Solana validators are backing two linked proposals, SIMD-0550 and SIMD-0553, to reduce SOL issuance and increase SOL burning. SIMD-0553 would introduce resource-based transaction fees, raising daily SOL burns from about 650 SOL ($47,000) to up to 9,000 SOL ($650,000). SIMD-0550 would double the disinflation rate, bringing the network's terminal inflation rate of 1.5% forward from 2032 to 2029, cutting emissions by nearly 19 million SOL over six years. The proposals have gathered 24.94 million SOL in initial support but need roughly 40 million more SOL backing by August 18 to reach a vote. If passed, these changes would tighten SOL supply by burning more tokens and issuing fewer new ones, impacting Solana's inflation dynamics significantly.
XRP spot ETFs continued to attract inflows for the fourth consecutive day, led by Canary's XRP product, highlighting growing investor interest and a notable share of XRP's market cap held in ETFs. In contrast, Hyperliquid ETFs experienced net outflow...
A Solana-based meme coin called OnlyMarms has raised over $14,000 for a 64-year-old marmot study, surpassing the $6,000 raised via the study's OnlyFans page. The Marmot Adaptive Dynamics Lab turned to these alternative fundraising methods after a key...
Solana's blockchain network saw a record 4.244 billion transactions in July, driven by increased user engagement and demand for fast trades and DeFi applications. The network outpaced rivals like BNB Chain and Bitcoin in daily active users and on-cha...
Bitcoin is trading above $63,900, showing a modest gain of about 1.06%, while other major cryptocurrencies like Ethereum and Binance Coin show slight declines or gains. The market exhibits mixed performance with some altcoins like ADA and ALGO rising...
Bitcoin rose above $63,800 following the strongest US ISM Manufacturing PMI in over four years, signaling economic expansion without immediate inflation pressure. Oil prices fell sharply after the US called off strikes on Iran, easing geopolitical te...
