanism in place of layer 2’s or side-chains to solve scalability issues. As a result, the time between transactions is shorter and throughput significant. In the POH consensus model, all nodes run their own internal clock. Once all are in coordination, the state of blockchain can get verified at a faster rate.

As POH captures screenshots and shares as per the last phased time, it becomes more cost-effective and fast in comparison to POS and POW blockchains. To make the ecosystem safe and scalable for adoption, the blockchain uses the Verifiable Delay Function(VDF). In a VDF model, the cryptographic functions identify time passed with that of the output generated. Hence the output generated should always be at a later time than input queried. Thus making the ecosystem safe, secure, and scalable.

Solana 2022 – What Does the Community Think About It?

The founder of Solana,  Anatoly Yokavenko, thinks that transitioning to POS is a good idea for other blockchains in the space to drive global adoption. Despite this fact, one cannot say that POS addresses all challenges of blockchain. For example, POS solves scalability issues but at the cost of security to an extent. To prove this point, think of high-value miners and bots taking control of the ecosystem. With the Solana blockchain, such a scenario is highly likely, but lately, Solana has seen network outages pressing the panic button.

Despite this, one cannot rule out that Solana is pretty new and it has a lot of catching to do as per the founder. Having said that, Solana with the sole aim to build an open, fair, and censorship-resistant marketplace could go way deeper with time as per the community. At the moment, Solana has $12 billion and with more than 400 projects and counting, as it will reach mainstream and solve all existing bottlenecks in its ecosystem, Solana could be poised for a global level adoption in the near future.

Why Solana Prices Fell and Will It Recover Anytime Soon?

Solana had gotten weighed down by its own success. It was the network outage of 17 hours to blame for a sharp decline in its prices. In the first phase between February to September, we did see a tremendous jump of more than 12,000% which is simply unprecedented. However, much of the jump was attributable to massive stimulus packages of the government and most of that money moving to crypto.

Solana 2022 chart showing the strong support level being tested.

Under the pressure of the US dollar losing its value following the stimulus packages, investors switched to crypto assets during the peak time of the Coronavirus pandemic. As you can see in the charts from August to October, the green candles are forming with higher highs and lower lows denoting a bull cycle ahead. But unlike the past trends, it is highly unlikely that fresh stimulus packages will happen in 2022.  So, most likely for the return of bullish momentum, SOL must have to form support at $125 level to $130$ within the first quarter of 2022. If the prices do not fall further below the $125 mark and sustain the support at the $150 level till the first quarter of 2022, we could see upside ahead. 

The reason for the same would be FED is compelled to buy back bonds from March onwards.  If that happens, we can see further upside ahead to the $175 mark. The support would be further tested at the $200 mark since it was the highest point in the 20 day MA of December as shown in the image below. If that happens, we could very well see Solana trading at its new ATH of $275 by the end of the year 2022. However, if all the claims as demonstrated through the chart fail to keep up, we could see the downside and Solana might fall to as low as $70 or $80 by 2022.

Solana 2022 - SOL 3-months trend is bearish.

We hope by now you have got all the information about Solana. Moreover, it is always good to buy these tokens from reliable cryptocurrency exchanges and use cold wallets to store them keeping security in mind. 

Solana pumps
Solana pumps© Cryptoticker

The post Why Solana Is A Good Bet In 2022? appeared first on CryptoTicker.

Here are 5 EXCITING Metaverse Tokens on Solana Blockchain

The Solana ecosystem caused quite a stir in 2021. In addition to DeFi and NFTs, Metaversum tokens are now also being built on the fast Solana blockchain. Let’s talk about 5 exciting Metaverse tokens and their projects that are currently running on the Solana Blockchain.

#1 Solice (SLC)

Solice is a VR metaverse built on the Solana blockchain. It is very similar to popular metaverses like Decentraland and The Sandbox. Players can explore the 3D metaverse and purchase land. Most recently, Solice raised $ 4.3 million in venture capital. So far, SLC does not have a market cap, but it is an extremely exciting metaverse project on Solana.

#2 Synergy Land (SNG)

Synergy Land is multiplayer ARPG game, which was built on the Solana blockchain and developed by Synergy Studio. According to the developers, the game will contain the modes Player vs Player, Player vs AI and raising digital pets. The game uses the Unreal Engine. Synergy Land has not yet had a market cap either. Nevertheless, the metaverse should be able to be played on the Solana blockchain soon.

