Solana

<h2 id="header-0">Solana News</h2>Gemini launched a SOL-branded credit card on Monday featuring an auto-staking option that allows users to earn and stake rewards simultaneously.The publicly traded crypto exchange launched the Solana Card as an expansion of its credit card suite, which already includes Bitcoin and XRP versions. All cards offer up to 4% back on purchases in instant crypto rewards.The new product introduces an optional auto-staking feature for Solana rewards, enabling earned tokens to be automatically staked on Gemini for up to 6.77% APY. A Gemini representative confirmed the feature is available for all existing and future cardholders, not just those with the Solana Card.Cardholders who stake their Solana tokens can unstake them anytime, though withdrawal timing varies from a few hours to several days. The design provides the Solana community a way to demonstrate loyalty while earning rewards on everyday purchases.Gemini&#x27;s credit cards provide category-based rewards of up to 4% on gas, electric vehicle charging, and rideshare purchases. Dining transactions earn users 3%, groceries earn 2%, and all other purchases are eligible for a 1% crypto reward.The firm stated that launching a Solana edition was logical given the network&#x27;s momentum and robust community, which has built one of the top ecosystems for new developers. Solana&#x27;s rewards performance has been among the highest available cryptocurrencies on Gemini&#x27;s platform.Users of Gemini&#x27;s credit card products who chose Solana as their reward token and held for at least one year have seen appreciation of around 300%, based on data extending back to 2021 through the end of July. Solana traded below $10 in early 2021 before reaching above $250 by year&#x27;s end.The token crashed to approximately $8 in late 2022 following the collapse of crypto exchange FTX, but gradually rebounded and set a new high of $293 earlier this year. The Solana network has emerged as the sixth-largest crypto asset by market capitalization.Gemini completed its IPO on the Nasdaq Exchange last month following successful crypto IPOs earlier this year. The Winklevoss twins-backed firm offered shares at $28, exceeding initial forecasts and raising over $425 million, with the company valued at more than $3 billion. Shares finished trading Friday at $19.68, down nearly 20% over the previous month.

Gemini Solana Card Offers 6.77% Yield on Purchases

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