The non-fungible token, or NFT, market saw a 7.68% boost in sales volume this week, hitting $109 million, with notable activity on Ethereum (ETH) and Polygon (MATIC) blockchains. However, this uptick came against a backdrop of massively declining numbers of NFT buyers and sellers, which plunged by 68.00% and 67.78%, respectively. Interestingly, even as the number of...
Solana proved to be the fastest among major blockchains, according to a report by CoinGecko. The report states that on April 6, the average daily number of transactions per second (TPS) reached a record high of 1,504 amid the boom of meme coins on Solana. “This makes Solana 46 times faster than Ethereum and more than five times faster than Polygon, which...
As traders and investors seek gains, this year’s Solana rebirth has buoyed SOL-native exchanges to the forefront of defi activity. DefiLlama data shows five Solana-only protocols appeared in the top 10 decentralized exchange (DEX) volumes in the past 24 hours. A DEX is a trading venue built atop a blockchain that allows users to buy, sell, and swap cryptocurrencies. On-chain...
At the Token2049 conference, blockchain experts debated the Ethereum chain’s current problems. Experts from the blockchain industry discussed the latest innovations and development opportunities during a panel discussion at the Token2049 conference in Dubai. The discussion participants also touched upon the Ethereum blockchain, which is considered the dominant smart contract platform. According to the panelists, Ethereum has...
Solana-powered decentralized exchange Drift shared plans to roll out its governance token alongside a 100 million token airdrop. The governance token will allow holders to vote on future protocol decisions coordinated by the Drift Foundation and proposed by community contributors. An April 16 announcement said 180,000 users would receive 10% of DRIFT’s 1 billion total supply based on interactions...
To alleviate congestion on the Solana network, the pseudonymous creator of the Ore project, Hardhat Chad, announced an immediate halt to all mining. Ore, a blockchain-based project launched on Solana, is exploring the right distribution method by using a proof-of-work (PoW) token distribution mechanism. The project is experimenting with combining PoW’s security with Solana’s fast transaction...
The Parcl protocol on Solana lost 40% of the total value locked after airdropping the PRCL token. According to data from DefiLlama, users withdrew more than 40% of the total value locked (TVL) from the betting platform for the real estate market Parcl. Source: DefiLlama The snapshot was intended for an airdrop that took place on April 15. However, against the...
Anza has introduced updates in version 1.18.11 of its validator client to address Solana’s network congestion issues. Validator clients are crucial software tools used in proof-of-stake (PoS) blockchains such as Solana (SOL) and Ethereum (ETH), enabling validators to authenticate transactions and uphold network rules. According to a representative from Anza, an update aims to solve Solana’s congestion issues. “The...
Due to the ongoing meme coin frenzy, DEXs on the Solana network have taken up the majority of trading volume over the past 24 hours. According to CoinGecko, Solana-based decentralized exchanges (DEXs) accounted for most trading volume over the past 24 hours. The top three were Raydium, Jupiter, and Orca. Raydium’s volume in the last 24...
Anza Network is set to roll out updates to fix the recent congestion issues on the Solana blockchain. “The short version is: significant progress has been made to overcome the current congestion challenges, and we expect to begin releasing fixes next week,” the Solana-focused software development firm confirmed. “In collaboration with other core contributors, we have...
