PayPal has launched its Paxos-issued PayPal USD (PYUSD) stablecoin on the Solana blockchain, enabling users to facilitate cross-border transactions, remittances, and other payments on the high-performance network.
A report reveals that Solana became the fastest blockchain, outperforming Ethereum and Polygon, during the recent meme coin craze, reaching a record 1,504 transactions per second.
Solana has experienced a surge in NFT trading volumes, outpacing Bitcoin and Ethereum, while decentralized exchange (DEX) volumes on the network continue to decline, potentially affecting the market performance of SOL, the native cryptocurrency.
Despite a recent 30% drop in total value locked (TVL) on the Solana blockchain, an expert predicts that Solana has the potential to surpass its all-time high, citing factors such as network improvements, growing adoption, and Stripe’s re-entry into the crypto market.
Solana decentralized exchange aggregator Jupiter has acquired Ultimate Wallet, a self-custody crypto wallet firm, as part of its strategy to enhance mobile capabilities and attract millions of new users.
While top altcoins Dogecoin and Solana struggle in the bearish crypto market, the new altcoin Rebel Satoshi Arcade, combining GameFi and NFTs, has sold nearly 80% of its presale tokens, showcasing strong investor interest and potential.
Coinbase Wallet has integrated with the Solana decentralized exchange (DEX), allowing users to trade over 50,000 Solana tokens and increasing accessibility and liquidity in the Solana ecosystem.
Decentralized finance lending platforms MarginFi, SolBlaze, and Solend are engaged in a controversy involving accusations of misconduct and misinformation, highlighting the complexities of the rapidly evolving DeFi landscape.
Anza, a Solana-focused development collective, has announced measures to address the network’s ongoing congestion issues, including planned patches and improvements to the Agave validator client.
Circle has partnered with Solana to introduce its cross-chain transfer protocol (CCTP) to the Solana blockchain ecosystem. This integration will enable secure and native swapping of USDC tokens between Solana and other blockchain networks like Ethereum, Avalanche, and Cosmos.
