Sunday, December 10, 2023

Solana Gained 10% As The Gaming Adoption Enhances

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Solana gained 10% with the gaming adoption enhancing and the SOL token has seen larger gains than others over the past week so let’s see why in our latest blockchain news today.

Solana is the ninth biggest crypto by market cap and Solana gained 10% in the past day and moved from $96 to $103 so compared to other coins, only Cardano and DOGE saw similar gains. Solana’s upward move came after Kfatfon who is a publisher of battle royale game PUBG announced that it is partnering with Solana Labs to develop the games on the network. A lot of other companies were announcing and launching projects on the blockchain and web3 gaming startup BLock Tackle which is developing a Solana NFT skateboarding game and Coinbase added SOL token to its wallet browser extension.

sol price
SOL 24-hour Price Chart (Source: Coingecko)

The Giving Block which is a crypto philanthropy platform announced that it added support for the Solana blockchain and allows donors to contribute to more than 1400 charities using SOL but the SOL holders can contribute to causing focusing on the range of other initiatives such as Ukraine relief animal welfare and education.

On the investment side, the asset management company Grayscale launched a non-ETH altcoin fund composed of 24% Solana this week with the fund containing about 24% and Cardano while other coins in the fund make up to 16% each. Grayscale dedicated Solana trust for those looking to focus on SOL. In the DEFI space, the Solana DEX ORca announced Whirpools which is a new feature in beta and allows traders to concentrate liquidity in pools and gain bigger financial returns. Only Orcanaut NFT holders will have access to the beta which will remain in the early access for two weeks. While Solana is getting a buzz lately and the altcoin is still down from the ATH of $260 which is reached and this year Solana struggled to regain the previous value between $80 and $100.

Solana Crashes After, btc, bitcoin, market,
Solana Blockchain

As recently reported, The price of Cashio’s dollar-pegged stablecoin CASH dropped from $1 to $0.00005 after an infinite mint glitch which enabled attackers to mint the tokens without providing enough collateral. The developer 0xGhosCahin announced on Twitter that people should not mint any CASH and added that the team is investigating the issue and they think they found the root cause, advising them to withdraw the funds from the pools.

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