Recently Solana has been innovating a lot in its cryptographic space by adding valuable features, such as Photon and Blinks, which significantly improve the user experience.
Photon and Blinks are the latest successful integrations of the blockchain, which are helping to attract capital and interest from retail.
The price of SOL, thanks also to a new wave of optimism due to the news about ETFs, could be positively affected by all this: the price target at the moment is 180 dollars.
Let’s see all the details below.
Summary
Solana and the integration of the exchange for memecoin Photon
Photon is a decentralized exchange for memecoin operating on the Solana blockchain that optimally simplifies the approach to trading.
Thanks to its high speed and low latency in order processing, this platform allows you to go hunting for newly launched coins.
In particular, the section “new pairs” allows you to view in real-time the new low-capitalization memecoins that are added on pump.fun.
Furthermore, users can take advantage of the “quick buy” feature to purchase a coin immediately after its listing, getting ahead of the crowd.
This offers a significant competitive advantage, especially because it minimizes the waiting time between sniping a new token on Solana and the actual trading.
To access the platform, simply go to the official website and connect the phantom wallet, deposit funds into the new Photon SOL wallet, and save the private keys.
Having done this, you can start to set up Photon settings in the best way to be ready, adjusting the amount of the trade, slippage, and priority fee.
Every minute, dozens of new “amatoriali” memecoins are added, with reduced capitalization and initial low liquidity. Usually, the most watched coins are those that are launched with more liquidity compared to the others.
Photon guides us in choosing the best pair by indicating in the “audit results” section when the token developer may engage in improper behavior.
The platform has also launched a points incentive campaign to drive adoption on Solana and attract as many users as possible.
By operating on Photon, you can therefore accumulate points that will be converted into the next governance token of the protocol through an airdrop.
The new Blinks simplify the user experience on Solana: attention also to the risks
After Photon which improves access to trading of memecoin, here is another great innovation launched on the Solana blockchain.
Let’s talk about the so-called “Blinks”, which is a new product offering that allows for faster payments in SOL through shareable links.
Thanks to these, users of the Solana network can incorporate on-chain action requests such as “swap” or “send” within a simple link.
The operation is successfully completed without the user having to leave the website where they interacted with the blink in question.
The invention, similarly to Photon, significantly speeds up the cryptographic interaction process by simplifying the user experience.
The Solana Blinks could attract a wide range of retail users to the Solana chain, thanks to a completely new UX model compared to the classic web3 logic.
The crypto analyst Marty Party agrees that they could represent a revolutionary transactional concept.
“With Blinks, you no longer need markets or other websites. Just post the product or offer and the user interacts and transacts with the post. They never leave your timeline. This makes OnlyFans, eBay, Facebook Marketplace, and everything else redundant. Only on Solana.”
We remind you, however, that Blinks allow both hackers and scammers to better manage scam transactions.
Any Blinks, requiring the “blind signing” on the wallet, does not show in fact the type of on-chain action that is being conducted on the Solana network.
In this way, less honest individuals can easily share links that lead to the draining of funds from other users’ wallets.
Furthermore, Hayden Adams, founder of Uniswap, reminded a few days ago how this type of model is not actually that new.
5 years ago Uniswap adopted a similar interaction technology, but this never gained traction in the crypto space.
SOL price analysis: the coin reacts after the ETF news
As mentioned, the latest Photon and Blinks innovations support the on-chain activity of the Solana network, bringing many transactions and new active users.
Simplifying the use of blockchain and bringing the experience of cryptographic finance to a more elementary level, the aim is mass adoption.
The SOL coin is grateful for the new features, and it maintains a relatively high price, from which a new leg up to the bull could start.
Thanks also to yesterday’s news, with Vaneck that has submitted the first request for an ETF spo on SOL, the cryptocurrency has risen above 145 dollars.
The approval of new exchange-traded funds to invest in the future of Solana could be the determining factor for the success of the coming months.
New ETFs on Solana could indeed attract a significant amount of institutional capital, supporting the price of the crypto.
According to CoinCodex forecasts, in the short term the Solana token could easily surpass the threshold of 158 dollars.
Especially if the enthusiasm for Photon and Blinks products should expand, we might see the bulls take control of the situation on SOL.
It is clear that everything also depends on the price action of Bitcoin, but indicatively the market timing seems to be on the side of a bull run.
After the last 3 months of retracements, it might be time to resume the bull market.
Here is what CoinCodex wrote in its predictions:
“According to our current forecasts on Solana prices, it is expected that the price of Solana will increase by 16.15% and reach $158.41 by July 27, 2024. According to our technical indicators, the current sentiment is neutral, while the Fear & Greed index shows 40 (fear). Solana has recorded 12/30 (40%) green days with a price volatility of 9.41% in the last 30 days.”
