Top Solana Updates

Solana is ending the year remarkably as the network performed outstandingly in 2021. In fact, Solana’s native token ($SOL) this year rallied by 15016.7% and the ecosystem attained exceptional heights.

Solana continues to add more projects to its network. And it’s also gaining attention among institutional investors. Here are is this week’s updates from the Solana ecosystem.

1 – Solana Ecosystem Is Carbon Neutral For 2021

First, in another achievement for the platform, The Solana Foundation announced that the network is now 100% environmentally friendly.

The blockchain platform is already low in energy consumption. And now it’s more energy efficient. According to the announcement, a single Solana transaction uses only 1,939 Joules of energy. In fact, Dan Albert, Executive Director of Solana Foundation noted that the platform was dedicated to ensuring that Solana is environmentally friendly.

Also, the blockchain platform announced a strategic partnership with Watershed to ensure the decline of carbon emissions. According to the platform, the partnership will focus on the elimination of CFC and HFC refrigerants.

Solana Foundation also pledged to act as a watchdog on the ecosystem’s environmental impact. “The Foundation is supporting this process to offset the carbon footprint of the Solana network for the entirety of 2021,” it said.

2 – $SOL Named Decrypt Coin Of The Year

Solana’s native token ($SOL) has been named as Decrypt top token for the year 2021 after its impressive growth.

Austin Federa, Solana Head of communication via his official Twitter handle announced the award. Above all, Decrypt said that no crypto project had a year like Solana, making it a top project in the blockchain space.

In fact, Decrypt noted that Solana features convinced investors and users that the network has the potential to become an Ethereum killer. It credited Solana’s cheap gas fees and fast transactions for the rapid growth of the blockchain platform.

3 – Sacramento Kings Become First NBA Team On Solana

Solana NFTs community has recorded another project. Now, the NBA team Sacramento Kings tap Solana-based NFT marketplace Magic Eden to roll out digital collectibles.

Sacramento Kings via its official Twitter announced the launch of their new NFT tagged Laidback Lion. It noted that the inaugural NFT collection will contain 20 unique Laidback Lions representing the team mascot, Slamson.

In addition, the NBA team also disclosed that holders of the Laidback Lion NFTs will stand a chance to win unique gifts. These include:

  • A limited hoodie
  • Two premium seats to a Sacramento Kings home game during the 2021-22 season
  • Opportunity to meet the team owner and chairman
  • Access to a private pick-up basketball game on the Kings home court

Vivek Ranadivé, Sacramento Kings chairman in a statement expressed delight with the launch. Ranadivé noted that the team was committed to creating an easy way for the fans to interact with the team.

4 – Solscan, Port Finance Secure Major Funding

Lastly, Solana-based projects Solscan and Port Finance have secured major funding in their recent Series A Round aimed at their growth and expansion.

Solscan, a full-suite block explorer and data analytics platform raised $4 million in the seed funding round. While Port Finance, a DeFi Money Market protocol secured $5.3 million in funding.

Multicoin Capital and Electric Capital led Solscan seed round. Also, crypto investors from Jump Capital, Alameda Ventures, Solana Ventures, Signum Capital, Coingecko, among others took part in the round. Solscan noted that the funds will be directed towards enhancing the platform and building Solscan Analytics (in stealth mode).

Investors in Port Finance fundraising rounds included Alameda Research, Spartan Capital, Brevan Howard, a41, among several others. Lastly, Port Finance further disclosed that the funding will boost its development and help it achieve its objectives.

Solana Price Update

Solana’s ($SOL) price on the hour has rallied by 1.5% and was trading at $200.78 at the time of publication. Also, the token has a 24-hour trading volume of $1,542,448,315.

SOL according to Coingecko had a market cap of $61 billion. It also currently has a circulating supply of 301 million SOL coins and a total supply of 508 million.

We hope you’ve enjoyed the latest Solana Updates. Also, you can join us on Telegram to receive free trading signals.

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