Solana Stablecoins Hit $650 Billion In Monthly Transactions
For most of Solana’s short history, meme coin trading defined a large chunk of its activity. That appears to be changing. According to a research note from Grayscale Investments, February’s record volume – $650 billion in stablecoin transactions – was driven by a move toward SOL–stablecoin trading pairs and real payment activity — not speculative bets on short-lived tokens. Related Reading: US Should Act On Bitcoin, Not Just Praise It, Ex-Advisor To Trump Says The network processed more transactions tied to practical money movement than at any point in its....
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Bullish, a cryptocurrency exchange backed by venture capitalist Peter Thiel, has filed with the US Securities and Exchange Commission (SEC) to utilize Solana (SOL) stablecoins in the exchange’s latest effort to raise $1.15 billion. This announcement comes shortly after the exchange went public on the New York Stock Exchange (NYSE) under the ticker symbol BLSH, […]
A well-liked substitute for the official Solana explorer is called Solscan. You may use it to look up particular wallet addresses and transactions using SolScan's search bar. When you are looking for information about certain transactions or tokens on the Solana blockchain, SolScan is the tool to use for this purpose. This tool is trusted by many venture capitalists, such as Solana Ventures and Alameda Research. In addition, there are over 2 million monthly users, totaling over 180 million data requests.Related: What is Solana, and how does it work?Most crypto enthusiasts know Etherscan,....
On-chain data shows Bitcoin dry powder has been accumulating on exchanges as stablecoins reserve exceeds $19 billion. Stablecoins Reserve Crosses $19 Billion As pointed out by a CryptoQuant post, exchanges now hold stablecoins worth more than $19 billion. Such a large reserve might mean enough dry powder for Bitcoin to make a big move soon. […]
Solana has made a name for itself in the decentralized finance (DeFi) and non-fungible token (NFT) space over the last few years. Its growth has seen it become one of the largest contenders for the leading smart contract network Ethereum, as it presents faster and cheaper transaction options. Its transaction count had quickly multiplied in light of this, and now, the cryptocurrency has neared another important milestone. Almost 100 Billion Transactions With only two years of operations under its belt, Solana has quickly grown in prominence among crypto investors. With an average of 3,000....
Crypto traders flocked to the safety of stablecoins during the Sept. 7 market crash. A sharp sell-off across the cryptocurrency market Tuesday—that saw top tokens like Bitcoin (BTC), Ether (ETH), Cardano (ADA), and Solana (SOL) fall by double-digital percentages—created a venue for stablecoins to prove their worth.The fixed-price cryptocurrencies offered interim protection to traders from the notorious crypto price volatility. They did so by almost maintaining their one dollar-peg and offering sufficient liquidity to traders that looked for a safety net during the market decline.Blockchain....