Brave announces partnership with crypto Solana (SOL): dApp support for mobile devices will soon be available. Following Brave Software’s announcement, the price of Solana crypto has increased significantly in the last 24 hours.
As reported on Twitter, Brave will allow the wallet to store, send and purchase Solana support tokens. It is worth mentioning that Solana is a programmable blockchain that strives to execute transactions at high speed without losing its main feature, decentralization.
SOL, the blockchain’s native token, is used for transaction fees and can also be staked. Moreover, Solana is a direct competitor to the Ethereum network.
Solana-Brave partnership to promote easy access to crypto
Regarding the news, Amelia Daly, Head of Partnerships at Solana Foundation, said:
“User experience can be very fragmented in cryptocurrencies. Brave DApp integration is important because it allows seamless browser-based connections to your favorite Solana programs and is optimized for mobile devices.”
Brave’s official Twitter profile said the following:
.@Solana DApp support is now available on Brave for iOS and Android!
— Brave Software (@brave) February 7, 2023
Brendan Eich, CEO and co-founder of Brave, said:
“Brave is increasingly the browser of choice for the Web3 world and with the addition of Solana DApp support on mobile devices, we are expanding that reach to another key group who are looking for fast and friendly ways to use their cryptocurrencies on the go.”
Focus on the price of the Solana (SOL) crypto
In addition, against the backdrop of the new Brave-SOL integration, millions have been moved from Solana whales. Whale Alerts recorded significant transfers on Solana worth 7,981,517 SOL, about $184,488,088, across portfolios.
Currently, Solana (SOL) is trading on CoinGecko for $23.65. SOL has seen a 1.5% price increase in the previous 24 hours.
However, it has lost the same value compared to its prices over the past week. With 370 million SOL in circulation, Solana has a market capitalization of $8.83 billion.
On 6 November 2021, SOL touched a record price of $259 and is currently 90.9% below that peak range. That said, SOL is ranked 12th in the cryptoverse.
In fact, after losing significant value due to network outages, the network has recovered this year. Aside from the repeated outages, the repercussions of the FTX collapse had affected SOL and the broader market.
However, founders Anatoly Yakovenko and Raj Gokal recently said that despite the erratic state of the cryptocurrency industry, a bright future for the network is evident.
According to DefiLlama, SOL has 92 protocols and a total locked value (TVL) of $262.74 million. It is the 12th largest DeFi chain on the platform.
SOL back in top 10 crypto assets after 135% rally
Recently, Solana also surpassed Polygon, specifically on 15 January, as the 10th largest crypto asset by market capitalization, after a seven-day rally that saw it climb more than 70%, according to CoinMarketCap data.
However, this lead has been lost to MATIC’s stronger performance in recent days.
After the collapse of FTX in November, SOL’s price performance was negatively impacted by its relationship with Sam Bankman-Fried. However, positive sentiments seem to have returned to the digital asset, as it has gained about 135% since the beginning of this year, making it one of the best performing cryptocurrencies in 2023.
In detail, at the height of the FUD, Solana was trading as low as $9 and two of its major NFT projects abandoned it for other blockchain networks.
Then again, its massive price performance over the past two weeks has more than doubled its value to $23.34 at the moment. The impressive run has also seen it re-enter the top 10 digital assets by market capitalization.
According to CoinMarketcap data, Solana’s market capitalization has risen to over $9 billion in recent weeks from $5 billion. In this regard, the co-founder of a gaming project on Solana, Mamba, said the faith of network believers has been repaid as SOL has gained 165% in 15 days.
According to Mamba, the demise of SBF has been good for blockchain and the network’s technology is improving.
A sidenote about Solana Active Wallet
Worth a little insight is Solana’s active wallet, which has grown more than three times since FTX collapsed in November, according to data from Messari. Delphi Digital data also show that decentralized exchanges (DEXs) on Solana have seen an 83% increase in total active wallets since the beginning of 2023.
According to Delphi Digital, the total number of active wallets on Solana has increased to 83,000 from nearly 45,000 per day.
As reported earlier by BeinCrypto, the increase in the number of active wallets on Solana coincided with the rise of a new memecoin, Bonk Inu, within its ecosystem. The memecoin has rallied more than 130%, bringing interest back into the ecosystem.