Solana Blockchain Sees Growth Amid Integrations and Network Activity
- Solana blockchain sees record new addresses and PayPal integration.
- LayerZero includes Solana for DeFi, NFTs, and gaming applications.
- Concerns over Solana's resilience persist despite network growth.
- BlackRock funds invest in own Bitcoin ETF shares.
- Semler Scientific adopts Bitcoin as treasury reserve, stock price soars.
- Riot Platforms offers $950M buyout for Bitfarms amid CEO dispute.
Summary :
The Solana blockchain has experienced significant growth during this bull cycle, with a surge in network activity and integrations. Between March and April, the network saw a record 55 million new addresses created, driven by the memecoin frenzy and decentralized applications like DePINs. PayPal recently joined Solana's ecosystem by integrating its stablecoin, PayPal USD (PYUSD), into the network, aiming to enhance its utility for daily transactions. Additionally, Solana was included in LayerZero's network of over 70 chains, thanks to its high throughput and low transaction fees. However, challenges remain for Solana, as concerns about network resilience persist. The Firedancer upgrade is expected to address these concerns in the coming months. In other news, BlackRock's investment funds have added shares of its own Bitcoin ETF to their portfolios. The Strategic Income Opportunities Fund purchased $3.56 million worth of iShares Bitcoin Trust (IBIT) shares, while the Strategic Global Bond Fund made a $485,000 purchase. Semler Scientific saw a 30% increase in its stock price after announcing that it had adopted Bitcoin as its primary treasury reserve asset, purchasing 581 BTC for $40 million. Riot Platforms has proposed a $950 million buyout of Bitfarms, a Canadian Bitcoin mining firm, amid internal management turmoil. Finally, Cathie Wood's ARK Invest has invested in Elon Musk's AI startup, xAI, with the new investment constituting about 2% of the fund's holdings.
Sources :
- CoinTelegraph
