SOLANA NEWS, ANALYSIS AND FORECAST
Latest Solana News
Solana Technical overview
Latest Solana Analysis
Editors' picks
Dogecoin sustains bullish outlook, but surge in supply in profit poses risks
Dogecoin edges higher on Friday, backed by increase in speculative demand. DOGE’s Open Interest hits $3.4 billion, while volume increases to $6.5 billion. Dogecoin’s supply in profit rises, adding to the risk of profit taking.
Pi Network flashes bullish potential ignoring the community concerns
PI price action forms an Adam and Eve pattern setup, signaling a potential bullish reversal. Pi Network invests in OpenMind, an AI robotics startup that has raised $20 million in funding.
Crypto Today: Bitcoin uptrend takes a breather as Ethereum, XRP bulls tighten grip
Bitcoin price approaches $118,000 round-figure resistance but then retraces amid steady spot ETF inflows. Ethereum surges 16% from last week’s support as bulls tighten grip, aiming for highs above $4,000.
Bitcoin Weekly Forecast: BTC bulls target $120,000 as Trump moves to allow crypto in 401(k) plans
Bitcoin price closes above the $116,000 resistance, with bulls setting sights on the $120,000 level. Trump signs an executive order enabling cryptocurrency assets in 401(k) retirement accounts.
Bitcoin: BTC bulls target $120,000 as Trump moves to allow crypto in 401(k) plans
Bitcoin (BTC) looks set to close the week in the green, breaking above the $116,000 resistance, as market optimism swelled after United States President Donald Trump signed an executive order to include alternative assets, including crypto, in US 401(k) retirement accounts.
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ETH
XRP
What is Solana?
Solana is a blockchain network that leverages novel techniques to host decentralized applications and crypto tokens.
Proposed in 2017 by Anatoly Yakovenko, Solana is home to hundreds of applications across decentralized finance (DeFi), GameFi, SocialFi and non-fungible tokens (NFTs) protocols.
Solana's uniqueness comes from its ability to process a large number of transactions at low fees – thanks to its Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus process.
PoH works by cryptographically generating publicly verifiable proofs of the passage time between events in a blockchain network, making it difficult for bad actors to tamper with a network's timestamp.
PoS, on the other hand, leverages a system where users put their coins at stake to validate transactions. The system rewards users with cryptocurrency rewards and punishes bad behavior by slashing their staked coins.
With the combination of both PoS and PoH consensus mechanisms, Solana can theoretically process up to 710,000 transactions per second.
Its native cryptocurrency, also named Solana (SOL), is central to this consensus process. SOL is used for paying transaction fees on the network and ranks as the sixth-largest crypto asset by market capitalization as of July 8, 2025.
Non-fungible tokens and several cryptocurrencies, known as Solana Program Library (SPL) tokens, also run on the Solana blockchain.
Solana has also become a prominent platform for launching meme coins in recent times due to its high throughput and low fees.
Solana wallets
Solana wallets allow users to interact with the Solana blockchain network and the various applications that run on top of it, as well as manage their SOL, SPL tokens and NFTs.
Most Solana wallets are specifically designed to process only Solana-based transactions, except when a user decides to use a multi-coin wallet.
- Web wallets: This type of wallet allows users to store, send and receive Solana-based assets while enabling access to decentralized applications. Web wallets manage users' private/public keys through browser extensions or mobile applications.
- Hardware wallets: These are physical devices that enable users to manage their Solana private keys offline. Unlike web wallets, hardware wallets do not have internet connectivity unless they are connected to a computer.
- Exchange Wallets: These wallets are automatically created on behalf of users who use cryptocurrency exchanges. The user doesn't have to worry about managing their private keys as the exchange manages the entire process. However, exchange wallets are often criticized due to their centralized nature and risk of susceptibility to hacks.
Best cryptocurrency exchanges to buy Solana
There are several factors to consider before choosing an exchange to buy cryptocurrencies. With hundreds of exchanges available, selecting one that aligns with your trading or investing preferences is important.
Crypto exchanges are divided into two major categories – centralized and decentralized exchanges.
Centralized crypto exchanges are platforms that operate under the supervision of a third party. This means that a central authority oversees the actions of every user on the exchange.
Decentralized exchanges operate without the involvement of third-party intermediaries. These exchanges use smart contracts known as automated market makers (AMMs) to manage trades between users.
However, before exploring the product suites of a crypto exchange, investors should ensure that it legally operates within their locality. It's not advisable to trade on unregulated exchanges due to the associated risks. In certain countries, trading on an unregulated exchange could attract a penalty for the user. In the United States, the body that regulates exchanges is the Securities & Exchange Commission (SEC).
Another factor to consider when choosing an exchange is its interface. Typically, newer investors are advised to select exchanges with simple features for easy navigation. Most popular exchanges often offer simpler services to new users to avoid unnecessary complexities while using the platform.
Investors may also consider factors such as an exchange's asset range, deposit/withdrawal options, on/off ramp solutions and security measures.
Furthermore, it's advisable to consult prominent review websites before choosing an exchange, as poor reviews are a potential red flag. FXStreet offers reviews for several exchanges where you can trade cryptocurrencies, stocks, commodities and fiat currencies.