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 Hits New Record High as Layer 1 Tokens Follow Bitcoin’s Gains

Momentum has been building after bitcoin hit an all-time high last week.

By Muyao ShenOct 25, 2021

Solana hit new record high prices on Monday. Credit: Kurt Cotoaga/Unsplash

Markets

Crypto Fund Inflows Hit Record $1.5B as Bitcoin Futures ETFs Go Live

Bitcoin dominated this week’s inflows, with a 99% share. Last week, bitcoin’s weekly inflows were at $70 million.

By Lyllah LedesmaOct 25, 2021

Finance

Solana-Based DeFi Protocol Synchrony Raises $4.2M for Composable Indices

The funding, led by by Sanctor Capital, Wintermute Trading and GBV Capital, will also go toward its marketing operations.

By Sebastian SinclairOct 21, 2021

Synchronized swimmers, Copenhagen, Denmark. (Henrik Sorensen/Getty Images)

Finance

DraftKings Founders Back ‘Play-to-Earn’ Soccer Game With $3M Raise

MonkeyBall, a self-described mashup of “FIFA Street” and “Final Fantasy,” will run on the Solana blockchain.

By Eli TanOct 21, 2021

Solana-based MonkeyBall is bringing soccer to the world of GameFi. (MonkeyBall)

Finance

The First ‘Move-to-Earn’ NFT Game Raises $8.3M

With funding from Konvoy Ventures and Pantera Capital, the Solana-based Genopets is merging meatspace and the metaverse.

By Eli TanOct 18, 2021

Videos

FTX.US President on Launching Collectibles Arm in Boost to Solana-Based NFTs

FTX.US, the U.S. wing of Sam Bankman-Fried’s crypto empire, announced its new marketplace, FTX NFTs, will allow users to trade, mint, auction and authenticate Solana-based NFTs. It plans to support other blockchains in the future, including Ethereum. FTX.US President Brett Harrison shares news regarding the launch and insights into the booming NFT market. Plus, reactions to the reported SEC decision to allow bitcoin futures ETFs.

Oct 15, 2021

Tech

Solana’s Phantom Adds Safety Rails After Scammers Drain Wallets

Phantom’s security upgrades highlight the tug-and-pull between developers trying to simplify crypto’s user experience and scammers exploiting their shortcuts.

By Danny NelsonOct 13, 2021