#3 Afflarium (AFFL)

Afflarium is a multiplayer metaverse game based on the Solana blockchain. In the game, players should search for SOL tokens and assets in the form of NFTs and fight for them with other players. The AFFL token is the governance token built on the Solana blockchain. The AFFL is also not yet available on stock exchanges.

#4 Good Games Guild (GGG) 

Good Games Guild wants to become a gaming hub that wants to become one of the largest metaverse ecosystems in the future. The features of GGG should include play-to-earn games, rent-to-earn NFTs and stake-to-earn tokens. At the moment, the price of the GGG token is at $ 6.36. The market cap is $ 8,100,000.

#5 Star Atlas (ATLAS)

Star Atlas is the “star” among these Solana Metaversum Games. The game is about exploring a virtual space. There, players can build spaceships and upgrade them. After that, they can explore new planets and stars. Star Atlas chose Solana as the protocol to build its multi-layer metaverse. Star Atlas now has a market cap of $ 230 million.

You can purchase the SOL Token from the Solana Blockchain on  Binance ,  Coinbase ,  Kraken  and  Bitfinex.

If you don’t want to miss any news from the crypto world, then be sure to subscribe to our premium area!

how to use ledger plus metamask
how to use ledger plus metamask© Cryptoticker

The post Here are 5 EXCITING Metaverse Tokens on Solana Blockchain appeared first on CryptoTicker.

Solana hit with another network incident causing degraded performance

Solana reportedly went offline for four hours on Jan. 4, however Solana.Status shows there have been no issues on the network.

The Solana blockchain has suffered a third incident in just a few months that clogged the network and caused transactions to fail, with users debating whether it was caused by another DDos attack or if it was just network issues.

The scale and nature of the incident is hard to ascertain, with Coinbase, Wu Blockchain and Redditors reporting there had been an incident causing the network to slow and transactions to fail. However Solana Labs co-founder Anatoly Yakovenko denied there had been a DDoS on this occasion.

The latest incident comes less than a month after a previous attack which saw reports the network was clogged with mass botting due to another Initial DEX offering (IDO) on Solana-based decentralized exchange platform Radium.

According to Wu Blockchain, the Solana network went down for around four hours in the early morning of Jan. 4 UTC time as a result of an apparent DDoS attack. Solana.Status shows the network has been fully operational with 100% uptime over that period.

A post on the r/CryptoCurrency group on Reddit yesterday also shared several screenshots of Solana (SOL) users reporting issues with failed SOL transactions around the time of the potential DDoS and network downtime. Coinbase also provided an incident report over the past 24 hours on the Solana network’s “degraded performance” that resulted in failed withdrawals of SOL on the crypto exchange.

“This is why you don’t use a service’s own status page to come to conclusions especially if it masquerades as a decentralized blockchain, but in reality is just a glorified database,” user u/Set1Less wrote.

But other users responding to the r/CryptoCurrency post in the r/Solana community questioned the validity of the claims, with “NiftyMufti” stating that:

“So instead of echoing random people’s opinions, why don’t you show the charts? A DDoS attack and downtime would have shown in the block explorers. I see no such signs. Prove me wrong. Which hours in which timezone was this supposed to have taken place?”

Solana Labs co-founder Yakovenko echoed as such on Twitter earlier today, noting that the network issues weren’t related to a DDoS, and were just the “pain of getting a new runtime commercialized.”

In a separate Twitter thread, Yakovenko also stated that the “cost model for compute is still a [little] wonky, real fix to deal with this is in 1.9, where TXs have to specify all the resources they use upfront.”

Related: Top crypto winners and losers of 2021

In an interview with Cointelegraph on Dec. 22, Austin Federa, head of communications at Solana Labs said that developers are currently working to address the network’s issues, specifically in relation to improving transaction metering.

“Solana’s runtime is a new design. It doesn’t use EVM [Ethereum Virtual Machine] and a ton of innovation was done to ensure that users have the cheapest fees possible, but there’s still work to be done on the runtime,” he said.

The post Solana hit with another network incident causing degraded performance appeared first on CoinRegWatch.

Michael Jordan and Son Reveal First Tech Venture, Heir Platform to Feature NFTs and Leverage Solana

Michael Jordan and Son Reveal First Tech Venture, Heir Platform to Feature NFTs and Leverage SolanaThe legendary former professional basketball player Michael Jordan and his son Jeffrey Jordan have revealed they are getting into blockchain and Web 3.0 technology, according to an announcement published on December 15. The father and son duo’s first tech venture is called Heir Inc., a platform that aims to connect loyal fans with popular athletes. […]