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DigitalBits and Stably Announce New Partnership Live at Futurist Conference

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Stably Platform Will Enable Turn-key Development of Branded Stablecoins on the DigitalBits Blockchain

The XDB Foundation and Stably Corporation, a Seattle-based fintech firm hyper focused on stablecoin development, have announced a new partnership deal, which will add Stably to the DigitalBits ecosystem.  The announcement was made live during the Futurist Conference, Canada’s leading blockchain and emerging technologies event, held virtually. XDB Foundation’s Managing Director Michael Gord and Stably’s co-founder and CEO Kory Hoang were joined by DigitalBits founder Al Burgio during the “Branded Stablecoins: Enhancing the Relationship that Exists Between a Brand and Consumers” panel discussion, moderated by David Gokhstein, CEO of Gokhstein Media.  

In collaboration with their regulated partner Prime Trust, Stably is responsible for the creation of USDS, a prominent USD-pegged stablecoin.  Stably’s Stablecoin-as-a-Service brings a white label stablecoin solution to the DigitalBits blockchain, allowing brands and enterprises to quickly and easily launch secure, compliant stable assets on-chain with the foremost in blockchain technology.   

Stably also announced that it will add USDS to the DigitalBits network as the first stablecoin leveraging the Stably platform with the DigitalBits blockchain.  This DigitalBits-based USDS will allow users to transact with other DigitalBits-based branded currencies, including other fiat pegged branded currencies across the DigitalBits network.  USDS is currently based on the ERC-20 token standard for Ethereum and the BEP-2 standard for Binance Chain. 

“Together, Stably and the XDB Foundation are focused on driving development, use-cases, and ultimately widespread adoption for branded stablecoins,” said XDB Foundation’s Michael Gord.  “Stably’s mission is to bridge wealth from the real world to digital worlds, be it blockchains, virtual realities or video games. We look forward to tokenizing various asset classes including fiat currencies, commodities and even collectibles on the DigitalBits network to enable faster, cheaper and borderless transactions globally,” said Stably’s CEO Kory Hoang.

Stably predicts that in the future, most major brands will use their own form of branded stablecoin.  These unique assets afford companies numerous benefits, such as generating interest on reserve assets, significantly reduced transaction fees, as well as enhancing marketing and customer loyalty.

The Futurist Conference’s speaker list needs no introduction for the most part and includes blockchain pioneers, influencers, and celebrities. This year the conference was attended by Bitcoin.com founder Roger Ver, SingularityNET CEO Ben Goertzel, MakerDAO Co-founder Rune Christensen, CoinDesk’s Chairman Michael Casey, as well as actor James Pratt and Emmy-winning producer Cindy Cowan.      

 

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Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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