Solana News

Solana (SOL) was launched in 2020 by Anatoly Yakovenko as a high-performance blockchain designed to support thousands of transactions per second through its innovative Proof of History consensus mechanism combined with Proof of Stake. Built to compete directly with Ethereum, Solana offers developers fast transaction speeds and low fees, making it attractive for DeFi applications, NFT marketplaces, and Web3 gaming platforms.

The Solana ecosystem has rapidly expanded to include major DeFi protocols like Serum and Raydium, popular NFT collections, and gaming projects that leverage the network's speed and cost advantages. Despite experiencing several network outages that raised questions about decentralization and stability, Solana has maintained strong developer activity and institutional backing, with SOL serving as both a utility token for transaction fees and a staking asset for network security.

At CoinDesk, we cover comprehensive Solana news from protocol developments and network performance to the thriving NFT and DeFi ecosystems built on the platform. Our reporting tracks Solana's technical improvements, major partnerships, institutional adoption, and the ongoing efforts to address network reliability concerns while maintaining its competitive edge.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person.

Markets

Solana's SOL Tumbles 10% After $326M Wormhole Exploit

The crypto fell 10% in the past 24 hours, trading at $98 during Asian afternoon hours.

By Shaurya MalwaFeb 3, 2022, 3:17 a.m. ET

SOL briefly fell below resistance. (TradingView)

Tech

Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $326M

The popular bridge for connecting Ethereum, Solana and more is now attempting to negotiate on-chain with the hacker.

By Andrew ThurmanFeb 2, 2022, 4:30 p.m. ET

Videos

Coachella Music Festival to Launch Solana NFTs in Deal With FTX

As part of a partnership with crypto exchange FTX, the Coachella Valley Music & Arts Festival, set to return this April after a two-year hiatus, has announced a series of non-fungible tokens (NFTs) offering on-site perks and VIP access to the event. "The Hash" team discusses the latest move signaling NFTs taking off in the music industry and bringing mainstream blockchain awareness to the masses.

Feb 2, 2022, 3:11 p.m. ET

Podcasts

Crypto News Roundup for Feb. 2, 2022

By Adrian Blust, Adam B. LevineFeb 2, 2022, 12:25 p.m. ET

Weekend Story | The Short-Sightedness of Run-Amok Regulators

Markets

Market Wrap: Cryptos Stabilize, Analysts Expect Bitcoin Short Squeeze

Buyers are starting to return on price dips as altcoins outperform.

By Damanick Dantes, Angelique ChenFeb 1, 2022, 4:35 p.m. ET

Finance

PsyOptions Acquires Tap Finance for Undisclosed Sum

Two projects become one as a Solana options shop looks to expand its offerings.

By Danny NelsonFeb 1, 2022, 11:00 a.m. ET

Finance

‘Pay’ Product Looks to Boost Stablecoin Payments on Solana

Can Solana Labs’ open-source payment plug-in pick up where the Bitcoin white paper left off?

By Danny NelsonFeb 1, 2022, 9:00 a.m. ET

Markets

SOL Surges 17% After Coinbase Lists Two Solana Ecosystem Tokens

The crypto exchange listed the tokens of two major projects building on the Solana network for the first time.

By Shaurya MalwaFeb 1, 2022, 1:25 a.m. ET

SOL broke above the $100 level on Monday night. (TradingView)

Finance

Coinbase Lists Solana-Based Project Tokens for First Time

The listing of non-Ethereum ORCA and FIDA confirms a CoinDesk scoop.

By Danny NelsonJan 31, 2022, 4:01 p.m. ET

Coinbase share were rallying Friday. (Photo illustration by Leon Neal/Getty Images)

Videos

Solana Wallet Phantom Raises $109M to Rival MetaMask

Phantom, the company building Solana’s top crypto wallet, is now worth $1.2 billion following a $109 million Series B raise led by crypto venture firm Paradigm. This comes as Phantom debuted its iOS app Monday, all part of a move to compete with Metamask, the popular wallet owned by ConsenSys. "The Hash" panel discusses what this means for Solana-based decentralized finance.

Jan 31, 2022, 2:45 p.m. ET