Top Solana Updates October week 3

It was a wonderful week for the Solana ecosystem as $SOL surged remarkably this week. The $SOL price rallied by 9.0% in the last seven days and is currently trading at $159, according to Coingecko.

Meanwhile, the Solana ecosystem continues to record new heights as stablecoins are integrating on more platforms. Currently, they are available on Binance, OkEx, Huobi, FTX, Bitfinex, Gate, and AscendEx. Here are the recent Solana updates.

1 – Solana Foundation Unveils Server Program

The Solana Foundation has launched a new project tagged ‘Server Program,’ which will provide individuals with access to new servers.

Announcing the Server Program via its official Twitter handle, the Solana Foundation noted that it would help to decentralize the Solana validator community. Therefore, the “server program” will also allow Solana node operators to access high-quality bare metal servers.

Finally, the Solana Foundation noted that the program is optional and is open to any node operator. Also, it pointed out that the program was launched after extensive interaction with several data center operators globally.

2 – eToro Adds Support for Solana ($SOL)

According to the announcement, eToro has added support for $SOL to its crypto-asset offering.

As a result, users can trade cryptos on eToro’s platform, which has boosted the growth of $SOL.

Doron Rosenblum, VP of Business Solutions at eToro, expressed delight with the addition, saying: “Solana further broadens our range of crypto assets, offering our users even more opportunity to diversify their portfolios.”

Also, Rosenblum expressed his satisfaction with the growth of the entire crypto space. He noted that $SOL was gaining higher adoption daily.

3 – FTX US Unveils Platform for trading Solana-Based NFTs

One of the most important Solana updates is related to FTX. The Crypto exchange FTX US has announced that the Solana NFT Marketplace is now live, which will support trading for several Solana-based NFTs.

The U.S. division of FTX announced the launch via its official Twitter handle. According to the announcement, users can now trade NFTs minted on its marketplace using $USDT, $SOL, and even $ETH.

Brett Harrison, FTX US President, explained that the NFT platform would start by supporting 75 projects. It will happen before adding support for all NFTs based on Solana’s Metaplex standard.

Harrison said, “With the launch of this platform, we hope to provide both U.S. and global users with a regulated marketplace that is intuitive and responsive to their needs.” FTX US has also revealed its decision to add support for Ethereum based NFTs shortly.

4 – Chainlink to Launch on Solana in Q4-2021

Chainlink’s decentralized oracle infrastructure will be integrating into Solana’s unique blockchain architecture.

Anatoly Yakovenko, CEO of Solana Labs, and Johann Eid, Chainlink Head of Integration, recently disclosed this during an interaction. They noted that the integration would benefit developers allowing them to build off of each other.

Also, Yakovenko expressed delight with developers who he described as the driving force of the DeFi space. Also, Yakovenky said, “the most important factor driving DeFi’s mass adoption is how many next-generation brains start building decentralized applications that create end value for millions of users.”

According to the announcement, Eid noted that Chainlink and Solana give developers tools to increase sophisticated use cases. He revealed that Chainlink would integrate Solana in Q4-2021.

5 – Binance Smart Chain Launches on Wormhole Network

After unveiling the Ethereum-Solana bridge, Wormhole Network announced it is supporting the Binance Smart Chain.

As a result, users will be able to bridge tokens and NFTs between the Ethereum-Solana-BSC ecosystems. Also, the BSC – Wormhole bridge will allow users to access the BSC ecosystem.

According to the announcement, the BSC integration will increase the value and interoperability of its network. “We believe this important property for cross-chain interoperability will unlock a huge amount of value across the highest value crypto communities,” it noted.

6 – Orca Attains New Milestone

Finally, the Decentralized exchange Orca has attained new heights as the TVL reached the USD 1 billion mark.

Also, Orca is currently the sixth-ranked project in the Solana ecosystem by total value locked (TVL), according to tracker DefiLlama. Orca’s TVL at the time of writing is around USD 11.99 billion.

On the other hand, the platform thanked its users. Grace Kwan, the Orca co-founder via her official Twitter handle, expressed delight with the new milestone. “For the first time, it feels like our ship is sailing…,” she tweeted.

$SOL Price Update

$SOL, which is currently the sixth-largest token by market cap, had a 4.7% drop at publication.

The token, according to Coingecko, was trading at USD 157.73 with a 24-hour trading volume of USD 1.7 billion. $SOL currently has a circulating supply of 300 million and a total supply of 488.6 million.

We hope you’ve enjoyed the latest Solana updates.

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