Your Crypto Update & a Closer Look @ Solana (SOL)
Two giants within their respective arenas throw their significant weight behind the layer 1 cryptocurrency Solana (SOL). Your quick crypto update—ICYMI.
Mike Tyson & BoA Back Solana
Despite BoA and Iron Mike’s backing of SOL, on 17 January, another layer one crypto many had written off for dead, Cardano (ADA), made an astonishing comeback in the cryptocurrency market, rising around 30 percent.
That rise was the most significant recovery since e-Toro decided to de-list the cryptocurrency in the USA, along with Tron, the day after Christmas 2021. That 17 January ’22 30% uptick propelled ADA ahead of SOL on the cryptocurrency top 10.
I wrote about that stunning announcement from e-Toro in How to Buy Crypto Without Knowing the Intricate Details.
Even the founder of ADA said it caught him off-guard because he had no notice from any cryptocurrency authority, nor did he receive any Securities & Exchange Commission (SEC) censures or allegations.
There’s currently nothing we’ve received, no regulatory event, no subpoena, nothing from any regulatory agency, no threats of lawsuits, none of these things, that’s why we’re so blindsided by it, because actually, the trend has been over the last six months a significant increase of liquidity on Cardano. — Charles Hoskinson.
An excellent book on crypto investing & NFTs
BTW, if you want to pick up a great deal of knowledge about investing in cryptocurrency. I recommend Ian Balina’s Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More.
It’s available on Kindle for $8.99, and you could choose the audio version, so you can keep busy with other things while listening. Let me know what you think.
“This book is your one-stop-shop on building a deadly working knowledge of the crypto markets and our ideas on how to play them profitably. It's time for the wall of technical smoke and mirrors around crypto to come down, and this book represents an experienced technical team sharing its hard-won knowledge as accessible as possible.
You don't need to be a math genius to trade crypto successfully. But you do need a strong base of knowledge to work from. This book is your foundation.” — Ian Balina.
You could potentially win big with Decentraland
Here’s the Twitter announcement and all the information you need to enter your Decentraland video into the contest. Good luck!
Now that we got some of the other announcements out of the way let’s discuss what we came here to investigate.
About Mike “Kid Dynamite” Tyson, the Former Heavyweight Champion of the World in Boxing
Former World Heavyweight Champion boxer Mike Tyson is still the only fighter under the age of 20 to hold the International Boxing Federation (IBF), World Boxing Association (WBA), and World Boxing Council (WBC) heavyweight championships in the same year. His wins were not “scrubs,” these were guys like Larry Holmes, Tyrell Biggs, Michael Spinks (who beat Muhammad Ali), Tony Tubbs, and Carl “The Truth” Williams. He was the first to unify all three titles.
Born in Brooklyn, NY, in 1966, Iron Mike learned his craft on the streets. It wasn’t boxing then; it was surviving.
Mr. Tyson is no stranger to controversy either, as he was once disqualified for biting Evander Holyfield’s ear off in a fight. Plus, he loves a good blunt now and then as well. He might even spark one up while doing his podcast, “HotBoxin’.
The 55-year-old boxer acknowledged on one podcast that he smoked marijuana while he was a world-champion boxer.
Nowadays, Mike is more concerned with making money easily with Solana (SOL), the crypto he describes as “All in on Solana.” Likewise, though we don’t know the details, he recently bought a Non-Fungible Token (NFT), “Catalina Whale.”
NFT is a non-interchangeable unit of data stored on a blockchain, a digital ledger.
@MikeTyson @CatalinaWhales #Solana $SOL
Bank of America (BoA)
BoA is a worldwide investment bank and financial services holding corporation based in Charlotte, North Carolina. The bank was created in San Francisco and assumed its current form after NationsBank of Charlotte purchased it in 1998.
BoA has a current (19 JAN 22) stock price of $46.26 per share (Ticker Symbol BAC) with a Price-to-Earnings (PE) ratio of 13.86 and a Market Cap of $378.60B.
"Its [Solana] ability to provide high throughput, low cost and ease of use creates a blockchain optimized for consumer use cases like micropayments, DeFi, NFTs, decentralized networks (Web3), and gaming." — Alkesh Shah, BoA Analyst.
What’s more, “Bank of America, America’s largest multinational bank, believes that the Solana blockchain could become the ‘Visa of the digital asset ecosystem.’” — Ekta Mourya from FXStreet.
What is Solana (SOL)?
“Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.” — CoinMarketCap.
Likewise, “The live Solana price today (19 JAN 22) is $140.94 USD with a 24-hour trading volume of $1,426,052,488 USD. We update our SOL to USD price in real-time. Solana is up 0.69% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $44,275,789,721 USD. It has a circulating supply of 314,151,976 SOL coins and the max. supply is not available.”
It is substantially quicker in terms of the number of transactions it can execute and offers reduced transaction costs, often called “gas fees,” than ETH & BTC.
Although it is currently the #7 cryptocurrency, it could make significant strides soon.
Final thoughts
The blockchain was created to facilitate the development of decentralized and scalable apps. Solana (SOL) is substantially quicker in terms of the number of transactions it can execute than ETH and BTC, which everyone should be aware of given these cryptocurrencies’ effect on the environment.
Don’t forget to enter the DLC film contest. Who knows what will interest them. It might be a quick video of you playing Sandbox Evolution or another P2E game.
DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and anything I propose should be considered friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.
#Cryptocurrency #ETH #Bitcoin $SOL
Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.
If you found this information helpful, feel free to heart it and leave a small tip so that I may continue to write and pay the rent.
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