Solana\u2019s native token became one of the recent top performers in the crypto market, surging to a new seven-month high at over $105 before it was finally halted and retraced slightly.<\/p>\n
This substantial rally from under $75 came amid several major developments within the broader Solana ecosystem. Perhaps the most important came from the network itself.<\/p>\n
The network finally succeeded in reducing future SOL issuance. Although the decision could hardly have been any closer, validators approved SGP-0002, which endorses doubling Solana\u2019s annual disinflation rate from 15% to 30%. The proposal finished with approximately 67%, barely clearing the two-thirds supermajority required for approval.<\/p>\n
Helius CEO Mert Mumtaz, one of the most prominent and vocal supporters, summed up the dramatic finish<\/a> by saying his team made hundreds of calls in the final hours and ultimately passed the measure by a \u201cliteral hair.\u201d<\/p>\n It\u2019s worth noting that the proposal does not eliminate inflation. It doubles the speed at which SOL\u2019s existing inflation rate declines each year \u2013 from 15% to 30%, while leaving the network\u2019s terminal inflation rate unchanged at 1.5%. Under the current schedule, Solana was expected to reach that floor in the first half of 2032.\u00a0The new schedule reduces that time by half, bringing it to H1 of 2029.<\/p>\n The trade-off is that normal staking yields are projected to fall faster as fewer new tokens are distributed, which is where most of the arguments against it come from.<\/p>\n The Bitwise Solana Staking ETF (BSOL) became the first exchange-traded fund tracking the altcoin to surpass the coveted $1 billion target in assets under management on Friday. It saw the light of day last October, meaning that it took around 10 months to do so.<\/p>\n What\u2019s particularly interesting here is that this achievement occurred despite SOL\u2019s broader price performance. As Bitwise President Teddy Fusaro pointed out, BSOL shares remain about 40% below their listing prices, while SOL itself is still 60% away from its ATH.<\/p>\n BSOL held more than 9.3 million SOL when it crossed the $1 billion mark. It targets staking 100% of its holdings, while the net staking reward rate currently stands at around 5.8%.<\/p>\n Lookonchain data from earlier today showed that two major Solana whales have continued to withdraw major holdings from exchanges after completing significant accumulations. A wallet ending with 3WzfuP withdrew almost $3.9 million in SOL from Kraken, while another one, ending with 5p6zPz, transferred<\/a> nearly $30 million worth of the asset from Binance.<\/p>\n SOL\u2019s price has been on the move lately, surging to a six-month peak at over $105 on Friday before the broader market\u2019s correction drove it south. Nevertheless, it remains well above $100 after a 42% monthly surge. Some analysts believe<\/a> more gains are around the corner, with predictions ranging from $150 to $300.<\/p>\n The post 3 Major Solana (SOL) Developments You Should Know About<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Solana\u2019s native token became one of the recent top performers in the crypto market, surging to a new seven-month high at over $105 before it was finally halted and retraced slightly. This substantial rally from under $75 came amid several major developments within the broader Solana ecosystem. Perhaps the most important came from the network […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-219968","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/219968"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=219968"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/219968\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=219968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=219968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=219968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}SOL ETF Breaks $1 Billion Milestone<\/h2>\n
Whales Go Big<\/h2>\n