Solana Saga sees significant price reduction, but sales have dropped since April highs
Solana Mobile has announced a price reduction of $400 for its Android-based Solana Saga, bringing the price down from $1,000 to $599. However, on-chain data compiled by Flipside Crypto shows that sales for the Solana Saga have decreased significantly since their peak in April and May, with only slightly over 2,100 unique Saga Genesis NFT owners as of July 25. <br>
Solana Launches Developer Educator Program
Solana has announced the launch of a developer educator program. Users can participate in the Solana developer seminar held on August 14th, 16th, and 17th, with the goal of teaching the next generation of web3 developers by attending the seminar. <br>
Analyst Predicts Deep Correction for Sam Altman’s Worldcoin, Updates Outlook on Solana and Two Other Altcoins
Altcoin Sherpa, a well-known analyst, has expressed bearish sentiments towards Worldcoin (WLD), the AI-based crypto project co-created by ChatGPT founder Sam Altman. The analyst predicts that WLD is likely to experience a 40% devaluation from its current price after losing the 0.618 Fibonacci level. Altcoin Sherpa also shared his thoughts on Solana (SOL), Maker (MKR), and Rollbit Coin (RLB), stating that SOL is currently in an area of interest, MKR is his favorite setup, and RLB looks primed for a rally up to its immediate resistance at $0.126.
Cypher Protocol Halts Smart Contract After $1 Million Exploit on Solana-Based Futures Exchange
Cypher Protocol, a decentralized futures exchange based on Solana, has frozen its smart contract after an estimated $1 million exploit. The team is investigating the cause of the exploit and has reached out to the hacker to negotiate a potential return of stolen funds. The wallet believed to be tied to the exploit managed to steal approximately 38,530 Solana (SOL) tokens as well as $123,184 USD Coin (USDC) — netting a total of $1,035,203 in illicitly gained funds.
Bitcoin Trades Flat With Record Low Volatility, Solana Leads Top 10 Gainers
Bitcoin remained steady above the support level of US$29,000 on Monday, with its volatility rating hitting a record low. Ether also showed little movement, while other top 10 non-stablecoin cryptocurrencies had mixed results, with Solana leading the winners. The Forkast 500 NFT index decreased slightly, while U.S. stock futures rose after last week's losses. Investors are now waiting for another busy week of corporate earnings reports and U.S. inflation data.
Cypher Protocol's Barrett Believes Success of Solana's DeFi Ecosystem Depends on New Tokens
Solana's success in making a comeback depends on new tokens from blockchain teams that have not issued them before. These tokens are crucial for increasing liquidity, trading activity, and attracting new users to the decentralized finance ecosystem. Cypher and MarginFi have contributed to Solana's growth by offering loyalty programs that reward crypto traders with "points" for participating in their respective markets. If Solana DeFi succeeds, it could return to its multibillion-dollar heights, but failure could lead to irrelevance.
Twitter Co-Founder Presses Coinbase CEO on Ignoring Bitcoin's Lightning Network
Coinbase CEO Brian Armstrong faced questioning from Twitter co-founder Jack Dorsey over his alleged disregard for Bitcoin's lightning network, a layer-2 scaling solution designed to make BTC easier to spend. Armstrong claimed that the next step for crypto was to make payments "instant and free globally" through collective work on layer 2 solutions and user onboarding. While Armstrong did not respond to Dorsey directly,
Exchange.art to Integrate Ethereum Support and Expand Multichain Platform
Exchange.art, a digital art marketplace on Solana, will soon integrate support for Ethereum, allowing over 80 Ethereum-based artists to sell their work on the platform. The integration will go live on August 1st. Exchange.art aims to be a hub for digital art and expand beyond Solana, with plans to onboard new creators and collectors. The platform has already onboarded 16,000 Solana-based artists and introduced a royalties protection standard to help creators earn a consistent percentage across marketplaces.
Liquidity Layer Project on Solana (SOL) Surges 63% as New DApps Roll Out
The HXRO liquidity layer project, which is built on Solana (SOL), has experienced a surge of over 63% in the past week due to the increasing number of decentralized apps (DApps) being powered by its ecosystem. Despite a 5% drop in the past 24 hours, HXRO is currently trading at around $0.195, up from $0.119 a week ago.
NFT Trading Volume Declines in Q2, Ethereum Dominance Temporarily Affected, Solana Takes Major Hit
The NFT market experienced a decline in trading volume of 35% from Q1 to Q2, which can be attributed to factors such as market saturation, changing investor sentiment, and regulatory uncertainties. Ethereum remained the dominant platform for NFT trading, capturing 83% of the volume in Q2, but experienced a temporary setback in May due to the rising popularity of Bitcoin Ordinals. Solana saw the most significant decline in trading volume during Q2, mainly driven by the migration of two major collections to other networks. Despite short-term fluctuations, the long-term potential of NFTs remains promising as they continue to find utility in various industries.
