Solana brush
+0.44%
While Bitcoin and Ethereum have fallen more than 4% and 2% respectively over the same period, they have outperformed their peers this week, up 9% over the past seven days. This is The Block’s price page.
“This performance was supported by several endogenous catalysts specific to the Solana ecosystem, including major technology releases and updates from VanEck. filing “This is the first Solana ETF launched in the U.S.,” Coinbase analysts David Duong and David Han said.
Various catalysts supporting Solana
According to Coinbase’s weekly report released on Friday, several recent developments have strengthened the value proposition of the Solana blockchain. One of them is ZK compression technology, which the analysis suggests could reduce Solana’s costs, especially for large token distributions.
Analysts say Solana’s Blockchain Link It also represents an advancement that could bring “an improved and more universal user experience for Solana applications.”
“Blockchain Links, or ‘Blinks’ for short, allow you to embed certain Solana operations into your website user interface. With the appropriate settings, Blinks allow users to perform a variety of on-chain operations, including minting NFTs, sending USDC, and DEX swaps. Governance proposals, etc.,” Coinbase analysts said.
VanEck applied for Solana ETF in the US.
The report also noted: Fund manager VanEck has applied for an exchange-traded fund to track Solana’s price.
“We are pleased to announce that VanEck has filed for the first Solana exchange-traded fund (ETF) in the U.S.,” said Matthew Sigel, head of digital asset research at VanEck. post Thursday at
“This development is promising regardless of the outcome,” Coinbase analysts said.
Solana According to The Block’s pricing page, it’s trading around $141.60 at the time of this writing, down 2% in the last 24 hours.
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