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.

Videos

Solana’s Top NFT Projects Move to Ethereum, Polygon

DeGods and Y00ts, two of the top Solana non-fungible token (NFT) projects, confirmed to be leaving the Solana network for Ethereum and Polygon after months of speculation. "The Hash" panel discusses the migration and the implications for the blockchain ecosystem at large.

Dec 27, 2022

Finance

Solana DeFi Project Mercurial to Relaunch as 'Meteora,' Replace MER Token

Mercurial is the latest to move away from FTX's shadow.

By Danny NelsonDec 27, 2022

Scenes from Solana's Miami Hacker House in April 2022 (Danny Nelson/CoinDesk)

Web3

Solana’s Top NFT Projects DeGods and Y00ts to Migrate Chains

DeGods will go to Ethereum, while its sister project, Y00ts, will move to Polygon with a grant from the layer 2's partnership fund.

By Eli TanDec 26, 2022

(DeGods via Magic Eden, modified by CoinDesk)

Finance

Crypto Trading Protocol Drift Relaunches Into Rocky Solana DeFi Landscape

The derivatives trader is back after an eight-month hiatus.

By Danny NelsonDec 19, 2022

Finance

Solana-Based Raydium Exchange Victim of 7-Figure Exploit

Currently, about $2 million of different cryptocurrencies are sitting in the attacker’s account.

By Sam KesslerDec 16, 2022

Web3

NFT Marketplace Magic Eden Rolls Out Rewards Program

After re-enforcing royalties earlier this month, the marketplace will reward users for trading NFTs on the marketplace.

By Cam ThompsonDec 14, 2022

Magic Eden (Screenshot modified by CoinDesk)

Videos

Polygon Studios CEO on Solana, Investment in Space

Polygon Studios CEO Ryan Wyatt, who is one of CoinDesk's Most Influential 2022, weighs in on Solana. "This space is really fragile and really nascent," he says. But, he explains why he is bullish about a multi-chain future.

Dec 9, 2022

Tech

DeFi Project Mercurial Plots Revamp and New Tokens Following 'Toxic' Association With FTX

Mercurial would launch some of its popular products as a separate project under the name Meteora.

By Shaurya MalwaDec 7, 2022

Piggy bank bent forward change money coins (Andre Taissin/Unsplash, modified by CoinDesk)

Consensus Magazine

Crypto Developers Reveal the Perils of Anonymity

The total value locked on the Solana network reached billions of dollars, based in part on sham protocols by two brothers working under multiple aliases. For showing how divorced TVL can be from the truth, Ian and Dylan Macalinao share a spot on CoinDesk’s Most Influential 2022.

By Danny NelsonDec 5, 2022

Ian and Dylan Macalinao (Will Ess for Pixelmind.ai/CoinDesk)

Markets

Crypto's Ugly November Draws to Close With ‘Sam Coins’ in Gutter, Bitcoin Down 18%

The FTT token, along with Serum's SRM and Solana's SOL, plunged amid the dramatic collapse of Sam Bankman-Fried's FTX exchange. Bitcoin had its worst loss in five months.

By Jocelyn YangNov 30, 2022