A recent price rally in the Solana (SOL) market ran out of steam midway as traders' attention shifted to crypto-focused hedge fund Alameda Research's insolvency rumors. Alameda Research insolvency rumors affect SOL On Nov. 7, SOL's price plunged nearly 6% to about $30.50. The intraday selloff came as a part of a broader pullback trend that started on Nov. 5 when SOL peaked at around $38.75. Between then and now, the Solana token is down over 20%. The beginning of SOL's plunge coincided with reports that Alameda Research has liabilities worth $8 billion but may not have liquid assets on …

Solana (SOL) co-founder Anatoly Yakovenko says the past year has been mired by the network's reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. During the Breakpoint 2022 annual conference in Lisbon, Portugal on Nov. 5, Yakovenko discussed the past and future of the blockchain, noting the network has faced difficulties over the past year: “We've had a lot of challenges over the last year, I would say this whole last year has been all about reliability.” Solana has suffered ten partial or full outages according to its own status reporting, the most notable …

During the ecosystem’s annual gathering at Breakpoint 2022 in Libson, Solana made a series of launch announcements as it prepares to go mainstream. Cointelegraph’s ground team — present during the conference — shared insights into Solana’s roadmap, which includes the launching of smartphones, dApp stores and a partnership with Google Cloud, among others. Good morning from @SolanaConf Come say hi if you see us with our Cointelegraph merch Follow this thread to get more updates you on this lovely event! pic.twitter.com/4m2jNaTSNS — Cointelegraph (@Cointelegraph) November 5, 2022 Solana Breakpoint, a four-day conference scheduled from Nov. 4 to Nov. 7, attracted …

Solana (SOL) has been in a steady downtrend for the past 3 months, but some traders believe that it may have bottomed at $26.80 on Oct. 21. Lately, there's been a lot of speculation on the causes for the underperformance and some analysts are pointing to competition from Aptos Network. The Aptos blockchain launched on Oct. 17 and it claims to handle three times more transactions per second than Solana. Yet, after four years of development and millions of dollars in funding, the debut of the layer-1 smart contract solution was rather unimpressive. It is essential to highlight that Solana …

October may have seen a decline in nonfungible token (NFT) trading volume and sales, but analytics firm DappRadar says an 18% growth in monthly unique NFT traders shows the market is still in “great demand.” According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000. This is despite trading volumes falling 30% to $662 million in October, the lowest registered in 2022, while the sales count decreased by 30% to 6.13 million, the firm said, adding: “The rise in the unique traders’ count …

On this week’s episode of Market Talks, we welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo,” a platform that provides quality coaching and education to help traders identify profitable trades on their own. The wide reaching interview covered KJ’s take on how to trade the Federal Open Markets Committee and Consumer Price Index events, along with his views on how Federal Reserve policy is impacting crypto prices. According to KJ: “In regards to what Powell said, and the way the news cycle has been, a few weeks ago I was adamant …

After an impressive 23.7% rally between Oct. 25 and Oct. 31, Binance Chain BNB, has faced a strong rejection from the $330 resistance. Is it possible that the two-day 6% sell-off from the $337.80 peak could indicate that further trouble is ahead? Let’s take a look at what the data shows. Analysts pinned the recent rally to the Oct. 28 news that Binance had invested $500 million in Twitter. However, the network's deposits and decentralized applications metrics have not accompanied the improvement in sentiment. The strong upward movement was largely based on reports that Binance was preparing to assist Twitter …

The ride-sharing industry is poised for another paradigm shift with Web3 protocols, allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications. According to DEC, on the TRIP ecosystem, companies and riders can collaborate and compete in a shared marketplace. The protocol also rewards the most active participants with stake in its governance for both drivers and customers. The first company to operate on TRIP is Teleport, a decentralized ride-sharing application set to be launched in December and …

The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening. While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of …

The lack of a decisive catalyst and the strength in the United States dollar index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from it. The short-term uncertainty in cryptocurrencies does not seem to have altered the long-term view of institutional investors. BNY Mellon CEO Robin Vince said that a survey commissioned by the bank showed that 91% of institutional investors were keen to invest in some type of …

The past eighty days have been moderately bearish for cryptocurrencies as the altcoin market capitalization declined by 16%. The downside movement can be partially explained by the U.S. Federal Reserve’s quantitative tightening, rising interest rates and halting of asset purchases. Although they are aimed at curbing inflationary pressure, the policy also increases the borrowing costs for consumers and businesses. Solana's (SOL) downfall has been even more brutal, with the altcoin facing a 29% correction since August. The smart contract network focuses on low fees and speed, but the frequent outages highlight a centralization issue. The latest setback occurred on Sept. …

The $117 million Mango Markets exploiter has defended that their actions were ‘legal,’ but a lawyer suggests that they could still face consequences. Self-described digital art dealer Avraham Eisenberg, outed himself as the exploiter in a series of tweets on Oct. 15 claiming he and a team undertook a “highly profitable trading strategy” and that it was “legal open market actions, using the protocol as designed.” I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they …