Solana Weekly Recap Week 45 (4/11 – 11/11) - CryptocoinStart

Solana and the Solana ecosystem are constantly growing and moving forward. To help you not miss any news & movements of the ecosystem in the last 7 days, here is your Solana Weekly Recap.

Key Takeaways

Solana Solend whale has been liquidated.
Neon EVM will go live on mainnet on 12/12/2022.
Circle will issue $EUROC on Solana.
Solana celebrated the NFT contest on Instagram.

Ecosystem Updates

Solana ecosystem is facing many difficulties when facing constant challenges from many sides. Let’s review the hottest events of the past week with Solana daily.

1. Market Data

Solana Solend Whale Has Been Liquidated

The whale that made Solend stand sculpting over 2 months ago has been officially set at SOL $21.

Big Whale Loan on Solend – Source: Solend Protocol

This is extremely bad when this whale wallet owns a large amount of SOL, causing the price of SOL to drop immediately after that.

This combined with the collapse of FTX inadvertently put the Solana ecosystem into a huge challenge.

The validators have continuously unstake their SOL, currently the value has reached more than 50 million USD, this amount of SOL after unstake is likely to be sold off to preserve capital.

Solana Weekly Recap Week 45 (4/11 - 11/11) - 2 — SOL Token – Trading View

2. Solana Network

Solana Weekly Recap Week 45 (4/11 - 11/11) - 3 — Solana Network – Source: Solana Daily

Neon EVM will go live on mainnet on 12/12/2022

Neon EVM is the first and only EVM on Solana, and it will have a profound impact on both the Ethereum and Solana ecosystems.

For Ethereum projects aiming to expand into new ecosystems, differing programming languages are no longer a concern.

Developers familiar with Solidity, Vyper, and the existing Ethereum smart contract languages can now use Neon EVM to deploy on Solana.

3 – DeFi

Solana Weekly Recap Week 45 (4/11 - 11/11) - 4 — Solana DeFi Highlights – Source: Solana Daily

Circle Issues $EUROC On Solana

On stage at Solana Breakpoint, Circle, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin, announced plans to expand native support of Euro Coin and access to their new permissionless cross-chain infrastructure, Cross-Chain Transfer Protocol, on Solana in the first half of 2023.

A regulated, euro-backed stablecoin, Euro Coin is issued under the same full-reserve model and built on the same pillars of trust, transparency, and security that have made USDC one of the world’s most widely-used dollar digital currencies with over $42 billion in circulation as of November 4, 2022.

Together, Euro Coin and USDC aim to bring faster, inexpensive transactions to global commerce and unlock new opportunities for multi-currency digital finance and on-chain foreign exchange (FX), where daily volume in traditional markets can top $6.6 trillion globally.

4 – NFTs

Solana Weekly Recap Week 45 (4/11 - 11/11) - 5 — Solana NFT Highlights – Source: Solana Daily

Solana Has Celebrated The NFT Contest On Instagram

Not long ago, Meta, the parent company of Instagram announced that their platform will officially become an NFT marketplace. More specifically, Instagram and Facebook have integrated with the Solana blockchain to allow users to showcase their NFT collections.

The Solana Foundation has teamed up with leading NFT ecosystem creators, marketplaces, and infrastructure projects to celebrate with a special contest.