Solana is starting the year on a high note after the network performed outstandingly in 2021. Solana native token ($SOL) at the time of publication rose by 1.2% as the global crypto market struggled to rise.
The Solana ecosystem continues to perform remarkably as it recently announced that it is now 100% environmentally friendly. The network also continues to record more projects and is also gaining attention among institutional investors. Here are the Solana Updates from the Solana ecosystem.
1 – Solana Closed 2021 On a High Note
This week we continue from last year, with Solana finishing the year remarkably. Via an official blog, Solana disclosed that the network recorded significant expansion in the just concluded year.
4/ In January, there were no NFTs on Solana.
☀️ 2021 saw the launch of @metaplex and an explosion of NFTs. More than 5 million total NFTs have been minted on Solana. #SolanaSolstice
— Solana (@solana) December 21, 2021
The total value of leading stablecoin USDT and USDC on Solana surpassed $1 billion in 2021. Also, due to DeFi projects built on the network, its TVL hit a record value of $11.4 billion.
Furthermore, Solana disclosed that the ecosystem ended the year with 5,145 projects and 45,500,750,478 transactions.
2 – Phantom Attains Major Growth
Solana-based crypto wallet Phantom has witnessed outstanding growth and expansion since its launch on the Solana network.
The popular Solana wallet and browser extension expressed delight with the growth. According to the announcement, Phantom can now boast 1.8 million monthly active users since its launch in July 2021.
1/4 — 2021 has been an incredible year for Phantom & the @solana ecosystem! We opened up our invite-only beta in March and then launched publicly in July.
In just 9 months we have grown to over 1.8M monthly active users with no sign of slowing down! pic.twitter.com/kY4tjBQuyv
— Phantom (@phantom) January 1, 2022
Additionally, Phantom users in 2021 staked over $16 billion worth of $SOL and swapped over $1.3 billion of tokens. So, users on the crypto wallet carried out over 55 million transactions in the crypto wallet.
Also, it is worth noting that Chris Kalani, co-founder of Phantom, recently disclosed that the platform is planning to launch a mobile version of the wallet.
3 – Fractal Launches On Solana
Solana NFTs community has recorded another addition as Justin Kan, Twitch co-founder, announced the launch of Fractal. Fractal is a gaming-centric NFT marketplace that provides users with a place to shop for avatars.
Justin Kan, via his official Twitter handle, announced the launch. According to the announcement, gaming firms will mint and roll out gaming NFTs for their fans. So, Fractual will aid players in selling NFTs to themselves via its peer-to-peer marketplace.
Today, we are excited to launch our gaming NFT marketplace: Fractal
We are also dropping our Fractal NFTs, the largest NFT airdrop in Solana history ❄️
Also picking one RT to receive a free random Fractal NFT (must follow @fractalwagmi + Fractal discord member) pic.twitter.com/U3rJnYPjgg
— Justin Kan ❄️ (@justinkan) December 30, 2021
Moreover, Fractal noted that it chose to build on the blockchain network due to its low costs and high transaction speeds. Finally, the NFTs marketplace noted that it would contribute immensely to the multichain interoperability of the network.
4 – YetAi Is Bringing AI To Solana
YetAi, a library of 8888 one-of-a-kinds NFTs, has announced plans to bring Artificial Intelligence (AI) NFTs to the Solana ecosystem.
YetAi, via its official Twitter handle, announced its decision to bring AI to the blockchain network. Therefore, the project will grant users access to its unique features, including seminars and merchandise.
YetAi Tribe, the 8,888 NFTs on the #SOLANA Blockchain.
First collection of 100% Artificial Intelligence generated #NFTs.
We do daily contest, giveaways & rewards on our Discord https://t.co/izaD6lgmXE
Stay tuned to not miss out on anything!❄️🥶
Let’s make history together💙 pic.twitter.com/CZ0nS28eJX
— YetAi (@yetai_nft) December 21, 2021
So, YetAi will provide an AI trading bot for users. This will automatically help users buy and sell cryptocurrencies. It is worth noting that users will need a Phantom wallet to mint YetAi directly from the tribe’s website.
5 – Pyth Network Integrate With Neon
The last Solana Updates comes from Pyth Network, has integrated with Neon EVM to unlock HiFi price feeds for developers on Solana.
Also, Pyth noted that the partnership would enable Ethereum applications deployed on Solana via Neon EVM to access its price feeds. Therefore, the partnership will allow Neon EVM dApps to utilize Solana’s low gas fees and high transaction speeds.
8/ For more details about Neon Labs and Pyth, check out our blog post!https://t.co/8DlOFzqjUn
— Pyth (@PythNetwork) December 28, 2021
In a statement, Andrey Falaleev, Chief Technology Officer of Neon Labs, expressed his delight with the integration.
$SOL price update
By the time of writing this article, the price of $SOL on the hour was down by 0.4% and was trading at $175.02. Also, the token has a 24-hour trading volume of $866 million.
Moreover, $SOL had a market cap of $54.1 billion. It currently has a circulating supply of 309 million SOL coins and a total supply of 508 million tokens.
We hope you’ve enjoyed the latest Solana Updates.
Also, you can join us on Telegram to receive free trading signals.
For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.