Paxos Announces Expansion of Stablecoin Issuance to Solana Blockchain Platform

Paxos, the regulated blockchain & tokenization infrastructure platform, is pleased to announce a strategic expansion of its stablecoin issuance to the Solana blockchain platform. Previously exclusive to Ethereum, this initiative represents “a significant milestone for the innovation and evolution of Paxos's enterprise and consumer-facing businesses.

Timeline of Solana

The crypto industry experienced a significant number of security incidents in 2023 but is exploring new approaches to fight back against attackers and protect firms' public images.

Solana Price Prediction: The competitive smart contracts token Solana (SOL), is making significant strides in the market, outshining its competitors with an impressive rally. Currently boasting a market capitalization of $40.2 billion, Solana has recently surpassed XRP to claim the fifth position in the market ranking and is now on the verge of overtaking BNB.

Over the past 24 hours, Solana (CRYPTO: SOL) has rallied by a staggering 17%. This dramatic rise appears fueled by ongoing optimism surrounding the blockchain, although concerns persist about potential sell-offs from FTX (CRYPTO: FTT) and Alameda Research.

In 2022, the cryptocurrency realm encountered a major hurdle with the collapse of FTX, triggering industry-wide repercussions. This adversity posed challenges for Solana, one of its standout blockchains, disrupting its course.

Solana has made a spectacular entrance into the 2023 bull market, exhibiting performance similar to its stellar rise back in 2021. In just the past two days, the SOL/USDT price chart has surged impressively, growth that has not only caught our attention but has also shown dominance over other major assets in the crypto space.

Solana prices have shown some serious strength lately, rallying to their highest level since April 2022 as the network benefits from substantial activity and strong interest in memecoins.

Solana (SOL) is flying high at the moment, and from all indications, the crypto token has no intention of slowing down anytime soon as it eyes $100. This is no doubt feasible, considering the several bullish narratives that continue to build up in the Solana ecosystem.

Solana's cryptocurrency, SOL, which experienced a 94% decline in 2022, has reportedly made a comeback, attracting the attention of digital asset investors. The SOL token has surged in price by almost 800% since December 2022, Bloomberg reported Thursday (Dec. 21).

Trezor, a prominent web3 hardware wallet manufacturer, has expanded its token support, now accommodating SOL and Solana Program Library (SPL) tokens. This addition enhances the functionality of Trezor's hardware wallets, the Model T and Safe 3, as announced on the social media platform X.

In a surprising twist, the Solana token (SOL) has left the cryptocurrency market in awe with an astounding surge of over $4.8 billion in the past 24 hours. This surge has propelled Solana's market capitalization beyond the impressive milestone of $37 billion.