$SOL, alongside the entire crypto market cap, seems to be recovering on the hour after the recent plunge. However, in the last seven days, $SOL has suffered a 15.3% drop and traded at $164.76, according to Coingecko.
Despite Solana token slow recovery, the ecosystem continues to grow remarkably. With several new partnerships and integration, Solana solidifies itself as a strong competitor to the Ethereum network. Therefore, here are the latest week’s updates from the Solana ecosystem.
1 – Opera Partners With Solana
First, on our weekly update is Opera, which has entered a strategic partnership with Solana blockchain.
As a result of the partnership, Opera will integrate Solana and add support for its dApps. Schedule to begin in the first quarter of 2022, Opera will allow Solana access to its built-in crypto wallet.
Opera joins forces with @Solana!🚀 The integration will enable Opera Android users to enjoy seamless access to Solana DApps alongside low-fees and fast transactions within the ecosystem. You’ll be able to access it through Opera in Q1 2022. Learn more: https://t.co/XRkHUSYrLZ pic.twitter.com/viRDwpQwEq
— Opera (@opera) December 10, 2021
Opera disclosed that the partnership aligns with its vision to remove hurdles associated with using web3 and crypto. It also noted that it chose Solana because of its lightning-fast finality and low transaction fees.
Susie Batt, Opera’s Crypto Ecosystem Lead, expressed delight with the partnership. Batt noted that “Solana has the goal of onboarding one billion people to crypto. That’s a goal we share. No other browser company has been at the forefront of web3 as early on as Opera.”
2 – Solana Experiences Another DDoS Attack
In another unfortunate event this week, the Solana network reportedly experienced another distributed denial-of-service (DDoS) attack in recent times.
As a result of the DDoS attack, the network was jammed, and transactions were delayed all around. However, the network which remained online throughout the ordeal has since recovered.
What's your biggest concern about #Solana right now?
— Gate.io (@gate_io) December 10, 2021
3 – Metaplex Announces 2021 Community Impact Awards
Solana-based decentralized protocol, Metaplex, has announced its inaugural event focused on honoring people and projects that contributed to its growth.
Introducing: a celebration of this landmark year for NFTs with the Metaplex Community Impact Awards.🦾
Start submitting nominees today for those who have made a meaningful impact on the future of NFTs—community voting begins next week!
— Metaplex (@metaplex) December 9, 2021
The Metaplex Community Impact Awards will recognize people with a meaningful impact on the future of NFTs and Web3. The award will be divided into several categories, including Charity, community Building, developer Tools, and others.
Finally, the award winners will be presented with a rare NFT, trophy, and an IRL awards ceremony next year.
4 – Ceramic Adds Support For Solana
Ceramic, a decentralized database protocol, has announced support for Solana, allowing developers access to advanced cross-chain identity and data management.
📢📢📢 Ceramic just added support for #Solana 👏
(1/3) Developers building on #Solana can now use Ceramic's sovereign data network for cross-chain identity and dynamic data. S/O to community member @zhimao_liu of @CyberConnectHQ for making this happen!
— Ceramic (@ceramicnetwork) December 9, 2021
Ceramic announced the integration via its official Twitter handle and noted that the partnership would benefit the Solana NFT ecosystem. It explained that users would use Ceramic to create unique, dynamic, and generative NFTs.
“Together, this enables developers and users to depend on the same accounts and wallets to manage transactions, identities, and data across their applications,” Ceramic said.
5 – Zeta Announces $8.5 Million Seed Funding Round
Lastly, Zeta has secured $8.5 million in its just-concluded funding round in Solana-based protocol.
— Zeta ζ (@ZetaMarkets) December 8, 2021
The funding round was conducted via a private token sale and led by Jump Capital. According to the announcement, the fund will be used to develop and launch its DeFi futures and options exchange.
Race Capital, Electric Capital, DACM, Alameda Research, SkyVision Capital, among others, also participated in the fundraising.
In a statement, Zeta, winners of the Solana hackathon, noted that the funding would aid its growth and development. “This fundraise allows us to accelerate the development and business growth of the platform, initiate community grants to encourage composable project integrations, and be a means to onboard key strategic and market-making partners,” Zeta said.
$SOL Price Update
When writing this article, $SOL was down by 3.3% in the last seven days and was trading at $164.24.
Also, the market cap is $50.7 billion with a 24-hour trading volume of $1.2 billion. Moreover, $SOL currently has a circulating and total supply of 307 and 508 million tokens.
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