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

Even Small-Time Jito Airdroppers Are Getting Thousands of Dollars in JTO Tokens

The governance token was airdropped to users of Jito's liquid staking token protocol.

By Danny NelsonDec 7, 2023

Arbitrum airdrop goes live. (Pexel/Pixabay)

Tech

Future of Solana's Hyped Saga Phone Is 'Under Internal Discussion' as Sales Figures Fail to Wow

Yakovenko emphasizes the importance of reaching a user base of 25-50K to sustain the Solana phone's development in an interview with Laura Shin.

By Sam ReynoldsDec 7, 2023

The Saga smartphone. (Danny Nelson/CoinDesk)

Finance

DeFi Market Rebounds to $50B as Speculators Hunt for Yield

An uptick across Solana-based protocols coupled with more than $700 million in deposits to Blast has fueled growth of the value locked in decentralized finance.

By Oliver KnightDec 5, 2023

Consensus Magazine

Anatoly Yakovenko and Solana Bounce Back

With a rocketing token and tech improvements on the horizon, the Solana community – rallied by industry champion Anatoly Yakovenko – defied the odds of defeat.

By Danny NelsonDec 4, 2023

Markets

Solana Leads Layer-1 Token Gains as Bitcoin Crosses $38K

Crypto market capitalization rose 2.3% in the past 24 hours.

By Shaurya MalwaNov 29, 2023

Bitcoin broke above the $38,000 mark early Wednesday. (CoinDesk)

Markets

Tokens In SEC's CrossHairs Are Posting Double Digit Year-To-Date Returns

The Securities and Exchange Commission is doubling down on its allegations that certain crypto assets are securities. These allegations haven't dampened investor enthusiasm for most of the tokens.

By Sam ReynoldsNov 21, 2023

Securities Exchange Commission Chair Gary Gensler has a skewed view of what constitutes an investment contract, Polymesh's Graeme Moore writes. (SEC, modified by CoinDesk)

Finance

Solana's Latest Block Explorer Shoots for Simplicity

The team behind SolanaFM says its overhauled service already has 53,000 signups.

By Danny NelsonNov 20, 2023

Quantum block explorer (Danny Nelson/CoinDesk)

Finance

Solana-Based Stablecoin Remittances Get a Boost with CFX Labs' Fresh $9.5M Fundraise to Expand Globally

Remittances are one of the most compelling use cases for stablecoins, offering fast, non-stop settlements and cheap transactions using blockchains as payment rail.

By Krisztian SandorNov 15, 2023

CFX Labs' payment network, MoveMoney (CFX Labs)

Markets

Solana’s SOL Jumps 20% as Investors Turn Bullish, Fears of FTX Sales Wane

The tokens crossed $63, reaching a level previously seen in May 2022. Trading volumes spiked to over $3.5 billion, up more than 70% from average levels of $2 billion each day at the start of November.

By Shaurya MalwaNov 15, 2023