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Information about Solana (SOL)
Solana is a blockchain platform that supports high-performance decentralized applications and smart contracts. The Solana platform is designed to facilitate the creation of decentralized applications (DApps) to make decentralized finance accessible on a larger scale. Solana improves scalability by using the Proof of History consensus method, combined with the underlying blockchain’s Proof of Stake consensus method.
SOL is a token that operates on the Solana blockchain platform. The SOL token has the typical uses of a platform token such as:
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Bitcoin price remains around 85,000 USD, with altcoins gaining traction. Solana, Cardano, and Dogecoin lead in the past 24 hours, while Bitcoin ETFs reported 171 million USD in outflows, affecting investor sentiment.
Donald Trump sharply criticized Fed Chair Jerome Powell for interest rate management, raising concerns over market confidence as he implies the need for change in Fed leadership.
VanEck is set to launch the NODE ETF on May 14, which will invest in crypto-related companies, aiming to hold 30 to 60 stocks in the digital asset sector.
VanEck’s established Bitcoin ETF, HODL, has $1.2 billion in assets. This growth illustrates the rising interest in ETFs that track Bitcoin among retail and institutional investors.
With NODE, investors can gain exposure to the digital economy linked to Bitcoin, Solana, XRP, and Litecoin without directly purchasing these cryptocurrencies.
The average transaction cost on Ethereum is currently at 0.168 USD due to reduced user engagement, leading to a significant decrease in on-chain activity.
While Ethereum’s TVL fell by over 3%, Solana’s rose by 4.4%, highlighting a shift in investor interest and activity within the DeFi space.
In Q1 2025, the crypto market cap fell by 18.6%, translating to a loss of 633 billion USD, largely due to recession fears. Bitcoin’s dominance increased to 59.1%, but its price fell by 11.8%, underperforming compared to gold and U.S. Treasury bonds.
The DeFi sector saw substantial losses, with Ethereum losing all its 2024 gains, and Solana’s total value locked (TVL) declining over 20%. Daily trading volumes on centralized exchanges decreased by 27.3%, indicating a drop in investor activity.
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