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Stock markets continued with their winning streak while investors waited for earning releases this week. The broader cryptocurrency barely moved. The top mover for today is SOL, which has gained more than 82% right in the past month as the TVL recovery surpasses competing chains and XRP’s partial win revives investor sentiments.
SOL’s recent price rebound has surprised the community, which jumped 87% in the past month and has been up 170% since its bottom price in late December. The community on the Solana ecosystem has been active, leading to TVL surging 51.4% in the past month, the highest growth among the top 10 DeFi blockchains. The future catalyst for the token price includes the official sales of its smartphone Solana Saga.
Nonetheless, SOL’s NFT and DeFi projects have migrated into Polygon and other competing blockchains following FTX’s fallout. The community exodus has seemingly halted, but it won't likely return to its hefty days. Also, the TVL surge is partly attributable to token price recovery, where it is unclear how many new users were added to the network.
Check Out the Latest Prices, Charts, and Data of SOL/USDT Here!
Unstoppable Domains, a digital identity platform, is now supporting Ethereum Name Service (ENS) domain endings, allowing users to register simpler names for their long wallet addresses on the Ethereum blockchain. The platform is offering .eth domains for sale and introducing new features such as auto-renewal and a vault for domain custody. It will support fiat payments, allowing users to buy domains with credit cards, PayPal, Apple Pay, or Google Pay, in addition to cryptocurrencies. Unstoppable Domains and ENS are leading the industry in digital identity preservation with 3.6 million registered Unstoppable Domains and 2.7 million ENS domain holders. The company is working towards developing an industry standard through its participation in the Web3 Domain Alliance.