- Solana ($SOL) is gaining momentum, fueled by its Infinite Money Glitch (IMG) project, which uniquely rewards holders with SOL every five minutes.
- Its utility is expanding into payment platforms, driven by real-world applications for IMG, enhancing its relevance in the crypto ecosystem.
- Solana’s increasing mention alongside liquidity and market cap, plus KOL engagement, signals strong trading interest. It’s also live on OpenSea’s OS2 for select users.
The Solana blockchain and its native token, SOL, have picked up steam, aligning with the broader market resurgence. In particular, the blockchain’s Infinite Money Glitch (IMG) project is making waves due to its unique reward system, which distributes SOL to holders every five minutes.
With its innovative reward mechanism, IMG is tapping Solana’s Token2022 program to attract attention. The network is also increasingly gaining utility in payment platforms as the developers build more real-world applications for IMG, further bolstering its relevance in the crypto space. Solana has also been frequently mentioned in terms of liquidity measurements and market capitalizations, indicating active trading and investment interest, with multiple KOLs engaging with the platform.
Notably, SOL holders are rising across social media platforms, discussing new cryptocurrency projects. This metric is often highlighted to indicate the level of interest and investment in a project, suggesting its potential value and community engagement. The smart contract platform recently went live on OS2, a revamped platform of NFT marketplace OpenSea, for a select group of closed beta users.
As reported by TronWeekly, OS2 will initially onboard only SOL tokens for trading purposes and will extend support to Solana-based non-fungible tokens (NFTs) at a later stage.
Solana Gains Traction While Mantra Faces Collapse
Besides Solana, Mantra’s OM is in the limelight after its recent incident where the token fell over 90% in value. Despite denying dumping the token, on-chain data showed $227 million in $OM were swiftly moved to exchanges ahead of the collapse. This has led to concerns about market manipulation, centralized ownership, and investor trust, drawing parallels to past cryptocurrency collapses.
The situation has sparked debates within the crypto community about recovery plans and the role of exchanges in the decline.
In general, Solana is experiencing renewed interest due to its innovative IMG project and growing real-world utility, reflected in active trading discussions and its integration into OpenSea’s new platform. However, the contrasting case of Mantra’s OM token, marked by a severe price crash and manipulation concerns, highlights the volatile nature and risks within the cryptocurrency market.