Solana SOL Price Rebounds 4% Following Instagram, Facebook NFT Wallet Support

Social media platforms Instagram and Facebook (Meta) have announced support for the native Solana wallet Phantom, causing the SOL price to bounce 4%. The post Solana SOL Price Rebounds 4% Following Instagram, Facebook NFT Wallet Support appeared first on BeInCrypto.

Timeline of Solana

A closely watched cryptocurrency analyst says that Solana (CRYPTO: SOL) may be in for a big rally. What Happened: Altcoin Sherpa, a pseudonymous crypto analyst with 186,200 Twitter followers, believes that Solana could see a 50%+ rally if key exponential moving averages on the four-hour time frame remain intact.

Solana co-founder Anatoly Yakavenko has said that Solana's new validator, due by the end of 2022, will improve the reliability of the network. The post 1,000 Solana Validators Go Offline as Co-Founder Claims No More Outages by End of Year appeared first on BeInCrypto.

The German cloud provider has blocked server access to Solana validators, causing a portion of the network's stake to become delinquent. The post 1,000 Solana validators go offline as Hetzner blocks server access appeared first on The Block.

Solana [SOL] recently faced backlash from the crypto community because of the outages in the second half of 2021 and first half of 2022. These mishaps raised several questions from the Web3 community related to the reliability of the blockchain.

The Solana (SOL) price might have completed both long- and short-term corrective patterns. If the ongoing breakout manages to reclaim the $37.60 area, the rate of increase could accelerate further.

Magic Eden, one of the largest NFT marketplaces for Solana, witnessed a decline in terms of transaction volume over the past month. This development could be a barrier to the growth of Solana in the NFT marketplace.

Solana's NFT ecosystem witnessed commendable growth over the last few months. Furthermore, not only the NFT space, SOL's price action also looked pretty promising as its chart was painted green.

The crypto bear market that began in May has hurt Solana just as much as the rest of the market. CoinGecko reported a massive 16.4 percent increase, and the price of SOL is now at $32.27 at the time of writing.

A Q3 assessment of Solana showed growth in its user activity and NFT activity. The proof-of-history blockchain, however, recorded declines in its TVL, revenues, and transaction fees within the same period

These changes will see the introduction of vote locking and DAO-to-DAO interactions to the Serum DAO governance. The post Solana-based DEX Serum is considering changes to its DAO governance appeared first on The Block.