Coingecko’s $SOL price has dropped below $200 this week as the entire crypto market cap plummeted.
However, the Solana ecosystem grows remarkably, solidifying itself as a solid Layer-1 competitor to the Ethereum network. Furthermore, here are the recent exciting Solana Updates.
1 – Solana Celebrates Remarkable Growth
This week, via its official Twitter handle, the Solana Foundation has announced a series of milestones that the project has recorded across several areas.
First, Solana further expressed delight with the growth of its social media platforms, with Twitter now having over a million followers. It also pointed out the impressive growth and impact of its hackathons on the DeFi space.
2/ The Solana ecosystem has grown in leaps and bounds — and new projects are starting all the time. https://t.co/trlgEgn3vK
— Solana (@solana) November 25, 2021
Also, Solana revealed that there are currently more than 1,700 active developers building its network, by saying “the Solana ecosystem has grown in leaps and bounds, and new projects are starting all the time.”
2 – FTX CEO: Solana Could Become The Next Bitcoin.
Sam Bankman-Fried, FTX founder and CEO, said Solana could become the next most dominant digital asset project.
Bankman-Fried made this statement during an interview with David Lin of Kitco News. According to him, the next Bitcoin would be a blockchain project with high throughput like Solana.
Also, the FTX CEO argued that Solana’s fast transactions and low gas fees would allow it to evolve into the new Ethereum or Bitcoin. “I am optimistic about Solana. She has every chance of doing this, which is very interesting, I think,” he said.
Finally, Bankman-Fried further stated that Avalanche (AVAX) was another blockchain project that could also become dominant.
3 – Solana Is More Eco-friendly Than Google
Solana has disclosed that it is more eco-friendly than Google as a transaction on its network takes less energy than two Google searches.
Really proud we were able to pull this report on Solana's energy usage together in time for Thanksgiving https://t.co/rmQzFpUGdj
— Austin Federa (@Austin_Federa) November 24, 2021
Austin Federa, Solana’s Head of Communications, tweeted about Solana’s work towards carbon neutrality. Therefore, Robert Murphy and Solana Foundation conducted the research, suggesting that Solana was cutting down its carbon footprint.
The report claims that a single Solana transaction takes 0.00051 kWh, or 1,836 Joules, of energy. Even more amazingly, the report asserts that the Solana ecosystem uses an estimated 3,186,000 kWh annually.
4 – Cyclos, Solatars Debuts ‘Le Cougar Clique’
Solana-based Cyclos had partnered with Solatars to launch “Le Cougar Clique,” an NFT drop supported by the CycloSwap DeFi platform.
2/ @cougarclique is the 1st DeFi Integrated NFT Collection on Solana and an expansion of the @cyclosfi ecosystem.
To find out more and to read about the deflationary Cougarnomics visit: https://t.co/xGCKiOVzHy pic.twitter.com/9SW5goh189
— Cykura 🌊 (HIRING) (@cykurafi) November 18, 2021
Le Cougar Clique connects NFTs to DeFi through a “culling” mechanic, which reduces NFT supply to increase scarcity. This entire deflation mechanism is known as Cougarnomics.
Also, the “Le Cougar Clique” NFT will take place in a single batch of 10,000 collectibles developed in collaboration with Solatars. The NFT drop will go live in December, according to the official press release. The drop will also be accompanied by a minting event on the Solana-based AMM, Cyclos.
5 – Bonfida Launches Jabber On Solana
The last Solana Updates is related with Bonfida, a Solana-based project, has announced the launch of Jabber, the first mobile messaging app built on blockchain.
Bonfida is excited to announce the launch of Jabber, an on-chain messaging application built on @solana 🎉
Get Jabber here 👇
iOS: https://t.co/HIpxd4PJ8XAndroid: https://t.co/CJyN1swEu4
Find out more 👇https://t.co/Qt33J92GE4
— Bonfida (@bonfida) November 26, 2021
Jabber is currently available on iOS and Android and will allow users to earn money for their work and interactions. Also, the new messaging app will enable users to send and receive tips in the $FIDA token.
Finally, Bonfida noted that the new mobile messaging app would benefit the Solana ecosystem by bringing more social applications to Solana by allowing users to send encrypted messages.
$SOL Price Update
When writing this article, the $SOL price went up by 7.4% in the last 24 hours and was trading at $204.18.
Also, $SOL currently has a market cap of $62.2 trillion with a 24-hour trading volume of $2 billion. In addition, $SOL has a circulating supply of 304 million and a total supply of 508 million tokens.
We hope you’ve enjoyed the latest Solana Updates.
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