2022-1-6 06:00 |
Phantom, a self-custodial browser extension and crypto wallet built for Solana, became the ecosystem’s top dog despite lacking a mobile app–hitting 1. 8 million monthly active users in just nine months.
Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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| Analogue Notcoin - TapSwap |
Solana, the self-proclaimed high-speed blockchain darling, finds itself facing an uphill battle. A confluence of a broader crypto market downturn and persistent network congestion threatens to stall its momentum and cast doubt on its long-term viability.
Solana, like many Proof-of-Stake (PoS) cryptocurrencies, relies on a decentralized network of validators who secure the network by staking their SOL coins. In exchange for staking, validators earn rewards.
The Wild West of cryptocurrency just got a little wilder. Solana, the blockchain known for its lightning-fast transactions, recently became a breeding ground for a peculiar phenomenon: the meme coin frenzy.
Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin’s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community.
A cryptocurrency analyst, who accurately foresaw the market’s bottom in 2018, is now focusing on Solana, foreseeing a price bottom for the cryptocurrency and identifying its next target after reaching it.
The Solana ecosystem has achieved a significant milestone by becoming the most popular blockchain ecosystem of the year. This is due to its ability to capture nearly half of the world’s crypto investor interest in the chain-specific theater.
The present bias towards long positions means potential for a long squeeze, where investors who hold long positions feel the need to sell into a falling market to cut their losses.