This weekly recap is for informational purposes, not investment advice. Readers will be responsible for all their actions.
Data on-chain
Validators
(Source: validators.app)
The position of the Validators changed compared to two weeks ago because LunaNova took first place, replacing Rustiq Technology. LunaNova is an independent and experienced UK-based operation, utilizing our own custom-built hardware in top-tier datacentres, with systems specially optimized for Solana. The continuous change of positions on the rankings has shown the strong activity of the validators, bringing greater efficiency to the Solana network.
Transactions
(Source: solanabeach.io)
Solana’s transactions remain the same with more than 21 billion transactions with an average of 700 – 100 TPS. It is also understandable that the fast transaction speed and low fees are the competitive advantages of Solana compared to other projects.
Market Capitalization & Trading Volume
(Source: Coingecko)
Solana’s Market Capitalization is $18B with a Trading Volume of $1.72B. It seems Solana is closing the gap with one of its biggest competitors: Polkadot, with a Market Capitalization of over $24B and Trading Volume is equivalent to $2.4B. At the same time, Solana also has to keep a distance from NEAR when this project has a Market Cap that is only $3B behind Solana. The race between these platform projects will continue, especially in the context of crypto becoming increasingly popular as it is nowadays. We need more time to be able to make the correct judgments.
$SOL Performance
(Source: TheSignalyst, Tradingview.com)
SOL is moving around support in the green line, which means buy setups are ready. SOL is creating a trendline, but it has not been validated yet. Therefore, the requirement is to wait for a new swing high to form around it to consider trigger swing on H4.
Panorama of the ecosystem
Top performers on Solana in last 7 days
$LIQ from LIQ Protocol has tripled up than it was last week, making it the first rank performance on all Solana ecosystems. It’s hard to figure out what’s behind this sudden pump because there’s no such thing as great news that can push prices up so quickly. Therefore, we would like to give you a warning.
Top assets transferred to Solana via bridge last 24h
Except for stablecoins (which takes up 91% volume), $ETH, $SRM from Serum, and $KIN from Kin Ecosystem are the three most-transferred assets to the Solana ecosystem. These represent waiting for an opportunity to jump in and catch the bottom when the market is continuously falling.
Important Updated
Saber launched the first Binance USD (wBUSD) trading pool on Solana
Now users can trade wBUSD against any other listed stablecoin (USDC, USDT, UST, PAI, wDAI) on the Saber platform. Everyone can supply liquidity to the wBUSD-USDC pool.
Saber is a decentralized exchange on Solana, optimized for high volume, low volatility asset pairs. Users can trade between crypto-assets of similar value on the exchange side.
Introducing $SBR – The Saber Protocol Token
The Saber Protocol Token (SBR) is a governance token with two main use cases: Steward development of Saber Protocol & collaborate with the community on key parameters and align incentives between Saber stakeholders.
Total supply of SBR is 10 billion tokens. Distribution of SBR is as follows:
- 3,141,592,653.00 SBR (31.42%): Mining Reserve
- 2,510,100,000.00 SBR (25.10%): Partnerships & Ecosystem
- 1,957,900,000.00 SBR (19.58%): Team & Advisors (2 year linear release)
- 1,548,100,000.00 SBR (15.48%): Strategic Fundraise (2 year linear release)
- 842,307,347.00 SBR (8.42%): Liquidity Reserve
Ratio Finance Raises $2.25 Million
Ratio Finance – A DeFi protocol built on Solana announced they raised $2.25 million in a funding round from Rarestone Capital Alameda Research, CMS, Divergence Ventures, New Form, Solana, Raydium, and other investors. Rarestone Capital incubated ratio Finance as part of Rarestone Labs, the fund’s DeFi-focused accelerator.
Ratio Finance is helping to unlock and provide additional liquidity to the Solana ecosystem by allowing Solana users to earn yield, take out collateralized loans, and realize the full potential of their capital, all from a user-friendly interface.
DeFi Land‘s New Partners & Strategic Investor: Jump Capital
Jump Capital is an expansion-stage venture capital firm with operating DNA at its core. With the advantage of networking and big fund, Jump Capital will have the ability to help DeFi Land develop strongly in the future.
DeFi Land is a multi-chain agriculture simulation web game created to gamify Decentralized Finance. This game will have all the features that traditional platforms have, but it will be gathered all in one place.
Mercurial x Parrot: Co-Liquidity Mining Has Begun!
The main goal of this collaboration is to encourage robust and solid liquidity for the PAI stablecoin and help establish broad ownership and confidence in both the stablecoin and the underlying Parrot protocol.
A16z Leads $9M Raise for Phantom Wallet to go Multi-Chain
Other investors also participated in this round, including Variant Fund, Jump Capital, DeFi Alliance, the Solana Foundation, and Coinbase investor Garry Tan. The funding will expand the Phantom team, develop new features & expand to other blockchains.
Steaking launched steaking.io on mainner and testnet!
Steaking is a beginner-friendly non-custodial Solana staking platform. They provide staking Solana service directly on their dash. The mission of Steaking.io is to create the most user-centric staking platform to allow everyone to join in non-custodial staking with just a few clicks.
$SOL is live on CoinList Pro and CoinList Mobile App!
- $SOL – $USD
- $SOL – $USDT
- $SOL – $USDC
- $SOL – $BTC
- $SOL – $ETH
With the recognition of Coinbase Pro, the liquidity and reputation of $SOL will be significantly increased, leading to the further development of Solana in the future.
Partnership
Apricot Finance x Switchboard
This partnership will secure smart contracts on Apricot’s platform and offer Apricot Finance a data-reliable layer to build a decentralized finance structure.
SkyVision Capital x DeFi Land
SVC is a rising Crypto Fund, bringing world-class legal and strategic advisory to DeFi Land, which helps them scale to international markets. DeFi land expects to attract many players from different countries.
Acumen x Switchboard
This partnership will bring new features, using Switchboard oracles to Acumen protocol – A Defi Lending and borrowing protocol built natively on Solana.
Switchboard x Solanax
Solanax is a Solana blockchain-based automated market maker. It will have the opportunity to connect to the community-curated oracle network on Solana from Switchboard.
Apricot Finance x Pyth Network
This partnership improves access to Real-World Data and helps both companies achieve a decentralized financial system that will greatly affect & maximize the use of the system to users.
Pyth is a decentralized, cross-chain market that provides DeFi the data it needs to make smart contracts work smarter. At the same time, Apricot Finance is a decentralized platform for devolved financial solutions, providing over-collateralized loan protocols to its users.
Related Publications
Fantom Weekly Recap Week 49 (1/12 – 7/12)
Near Weekly Recap Week 31 (25/07 – 31/07)
Fantom Weekly Recap Week 44 (27/10 – 02/11)
Solana Weekly Recap Week 47 (17/11 – 23/11)
