- Solana fell 5% to $186, and TVL fell slightly to $8.7 billion
- Hacker exploits Litecoin X account to promote meme coin
- Mango markets close operations
- Cryptocurrency market gains strength after CPI reading of 2.9%
- A Solana trader spends $200,000 in fees to snap up an AI meme coin, then sells it at a huge loss
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And in silent continuation until the beginning of 2024,
Solana It fell nearly 4% between January 9 and 15, before recovering sharply from the post-CPI numbers. $SOL’s decline can largely be attributed to the general malaise in cryptocurrencies caused by the Bitcoin shakeout and jitters in pre-inflation numbers which saw the price of the royal coin briefly drop below the $90k mark before hitting $100k (once other).
On the upper side,
Jobware is here!Elsewhere, Solana’s DePIN project
Nosana launches GPU market To democratize access to the computing power needed to drive artificial intelligence.
Solana based DEX
Mango Markets closes shop After settlement with the US Securities and Exchange Commission (SEC). The Securities and Exchange Commission has been accused of stifling cryptocurrency innovation, but all those concerns could become a thing of the past as its lame-duck chairman, Gary Gensler, winds down his final few days in office.
On a brighter note, institutions are bullish on Solana ETFs, with JP Morgan predicting so
Solana-based ETFs could make $5.2 billion In the first year.
Then, when it seemed like the drama couldn’t get any more dramatic, scammers made headlines by hacking a Litecoin X account to promote the Solana meme coin.
Update:
US Consumer Price Index (CPI) for December It came in at 2.9% versus a 2.9% estimate, sending crypto assets higher, with Solana jumping more than 4% to $195.
Here’s this week’s report on the twists and turns of Solana and its ecosystem.
It was a down week for Solana as it fell to $175, its lowest price in over a month. Bitcoin also fell to $89.9k but quickly recovered its losses. After extending its monthly loss to 14%, Solana’s 24-hour trading volume fell to $2.49 billion, losing nearly half its previous value. (In the last few hours after writing this article, Solana has made a strong comeback, surpassing $200 again as Bitcoin price action surges and the SOL ETF fever.)
Given Solana’s low trading volume this week, it’s no surprise
DEX volume has taken a huge hitfell 10% to just over $27 billion.
RhidiumSolana’s leading DEX saw a 23% drop in trading volume, and two other decentralized exchanges fared even worse. However, Mantis stood out with a notable 239% increase, while the rest of the lineup had mixed results.
The majority of the top ten currencies are in the red. Solana shares fell by about 5%.
Ethereum Closely followed by a decline of 4.46%.
XRP It is back in Q4 2024 mode, rising more than 21% to $2.82 and setting a new high for the year. XRP pump comes as K33 suggests Donald Trump
opening This can no longer trigger the typical “sell the news” reaction in the cryptocurrency market.
the
CMC Altcoin Indicator The index barely moved this week as it rose from 44 to 45. Factor in that the Greed and Fear index fell to 51, and you can see that traders are taking a cautious approach.
Solana’s decline in TVL was not enough to dislodge him from second place. The network generated $3.69 million in fees (over 24 hours), surpassing Ethereum’s $2.95 million in fees, while
You see He earned $1.99 million.
Trading volume on
Solana ecosystem It fell by 17% while the market capitalization more than doubled to $815 billion.
It’s a red wave of losses in the Solana ecosystem, with some outliers making some gains.
Top winners:
- complex (Comp): +7.41%
- Lido Dao (LDO): +4.69%
- herb (Grass): +4.11%
- Rhidium (RAI): +1.37%
Biggest losers:
- Bio protocol (Bio): -33.57%
- Ai16z (AI16Z): -27.86%
- Helium (Hunt): -21.13%
- FTX icon (FTT): -18.42%
- Geto (GTO): -18.34%
Solana experienced approx
2% decrease in TVL value But it still maintains its position as the second largest DeFi network. On the other hand, TRON stock fell by 7.5%, strengthening Solana’s position in the DeFi space. Hyperliquid performed exceptionally well, rising by 23% to reach $1.95 billion in total value.
Tron’s decline resulted in it taking a 5.65% share of the DeFi sector, while Solana’s share rose to 7.31%. Hyperliquid’s exploits gave it 1.64% market share.
Solana meme coins
Remove a few
Solana meme coins What remains is heaven for short traders. The Solana meme coin ecosystem is currently in the red. In a desperate move, bad actors hacked the Litecoin X account to promote the Solana meme coin.
In a classic case of “the early bird catches the fatter worm,” Solana Trader
Pay a priority fee of $200,000 To snipe a meme coin. But what seemed like a bold move quickly turned into an expensive gamble, as the trader ended up selling the meme coin at a huge loss. If that’s not a double whammy, I don’t know what is!
Top winners:
- Ritardio (Retardio): +15.27%
- Papa Tate (Father): +6.58%
- Mother Iggy (Mother): +2.4%
- Hehe (Hehe): +1.5%
Biggest losers:
- regiment (Vogue): -25.53%
- Momo the bull (Momo): -24.57%
- Bubba Oba (Bubaba): -20.42%
- Mo Ding (Moody): -19.61%
- Goatsius Maximus (Goats):–19.52%
Solana Dibben
- Solana Deepen Sector It was deep in the red, with helium (HNT) at 22%.
- Nosana avoided the cut with a 5% gain thanks to its launch in the GPU market.
NFTs
Solana proves it
Dominance in the NFT spacenow attracts nearly 33% of users, compared to 30.6% just one week ago. Meanwhile, both Polygon and Bitcoin took a step back, while ApeChain managed a small but noticeable increase.
Jupiter is preparing for a Jupuary airdrop
Leading swap aggregator Jupiter has begun whitelisting Solana wallet accounts for the next airdrop, scheduled for January 16-20 and ahead of the Katstanbul conference on January 25-26 in Turkey, and by the looks of it (at least two gazillion wallets), it’s It will be doozy. You can link your portfolio in preparation here on
https://jupuary.jup.ag/But please beware of phishing sites.
A total of 700 million JUP tokens worth $575 million have been allocated for the airdrop, with 440 million tokens allocated to users, 60 million JUP tokens to stakeholders, and 100 million to be used as “islands” for growth campaigns.
MoonPay acquires Solana’s Helio for $175 million
MoonPay acquired HelioSolana’s leading payment app, for $175 million, with the aim of enhancing its payment services. The acquisition represents an important step in MoonPay’s expansion strategy.
Nosana launches GPU market
Nosana officially
Launched a decentralized GPU marketoffers affordable and scalable AI computing power for inference workloads. The platform marks the end of a year-long beta phase and aims to democratize access to GPU resources.
Mango markets close after SEC settlement
Mango Markets, a Solana-based DEX platform, is
closing After reaching a settlement with the Securities and Exchange Commission, terminating operations following governance votes and legal challenges from exploitation in 2022.
X’s Litecoin account was hacked to promote a fake token
X’s official Litecoin account was
It was hacked to promote a token based on Solana Using the LTC ticker, the market cap was briefly raised to $27.00 before falling sharply to $3,400. The unauthorized post, including the fake contract address, was quickly removed.
- Prepare your Solana wallets for a Jupiter windfall.
- Explore Nosana’s new GPU marketplace to unleash scalable AI computational power.
- Beware of scammers who may impersonate Mango Markets after it closes.
- Watch how Sol Strategies’ $20 million raise will accelerate Solana shareholding and investment growth.
- Always check token sources to protect yourself from cryptocurrency scams.
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