Solana’s Price Fall and TVL Drop
The price of Solana was cut by 5% at $186 and a slight TVL drop by around $8.7 billion, which are related to overall market volatility within cryptocurrencies.
Security Risk: Hack Attack on Litecoin’s X Account
A Solana meme coin promoted by using the X account on Litecoin that had been attacked by a hacker underlines constant risks in this sector.
Closing Mango Markets operations
Mango Markets, a Solana-based DEX, has closed operations following settlement with the SEC. This is a big event in the Solana ecosystem.
Crypto Market Gains Strength
The crypto market gained strength following a 2.9% CPI print. Solana’s price went above 4% to reach $195, showing resilience.
Solana Trader’s Costly Gamble
A trader lost $200K in fees to snipe an AI meme coin, then sold at a significant loss. This is a risk in the crypto market.
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Solana’s Performance in Early 2024
Solana’s Initial Slip and Recovery In early 2024, it dropped nearly 4% between Jan. 9 and 15, before recovering sharply post-CPI numbers. This is just the dynamics of the crypto market.
Solana’s Hot DePIN Project Nosana
Solana’s hot DePIN project Nosana is launching a GPU marketplace to democratize access to computing power needed for artificial intelligence.
SEC Impact on Solana Innovation
The SEC has been blamed for stifling crypto innovation. However, this may be overblown by the time Chair Gary Gensler leaves for his last days in office.
Institutions are bullish on it ETFs. JP Morgan predicts that ETFs based on Solana will attract $5.2 billion within the first year.
Scammers Target Solana Meme Coin
Scammers made headlines by hacking Litecoin’s X account to promote a Solana meme coin. This incident underscores the need for vigilance in the crypto market.
Solana’s Numbers for the Last 7 Days
Solana’s Price and Market Cap Solana’s price is $186.66, down 5.08%, with a market cap of $90.43 billion. The DeFi TVL stands at $8.737 billion.
Daily Active Addresses and Trading Volume
Solana now has more than 5.9 million daily active addresses, and its 24-hour trading volume is at $2.52 billion. These figures are the representation of Solana’s active users.
Solana’s Ecosystem Performance
Solana’s Declining Trading Volume Given Solana’s declining trading volume, the DEX volume took a hit, nosediving 10% to just over $27 billion.
XRP’s Impressive Performance
XRP climbed up more than 21% to reach $2.82, establishing a new high for this year. These pump are amidst market speculations.
Solana’s DeFi and Meme Coin Performance
Solana’s DeFi Performance
it saw its TVL drop by nearly 2% but still remains the second-largest DeFi network.
Hyperliquid Exceptional Performance
Hyperliquid performed exceptionally well, with a 23% gain and a TVL of $1.95 billion.
Solana Meme Coin Ecosystem
This meme coin ecosystem is deep in the red. A Solana trader paid a $200,000 priority fee to snipe a meme coin, only to sell at a significant loss.
DePIN and NFT Performance by Solana
Solana’s DePIN Sector Solana’s DePIN sector went deep in the red as Helium dented it by 22%. Nosana left the chop behind with a +5% gain.
Top 5 Solana News Stories
Jupiter Prepares Jupuary Airdrop
Leading swap aggregator Jupiter has started whitelisting Solana wallet accounts for its next airdrop, set for Jan. 16-20.
MoonPay Acquires Solana’s Helio
MoonPay acquired Helio, Solana’s leading payment app, for $175 million in a bid to further enhance its payment services.
Nosana Launches GPU Marketplace
Nosana officially launched its decentralized GPU marketplace that offers affordable and scalable AI computational power.
Mango Markets Shuts Down
Solana-based DEX Mango Markets winds down after striking a settlement with the SEC Litecoin Official X Account Hijacked to Peddle Bogus Solana Token Under LTC ticker
What To Do Now:
Prepare for the Jupiter Airdrop Readiness of wallets for a probable windfall is key. A new GPU marketplace has been discovered by Nosana to unlock the scalable AI power for computation Watch Out for the Scammers Be cautious of scammers impersonating Mango Markets after its shut down. Be sure to check the source of tokens to prevent falling prey to crypto scams
Track Sol Strategies’ Raise
Track how Sol Strategies’ $20 million raise will fuel Solana staking and investment growth. Stay in the know and stay safe in the crypto space.
