Solana has been innovating a lot in its crypto space lately by adding valuable features, such as Photon and Blinks, that greatly improve the user experience.
Photon and Blinks are the latest successful blockchain integrations, which are helping to attract capital and retail interest.
The price of SOL, also thanks to a new wave of optimism thanks to the news on ETFs, could be positively affected by all this: the target price is currently 180 dollars.
Let’s see all the details below.
Solana and the integration of the memecoin exchange Photon
Photon is a decentralized exchange for memecoins operating on the Solana blockchain which optimally simplifies the approach to trading.
Thanks to its high speed and low latency in order processing, this platform allows you to go on the hunt for newly launched coins.
In particular the section “new pairs” allows you to view new low-cap memecoins that are added to pump.fun in real time.
Furthermore Users can take advantage of the “quick buy” to buy a coin immediately after its listingarriving before the masses.
This offers a significant competitive advantage, especially because it minimizes the waiting time between sniping a new token on Solana and actual trading.
To access the platform, simply go to the official website and connect the phantom wallet, deposit funds into the new Photon SOL wallet and save the private keys.
Once this is done, you can start to fine-tune Photon’s settings to be ready, adjusting trade amounts, slippage and priority fees.
Dozens of new memecoins are added every minute”amateur”, with small capitalization and poor initial liquidity. Usually the coins that attract the most attention are those that are launched with more liquidity than the others.
Photon guides us in choosing the best pairs by reporting in the section “audit results” when the token developer can engage in incorrect behavior.
The platform has also launched a points-based incentive campaign to drive adoption on Solana and attract as many users as possible.
By operating on Photon you can therefore accumulate points which will be converted into the next governance token of the protocol via airdrop.
New Blinks Simplify User Experience on Solana: Beware of Risks, Too
After Photon improving access to memecoin trading, here is another great innovation launched on the Solana blockchain.
Let’s talk about the so-called “Blinks”a new product offering that allows you to speed up SOL payments via shareable links.
Thanks to these users of the Solana network can incorporate on-chain action requests such as “swap” o “send” within a simple link.
The operation is successful without the user having to leave the website where he interacted with the blink in question.
The invention, similar to Photon, significantly speeds up the cryptographic interaction process while simplifying the user experience.
The Solana Blinks could attract a broad range of retail users at the Solana chain, thanks to a completely new UX model compared to the classic web3 logic.
Crypto analyst Marty Party agrees that they could represent a revolutionary transactional concept.
“With Blinks, you no longer need marketplaces or other websites. Simply post the product or offer and the user interacts and transacts with the post. They never leave your history. This makes OnlyFans, eBay, Facebook Marketplace and everything else redundant. Only on Solana”.
However, let us remember that Blinks allow at the same time to hacker and scammers to better manage scam transactions.
Any Blinks, needing the “blind signing” on the wallet, does not in fact show the type of on-chain action that is going to be conducted on the Solana network.
In this way, less honest individuals can easily share links that lead to the draining of funds into other users’ wallets.
Furthermore, Hayden Adams, founder of Uniswap, recalled a few days ago that this type of model is not actually that new.
5 years ago Uniswap adopted a similar interaction technology, but this never caught on in the crypto space.
SOL Price Analysis: Coin Reacts to ETF News
As mentioned, the latest Photon and Blinks innovations support the on-chain activity of the Solana network bringing many transactions and new active users.
By simplifying the use of blockchain and bringing the crypto finance experience to a more basic level, we are aiming for mass adoption.
The SOL coin is thankful for new features, and remains at a relatively high pricefrom which a new upward leg up could start.
Thanks also to yesterday’s news, with Vaneck presenting the first request for a spo ETF on SOLthe cryptocurrency has returned above $145.
The approval of new publicly traded funds to invest in Solana’s future could be the determining factor in its success in the coming months.
New ETFs on Solana could in fact attract a very high amount of institutional capital, supporting the price of the crypto.
According to CoinCodex forecasts, In the short term, Solana’s token could easily surpass the $158 threshold.
Especially if enthusiasm for Photon and Blinks products expands, we could see the bulls take control of the situation on SOL.
It is clear that everything also depends on the price action of Bitcoin, but indicatively the market timing seems to be on the side of an increase.
After the last 3 months of retracements, perhaps the time has come to resume the bull market.
Here is what CoinCodex wrote in its predictions:
“According to our current Solana price forecast, Solana price is forecasted to increase by 16.15% and reach $158.41 by July 27, 2024. According to our technical indicators, the current sentiment is neutral, while the Fear & Greed index is showing 40 (fear). Solana has recorded 12/30 (40%) green days with a price volatility of 9.41% in the last 30 days.”
