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.
Table of Contents
- Solana market data highlights.
- UkiyoNFT hit the top 1 most-traded NFTs on Solana last 7 days.
- Nitro Labs announced building a Layer 2 for the Solana network.
- SEC has insinuated that $SOL token could now be securities.
- Magic Eden updated its roadmap for the APE marketplace.
- The Metaplex Foundation launched its utility and governance token – $MPLX.
Despite the recent problems relative to the Solana network, the NFT market has always been the bright spot that makes Solana stand out. Let’s take a look at some critical information from the big projects below:
1 – Solana Market Data Highlights
UkiyoNFT hit the top 1 most-traded NFTs on Solana last 7 days
In the past week, the Ukiyo NFT collection has dethroned the y00ts collection in terms of the trading volume. Yukio’s price hit ATH on September 8, 2022, now corrected down 30% from its peak.
In addition, Yukio was mentioned by Lite(USG) – a famous Kol on the Solana ecosystem, he emphasized that he would continue to hold this collection.
2 – Solana DeFi Events Last week
Nitro Labs announced building a Layer 2 for the Solana network
According to Nitro Labs, they will act as the gateway between Solana and Cosmos. Specifically, Nitro will build Layer 2 for Solana combining the strong implementation environment of Solana, and the developer community with strong development of the ecosystem and IBC.
- Nitro has been built on Sei Blockchain which will supercharge DeFi performance on a blockchain that is purpose-built for DeFi.
- Nitro is taking the first step in making the Sealevel VM (SVM) a core development standard like the EVM.
- Nitro will feature SVM compatibility that enables developers to easily launch their Solana dApps on Nitro and access the broader Cosmos and IBC ecosystem.
- Apps built on Nitro can leverage the SVM for high performance while gaining interoperability that is native to IBC.
SEC has insinuated that $SOL token could now be securities
If you participate in the market long enough, you probably know that sec regularly classifies cryptocurrencies as securities XRP is a typical example. By many different forms of evaluation, many POS tokens are now listed on this list of SEC, including SOL Solana.
If these things happen, the host companies of these tokens will apply sanctions from the SEC, the exchanges will also be affected by trading tokens as this stock.
3 – Solana NFTs Events Last week
Magic Eden updated its roadmap for the APE marketplace
Magic Eden always tries to support the Apecoin community for more than 2 months. To strengthen her beliefs
and determination, Magic Eden launched Roadmap about Apecoin Dao Marketplace.
The community is currently voting for Magic Eden on this issue. However, the opposition is currently very large, and the possibility of Magic Eden will fail again in approaching the largest collection of this NFTS market.
The Metaplex Foundation launched its utility and governance token – $MPLX
Metaplex is a collection of tools, smart contracts, and more designed to make the process of creating and launching NFTs easier. If you have launched any projects using the Metaplex Protocol, you may be eligible for the airdrop.
Check your eligibility here
Additional Notable Events
- @SolanaFndn released the most recent Solana Energy Use Report
- Hawk is building Solana’s Largest Yield Aggregator
- @orca_so introduced the Orca Climate Fund
- @MarinadeFinance introduced the $mSOL Cookbook covering DeFi strategies
- @SharkyFi has been close to 200k $SOL in total loan volume
- @MonkeDAO announced an approved grant from @SolanaFndn!
- Thanks to @crossmint_io, $ETH & $SOL NFTs coexisting seamlessly on @MagicEden
- @magpieprotocol raised $3M Seed round
- @HubbleProtocol raised $5M Strategic Round
- @exchgART raised $3.2M Seed round
- @MagnaTokens raised $15M seed round