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The SPX index is up 1.05%, the U.S. stock market closed higher after the Federal Reserve decided to keep interest rates steady within the 5.25% to 5.50% range. The broader cryptocurrency market is up, with Bitcoin and Ethereum rising 1.89% and 2.14% respectively in the past 24 hours.
Today’s outperformer is SOL, which surged 8.5% in the past 24 hours as Neon EVM on Solana achieves full interoperability with Solana Virtual Machine through deBridge’s new IaaS solution.
Solana (SOL), launched in March 2020, is a blockchain similar to Ethereum but uses a more efficient proof-of-history consensus mechanism for defining blocks. Unlike the energy-intensive proof-of-work used by earlier cryptocurrencies, Solana's system aims to be faster and less resource-heavy. The SOL token is used for transactions on this network. Neon EVM, which serves as an Ethereum Virtual Machine on the Solana blockchain, has revealed that it's integrating with deBridge's newly launched "interoperability-as-a-service" (IaaS) offering. This move aims to facilitate seamless cross-chain interactions within blockchain ecosystems. Neon EVM is the inaugural customer to employ deBridge's IaaS for achieving full compatibility with the Solana Virtual Machine.
Pyth Network has launched a retrospective cross-chain token airdrop targeting over 75,000 wallets across 27 blockchains and 200+ dapps. Aimed at rewarding contributors to the oracle network, the airdrop includes ecosystems such as Ethereum, Solana, and Polygon. Those involved in the project's official Discord roles and holders of Pyth Network NFTs are also eligible. The initiative intends to acknowledge the vast community supporting the Pyth Network and is described as the most significant known cross-chain airdrop in web3 and DeFi. PYTH tokens, native to Solana, are allocated from the network's "Community and Launch" pool. The objective behind the airdrop is to foster participation in on-chain governance, moving Pyth Network towards a decentralized mainnet. Details on how to claim the allocations will be released later, and users are warned to remain vigilant of potential scams.