Bullish on Solana

Updated: Jun 7

Price: $43.22 [$11B Market Cap]

Supply Cap: 494 Million (272M are in circulation)

Rank: 15

DeCrypt Media, on June 4th, 2021, published an exclusive article about Solana raising up to $450MM to challenge Ethereum. I currently publish a weekly article for the Gokhshtein Media newsletter called "Follow Dat Money" where I track the money flowing into Digital Assets and Blockchain Technology projects.

The following is a curation highlighting Solana and its projects that are receiving funding.

Mar 25: Solana Ecosystem raises $40MM in strategic investments from OKEx, MXC exchanges (Cointelegraph)

Apr 13: DeFi tracker Step Finance raises $2MM from Solana ecosystem investors (Cointelegraph)

May 06: Banksy Burners Raise $3MM to Build NFT Platform on Solana (Coindesk)

May 07: 5 New Funds Bring $100MM to Boost Growth of the Solana Ecosystem (Coindesk)

May 26: DeFi Alliance backs Mercurial Finance with $100K, its first Solana project (The Block) Jun 03: The Solana Foundation and ROK Capital Launch a $20MM Fund (CryptoPotato)

As you can see things are speeding up and adding power to the movement of Solana becoming a powerhouse platform to build on top of. Now here is the issue for those of you living in the wonderful USA - it's not available for you to purchase on regulated exchanges; except Crypto.com (.03% of the volume is being traded there.) It will soon be available on Coinbase Pro but right now you can only deposit tokens there not buy or sell.

However, there is a known process where folks leverage VPNs to use platforms that are outside the US jurisdiction and that's a call for you to make.

According to CoinMarketCap the most volume (33%) is being conducted on Binance; the beast of all exchanges. Now I've heard from some that they still use Binance? I am not sure how when it was reported last year that Binance finally blocked all US residents. Binance does have a US version (not available for Texas residents) but it's only seeing 3.45% of the volume for this asset.

Update (Jun 07): One of NYSE's largest market-makers is joining a Solana-based data project (The Block)

Bottom line: Solana is a platform you should LEARN more about and put on your watch list and when it's available for purchase be it on Gemini, Kraken, Coinbase, or others - it's one you might want to add to your stash.

To see all the news daily - visit https://www.thecryptocurator.com/ - DAILY :)

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