Solana-based Nirvana Finance Archives

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

23Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

Solana (SOL) is on a roll, recently surpassing the key resistance level of $150 and exhibiting a bullish trend. This positive performance is accompanied by rising market capitalization, trading volume, and investor interest. Solana's Climb SOL currently sits at $153, reflecting a more than 2% gain in the last 24 hours. Market capitalization has grown to $68 billion, a 2.60% increase. Trading volume has surged to $2.83 billion over the past day, highlighting increased investor activity. Looking at a broader timeframe, SOL boasts a 4% uptick over the past week and a staggering 606% increase over the past year, solidifying its upward trajectory. The overall trend remains positive despite some fluctuations between $130 and $157. Analyst Predictions and Price Targets Analysts are cautiou...

Solana Outage Raises Concerns About Network Scalability

11Apr

By Onche Michael ONo Comments

Blockchain

Solana Outage Raises Concerns About Network Scalability

Solana, a blockchain known for its speed and scalability, recently experienced a significant outage, leading to scrutiny and debate within the crypto community. This outage resulted in over 75% of transactions failing, sparking concerns about Solana's ability to handle high volumes of activity. Cause of the Outage: Software Limitations and Tech Debt Austin Federa, Head of Strategy at the Solana Foundation, attributed the congestion to limitations in the software system's ability to manage current traffic. He acknowledged a trade-off between prioritizing new features and essential maintenance, which has led to "tech debt" within Solana's architecture. Developers Working on Solutions to Address Congestion Despite the setback, developers are actively working on improvements. Federa assure...

Solana (SOL) Price Soars, Nears $150 Resistance Level

8Mar

By CryptolifedigitalNo Comments

Blockchain

Solana (SOL) Price Soars, Nears $150 Resistance Level

In a volatile market, Solana (SOL) has emerged as a strong performer, climbing over 5% in the last 24 hours to reach $145. This surge has ignited excitement within the community as the altcoin approaches a critical resistance level. $150: A Pivotal Point for SOL? On-chain data analysis by Santiment suggests that $150 is a significant hurdle for SOL. This price point was last seen in January 2022, and surpassing it could signal a major turning point. Read Also: XRP Price Prediction Fails to Materialize: Wall Street Veteran Shannon Thorp Reflects on Missed Forecast Tempered Optimism Despite Strong Gains Analysts acknowledge the rising optimism surrounding SOL but caution that a lack of FOMO (fear of missing out) could dampen the rally. Historically, however, such sceptic...

ChatGPT Recommends Ethereum, Polkadot, and Solana for Different Investor Profiles Ahead of Anticipated Altseason

4Dec

By OLAJIDE SAMUELNo Comments

Cryptocurrency

ChatGPT Recommends Ethereum, Polkadot, and Solana for Different Investor Profiles Ahead of Anticipated Altseason

As the crypto market gears up for a potential all-season, where alternative coins outshine Bitcoin, attention is turning towards altcoins showing promise for better performance. With Bitcoin's dominance currently at 49.625%, traders are exploring alternative options, and ChatGPT, a versatile AI with growing applications in the crypto sphere, provides tailored recommendations for investors with different risk profiles. Current Market Landscape As of the latest data from CoinGecko, Bitcoin commands a market capitalization of $770,290,720,905 with a dominance of 49.625%. In contrast, Ethereum, a leading altcoin, boasts a market cap of $259,394,948,443, but its dominance remains at 16.716%. While Ethereum and other altcoins aim to escape Bitcoin's dominance, it's clear they still have a cons...

Solana (SOL) Faces Bearish Pressure Amid SEC Allegations, Investors Eyeing Potential Recovery

22Nov

By Raliat IdrisNo Comments

Cryptocurrency

Solana (SOL) Faces Bearish Pressure Amid SEC Allegations, Investors Eyeing Potential Recovery

In the wake of the U.S. Securities and Exchange Commission's (SEC) allegations against Kraken, implicating it as an unregistered securities exchange, broker, and clearing agency, the broader cryptocurrency market has felt the reverberations. Solana (SOL), specifically listed in the SEC's filing, has seen a notable decline in its price, reflecting the sensitivity of the cryptocurrency market to regulatory developments. Read Also: LUNC Breaks 200 Moving Average, Community Proposes Measures to Boost Prices to $1 SEC Allegations and Impact on Solana Following the SEC's filing, Solana (SOL) experienced a significant drop in price. After reaching a 24-hour peak of $57.7, the cryptocurrency faced a decline to a low of $52.72 by 7:15 PM on November 21. As of the latest update, Solana is tradi...

Hacker Used A $10M USDC Fast Loan To Further Issue An ANA For A Similar Sum Of Money On Nirvana Finance, $3.5M Was Stolen

28Jul

By CryptolifedigitalNo Comments

Blockchain

Hacker Used A $10M USDC Fast Loan To Further Issue An ANA For A Similar Sum Of Money On Nirvana Finance, $3.5M Was Stolen

The general crypto industry is just recovering from the attacks on crypto finance protocols and another hit just occurred to deepen the existing wound. This season has tuned out to be unfriendly to the crypto sphere. Barely three months now the attack of FUD on the USDT collateral, the partial de-peg of USDD and USDN, the multi-billion dollar crash of the Terra together with its stablecoin UST and LUNA, the incident happened to Three Arrow Capital, and many more. As stated by the crypto analysts firm, PeckShield, Solana-based Nirvana Finance got a big attack on its DeFi-protocol token, ANA together with its stablecoin NIRV plunged in value by 90%. https://twitter.com/peckshieldalert/status/1552589510986215425?s=21&t=NoIM-FN6JAgGi1--gigLrg $3.5 million Was Stolen As state...