Solana recently announced the release of Solana Actions and blockchain links (blinks), enabling seamless on-chain transactions across various platforms. Solana is expected to see a significant price increase after VanEck applied to offer a Solana ETF.
Solana recently announced the release of Solana Actions and blockchain links (blinks). Acting as a bridge between Web 2 and Web 3, this advanced tool is set to reshape the way blockchain transactions are integrated into various platforms.
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Solana blinks 🤝 Identity
Today we are releasing .blink, which Solana
Get yours with Solana action and blink. @Speak dialect
More details here 🧵 pic.twitter.com/UTHvX8QXt9
— Dot Blink (@mintdotblink) July 26, 2024
Essentially, Solana Actions allow users to execute on-chain transactions from any platform, including websites, social media, and even physical QR codes. Developers can easily integrate these Actions into their applications, allowing users to seamlessly interact with the Solana ecosystem.
Best of all, Blinks introduces something even more exciting: Blinks transforms any action into a shareable link, allowing any website that can display a URL to initiate a Solana transaction. Frankly, any website or social media can act as an instant connection for on-chain transactions without having to redirect users to other applications.
According to Jon Wong, head of ecosystem engineering at the Solana Foundation, Blink is part of a broader strategy to achieve widespread adoption.
Access to blockchain protocols has long been limited to dApps and other wallet-enabled tools. Now, Solana’s Actions and Blink enable any website or application on the internet to become a distribution point for on-chain interaction, furthering the goal of mainstream adoption.
Expressing his enthusiasm for Blink, John Won added:
These simple yet powerful tools lower the barrier to entry and pave the way for broader adoption of blockchain-based transactions, making blockchain available to everyone, everywhere.
Additionally, Dialect founder Chris Osborn highlighted the importance of this new tool by giving the example of how users can buy NFTs, tip creators, receive money, vote, stake and exchange directly from their social media feeds without ever leaving the platform.
The impact of Blinks is significant: its accessibility will only increase adoption of Solana, and this marks a pivotal moment in blockchain’s broader journey towards a more interconnected and decentralized digital world.
Solana (SOL) Price Analysis
With this new development in mind, SOL is trading at $191.52 at the time of writing, having surged 4.15% and 7.27% in the past 24 hours and the past week, respectively.
As previously reported, a prominent crypto analyst shared a bullish prediction for Solana. Ali Martinez predicted that Solana could experience a 900% surge by early 2025, with the price reaching a staggering $1,600. This bullish prediction comes after Solana recently broke out of a bullish pennant formation. The aforementioned technical pattern is often associated with significant price surges.
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#Solana $sol We have officially exited this bull market, signaling a 900% rally ahead. pic.twitter.com/CWQdWGny0X
— Ali (@ali_charts) July 24, 2024
Additionally, cryptocurrency market maker GSR Markets has Solana at 8.9x. This bullish forecast is based on VanECK’s recent filing to issue a spot Solana ETF. This forecast implies that a potential Solana ETF would account for 14% of Bitcoin ETF shares.
According to GSR’s best-case scenario, SOL would surge from its current price of $191.25 to $1,702.125, increasing Solana’s market cap to $614 billion.
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