fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Solana Experiences Significant Ecosystem Growth with Stripe and PayPal Integrations

Solana Experiences Significant Ecosystem Growth with Stripe and PayPal Integrations

John Hobbs by John Hobbs
July 20, 2024
in Currencies
Solana Experiences Significant Ecosystem Growth with Stripe and PayPal Integrations
Share on FacebookShare on Twitter

You might also like

SUI Price Hits All-Time High – But Valuation Remain Questioned

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

Solana is seeing substantial ecosystem growth driven by technical advancements and key partnerships, particularly with financial industry giants PayPal and Stripe, which have integrated Solana into their payment systems.

These integrations reflect increasing confidence in the Solana network from both institutional and retail sides. Retail investors flock to platforms like pump.fun, generating millions in fees over recent months.

Institutional Adoption and Ecosystem Growth

On July 18, the Solana Foundation highlighted a report by Messari analyst Peter Horton, which mentioned key partnerships and platforms driving Solana’s success. 

In Q2 2024, PayPal and Stripe integrated Solana into their platforms. PayPal expanded its PYUSD stablecoin to the Solana network, while Stripe supported Solana payments. Both companies aimed to leverage Solana’s scalability and low fees for more efficient platforms.

Some Solana-native platforms have also thrived. Memecoin launchpad pump.fun, known for facilitating celebrity memecoin launches, have collected $48 million in total fees during the quarter.

Impact on Raydium and Total Value Locked (TVL)

Raydium, Solana’s largest decentralised exchange (DEX), benefited significantly from pump.fun’s success. The platform’s average daily volume surged by 77% quarter-over-quarter, reaching $867 million. This activity contributed to a 46% increase in Raydium’s Total Value Locked (TVL), bringing it to $991 million.

Source: Messari

Despite Raydium’s growth, Solana’s overall TVL in USD fell by 9% quarter-over-quarter to $4.5 billion in Q2 2024, placing it fourth among blockchain networks. This decline was primarily due to token price depreciation rather than a reduction in capital outflow. Conversely, TVL denominated in SOL, Solana’s native token, grew by 26% QoQ.

Tags: Solana News
John Hobbs

John Hobbs

John Hobbs serves as the co-Leader of the Coin Culture tokens and data team for Australia site, specialising in crypto derivatives, DeFi, market microstructure, and protocol analysis. John possesses a cryptocurrency portfolio including assets such as YFI, SHIB, DOGE, USDT, MATIC, MANA, GLMR, LINK and XMR. Additionally, he contributes over $5,000 to liquidity pools across various platforms including Compound, Curve, SushiSwap and PancakeSwap. John has a professional background in finance and data analysis, with over five years of experience as a crypto investor.

Recommended For You

SUI Price Hits All-Time High – But Valuation Remain Questioned

by John Hobbs
October 18, 2024
0
SUI Price Hits All-Time High – But Valuation Remain Questioned

SUI has recently closed the week at its all-time high (ATH) price of $2.30, outperforming top altcoins such as Polkadot (DOT) and ranking among the top 15 cryptocurrencies....

Read more

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

by John Hobbs
October 4, 2024
0
Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Swiss crypto bank Sygnum suggests that Solana could become a serious contender to Ethereum, particularly if financial institutions continue choosing it for real-world asset tokenization platforms and stablecoins. ...

Read more

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

by John Hobbs
September 9, 2024
0
Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

Ethereum is currently grappling with significant market and technical challenges, which have contributed to its valuation being 50% below its all-time high of over $4,800. Analysts attribute this...

Read more

PayPal’s Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

by John Hobbs
August 28, 2024
0
PayPal's Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

PayPal's stablecoin, PYUSD, recently reached $1 billion in market cap, as reported by CoinMarketCap.  Issued with Paxos, PYUSD saw its supply more than double since June, despite the...

Read more

Concerns Rise Over Tron’s USDD After $732M Bitcoin Withdrawal From Reserve

by John Hobbs
August 24, 2024
0
Concerns Rise Over Tron's USDD After $732M Bitcoin Withdrawal From Reserve

The crypto community has shown concerns about the Tron-based stablecoin USDD after the Tron DAO withdrew $732 million worth of Bitcoin from its reserves. People fear that this...

Read more
Next Post
Breaking News: Elon Musk to Allegedly Speak at Bitcoin Conference

Breaking News: Elon Musk to Allegedly Speak at Bitcoin Conference

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    184 shares
    Share 74 Tweet 46
  • Kucoin Review 2024: Features, Fees & More

    156 shares
    Share 62 Tweet 39
  • Coinbase vs Binance: A Side-By-Side Comparison 2023

    270 shares
    Share 108 Tweet 68
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2024

    672 shares
    Share 269 Tweet 168
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    429 shares
    Share 172 Tweet 107

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$105,807.00-1.44%
    BITCOIN
    24H : -1.44%
    Volume : $33,614,204,247.00
    Marketcap : $2,103,847,894,094.00
  • ethereumEthereum(ETH)$2,644.550.380%
    ETHEREUM
    24H : 0.380%
    Volume : $27,109,244,422.00
    Marketcap : $319,176,674,313.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $60,582,680,095.00
    Marketcap : $153,025,023,193.00
  • rippleXRP(XRP)$2.260.660%
    XRP
    24H : 0.660%
    Volume : $2,123,665,994.00
    Marketcap : $132,632,663,587.00
  • binancecoinBNB(BNB)$675.45-1.35%
    BNB
    24H : -1.35%
    Volume : $870,456,276.00
    Marketcap : $98,543,487,042.00
  • solanaSolana(SOL)$166.67-1.87%
    SOLANA
    24H : -1.87%
    Volume : $3,759,479,702.00
    Marketcap : $86,753,121,445.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $5,255,107,302.00
    Marketcap : $61,132,580,214.00
  • dogecoinDogecoin(DOGE)$0.216-0.90%
    DOGECOIN
    24H : -0.90%
    Volume : $1,224,733,517.00
    Marketcap : $32,314,606,312.00
  • cardanoCardano(ADA)$0.726-1.55%
    CARDANO
    24H : -1.55%
    Volume : $639,347,600.00
    Marketcap : $26,189,586,967.00
  • tronTRON(TRX)$0.2750.320%
    TRON
    24H : 0.320%
    Volume : $637,516,041.00
    Marketcap : $26,139,540,882.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.