Zeus

Solana

Zeus Network

EigenLayer

Jito

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/why-is-solanas-price-increasing/" data-wpel-link="internal">Why Is Solana’s Price Increasing?</a><br></p>
<p class="p1" style="text-align: justify"><strong>Solana</strong> price is on the rise today, showing an increase of over 10% in the last 24 hours, reaching $136.60 on May 2nd. This represents a 15% increase from the week’s lowest level of $118.90 seen one day earlier. The recovery in SOL came after significant drops due to fears of smaller interest rate cuts by the Federal Reserve.</p> 
<h2 class="p1" style="text-align: justify" id="why-is-solana-rising">Why Is Solana Rising?</h2> 
<p class="p1" style="text-align: justify">Today’s news highlights that Jito Labs, a company specializing in Solana infrastructure, has developed a reassessment solution similar to the service offered by EigenLayer in the Ethereum ecosystem. The term restaking typically refers to a process where validators can stake existing Proof of Stake (PoS) assets across multiple layers without needing extra tokens, providing additional security and services.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-347197 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/sol.png" alt="" width="2674" height="1316"></p> 
<p class="p1" style="text-align: justify">Following the report, the total value locked (TVL) in Jito’s liquid staking smart contracts rose from 9.92 million SOL on May 1st to about 10.5 million SOL on May 2nd. During the same period, Solana’s TVL data increased from 26.45 million to 27.21 million SOL.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-347196 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/tvl.png" alt="" width="1518" height="878"></p> 
<p class="p1" style="text-align: justify">Overall rising <a href="https://en.coin-turk.com/pancakeswap-announces-new-version-and-development-fund/" data-wpel-link="internal">DeFi</a> data suggests that rumors about Jito’s restaking service have stimulated demand for SOL, pushing up the cryptocurrency’s price.</p> 
<h2 class="p1" style="text-align: justify" id="solana-and-bitcoin-integration">Solana and Bitcoin Integration</h2> 
<p class="p1" style="text-align: justify">Today’s rise in Solana coincides with the announcement of a new inter-chain bridge service that connects <a href="https://en.coin-turk.com/the-final-stretch-for-spot-bitcoin-etf-approval/" data-wpel-link="internal">Bitcoin</a> with Solana, potentially launching in the third quarter.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-347195 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/sol-grafik.png" alt="" width="2676" height="1308"></p> 
<p class="p1" style="text-align: justify">The Zeus Program Library (ZPL) system, developed by Zeus Network, works with the Apollo bridge protocol to allow users to convert their Bitcoin into wrapped zBTC tokens using ZPL. These tokens can then be used in the Solana ecosystem for trading on decentralized exchanges, participating in the <a href="https://en.coin-turk.com/the-state-of-nfts-in-2023-and-future-prospects/" data-wpel-link="internal">NFT</a> market, and engaging in various activities such as borrowing, lending, gaming, and Social Fi platforms.</p> 
<p class="p1" style="text-align: justify">The integration of Bitcoin, one of the largest and most widely used cryptocurrencies, into Solana presents significant potential for increased transaction volume. This expectation could boost demand for SOL, necessary for network transaction fees, and possibly explain why investors responded positively to the Zeus Network announcement.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/why-is-solanas-price-increasing/" data-wpel-link="internal">Why Is Solana’s Price Increasing?</a></h5>

Why Is Solana’s Price Increasing?

Obsah

COINTURK NEWS

Ďalšie články zverejnené 2. 5. 2024

Solana Prediction: How can Solana Improve?

Top Meme Coins To Buy Wednesday, May 1 – Slerf, Catecoin, Shrimp, Dogeverse

Quickex Reaches New Heights: 200+ Coins Now Available!

Ethereum: SEC Chair Allegedly Lied to Congress

Analyst Predicts Summer Downturn in Bitcoin Options Trading

Bitcoin Dip Acquisition By ‘Mr. 100’: Is This a Sign Bitcoin Has Bottomed Out?

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!