Coinbase Launches cbBTC on Solana
Coinbase launched cbBTC, a Bitcoin-backed SPL token on Solana, with Coinbase as custodian. Coinbase has now announced that cbBTC will be the first token on Solana to have Bitcoin backing. Coinbase is the custodian of the newly created SPL token, which has a 1:1 backing from Bitcoin. Users will have an easier time gaining access […]
What Influenced Solana Trading Volume Breakout?
In October, Solana emerged as the primary focus due to its high transaction volume and fee generation, a trend that Glassnode attributes to a wallet. Solana (SOL) has experienced a commendable increase in its transaction volume metric. This metric reached its maximum value of approximately $224 billion in a single day, as evidenced by the […]
DeFi Report: Ethereum reclaims 42% Solana outflows
DeFi Report founder Michael Nadeau outlined that most Ethereum value moved to layer 2s, which would drive value to the layer-1 blockchain. While Solana has received inflows from other blockchains, a significant portion of that value has flowed back to Ethereum, according to Michael Nadeau, founder of The DeFi Report. In an X post , […]
Canary Capital Files Solana ETF Application with US SEC
The crypto asset manager has filed for a spot Solana ETF, following earlier filings for XRP and Litecoin ETFs in October. Crypto asset manager Canary Capital has filed with the U.S. Securities and Exchange Commission for a spot Solana exchange-traded fund (ETF), following similar applications by VanEck and 21Shares. The proposed spot Solana ETF would track […]
Starknet Records 857 TPS, Averages 127.5 Stress Test
Starknet’s new TPS record suggests that Ethereum has scaling potential, but it also raises key questions concerning real-world scalability. On Oct. 29, Starknet, an Ethereum layer-2 (L2) scaling solution, achieved a significant milestone by reaching a peak of 857 transactions per second (TPS) during a controlled stress test. The test recorded an average of 127.5 TPS […]