Solana stablecoin Nirvana sinks 90% amid $3.5 million flash loan exploit

The attacker used a $10 million flash loan from Solana lending pool Solend to drain $3.5 million from the Nirvana treasury. The post Solana stablecoin Nirvana sinks 90% amid $3.5 million flash loan exploit appeared first on The Block.

Timeline of Solana

A recent comprehensive research report looked at the Solana platform and identified three “critical events on the horizon” that could collectively “serve as the tailwind for cutting through challenging macro forces and bring significant activity and value to the network.

The crypto market is currently going through one of those weeks where uncertainty increases. As a result, crypto prices have assumed a bearish trajectory and SOL is among the digital coins that have retraced significantly after a bullish phase.

Magic Eden, the leading community-centric, non-fungible token marketplace on Solana, has announced a successful partnership with popular move-to-earn NFT game Genopets to launch the semi-fungible

New data from crypto insights firm Messari reveals that Solana (SOL) is emerging as a challenger to leading smart contract platform Ethereum's (ETH) non-fungible token (NFT) market dominance. In a recent report, Messari says that even though Solana's overall usage declined in Q2 of this year, its NFT activity has greatly accelerated.

Non-fungible tokens, or NFTs, have become a very intriguing vehicle to collect digital art or gain utility in the Metaverse. Unfortunately, many projects offer none of that functionality and aren't flexible enough to warrant any other approach.

Solana's second-quarter data published by Messari underlined a gamut of challenges for the US$12.7bln blockchain, including a spate of network outages and below-par token prices, but the platform shined in other respects. Messari warned that: “An area of concern is network reliability.

Solana non-fungible token (NFT) sales plummeted during June due to the bearish trends in the digital collectibles market.  The post Solana Hits All-Time Low in NFT Sales Volume, Tumbling More Than $200M  appeared first on BeInCrypto.

Solana's price witnessed a 15% decline over the past two weeks. With the marketwide correction ahead of the FOMC meeting on Wednesday, Solana's price is likely to drop to $31.77 and support at $29.59.

The Solana price analysis reveals the price is increasing once again as the bullish momentum has been on the rise for the past few hours. The bulls are trying to find their way to recovery and have taken the price to the $37 level after consistent efforts.

Amid crypto market bearish turmoil, Solana's active validator count has reached an impressive figure of 1,875 recently. This goes on to show how this blockchain is far more secured and decentralized than others in the crypto industry.