Tag Archives: solana

Silicon Valley venture capital firm, Sequoia is betting big on the leading Solana NFT marketplace – Market Eden. OpenSea happens to be the leader in the NFT space, however, its dominance appears to be dwindling. There are now newer platforms backed by some of the biggest investors that may have been contributing to this trend. Magic Eden’s $27 Million Funding Round According to the latest reports, Magic Eden is set to announce $27 million in Series A. Leading the round is...

Non-fungible tokens (NFTs) became particularly popular in 2021, and the trend continues, albeit a bit slower, in 2022. Users flock to create, sell, and collect various NFTs for many reasons. Some of them like the art, others are trying to speculate on their value, third are used as a part of a blockchain-based game, and so forth. Whatever the reason might be – it appears that NFTs are here to stay. Naturally, Ethereum emerged as the dominant network for their creation, and...

Kevin O’Leary said he has allocated millions of dollars in crypto. The former critic of Bitcoin now said investing in it is like investing in giant corporations such as Google and Microsoft. 20% of His Portfolio in Crypto Back in 2019, the Canadian businessman and television personality was among the biggest critics of the crypto industry. At the time, he described bitcoin as “worthless,” “useless currency,” and even “garbage because you can’t get in and out of it in large...

The first-ever memecoin Dogecoin and Solana joined the list of cryptocurrencies that people can donate to the Ukrainian government. Until now, the nation received contributions in Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Tether (USDT). Mykhailo Fedorov – Vice PM and Minister of Digital Transformation of Ukraine – revealed that people could now support the country’s defense by making Dogecoin and Solana donations. In his most recent tweet, he even asked Elon Musk...

Tokenized assets and rare digital collectibles are raking in billions of dollars across NFT marketplaces, and everyone, including celebrities and top-notch artists, is looking for ways to take part in the craze. There are many platforms built on different blockchains that allow you to buy and sell non-fungible tokens. But before delving into the list of the top 10 best NFT marketplaces, let’s quickly look at the meaning of NFT and why there is a need for many NFT trading...

The multi-day music and arts festival held in California – Coachella – partnered with the crypto exchange FTX to introduce non-fungible token (NFT) collections to fans. The digital collectibles are built on the Solana network. NFTs for The Music Fans The Coachella Valley Music & Arts Festival, postponed in 2020 and 2021 due to the COVID-19 pandemic, is set to return this April. To provide fans with more opportunities on its comeback, it introduced a series of non-fungible...

Wormhole Bridge is back up with developers claiming that all funds are restored following the $320 million hack. Wormhole, a cross-chain bridge from Solana to other networks, suffered a major breach on Wednesday. Hackers managed to take control of 120,000 wrapped Ether worth $320 million. The breach impacted all users that held Ethereum tokens (wETH) on the Solana blockchain. Shortly after the attack, Wormhole updated its users on the situation. They also said that they...

Solana ecosystem wallet, Phantom, has recently raised $109 million in a Series B funding round led by the crypto venture capital firm, Paradigm. Phantom Hits $1.2 Billion Valuation With the latest cash injection, Phantom has now attained the status of a crypto unicorn firm, as the funding brings its market value to $1.2 billion. In an official blog post published on Monday, Phantom noted that the funds raised will be used to improve the wallet’s technical capabilities. These...

Despite the multiple outages that the Solana network suffered in recent months, FTX CEO Sam Bankman-Fried (SBF) believes the high-performance blockchain is still better than other networks in the industry. The latest Solana network outage happened on Friday and lasted for more than 48 hours, causing DeFi users who borrowed funds from lending platforms to suffer forced liquidation. According to Solana’s team, Friday’s incident resulted from “excessive duplicate transactions”...

While the crypto market was bleeding heavily on Friday, Solana experienced another network hiccup that caused panic among traders and DeFi users across the crypto community. 48-hour Solana Network Outage The Solana network has suffered multiple issues within the last few months, and this current incident is the second in January. But unlike other occasions, the latest outage lasted about 48 hours. The Solana team said they first noticed the hiccup on Friday, January 21 2022,...