A new peer-to-peer payments protocol has been launched on Solana with support from Circle, FTX, and Phantom that will allow customers and merchants to use digital assets like Circle’s USDC stablecoin for various transactions. Launched by Solana Labs, Solana Pay, a decentralized payments protocol built on the Solana blockchain, lets merchants and e-commerce platforms accept payments using crypto wallets, giving merchants and customers expanded financial freedoms while allowing new kinds of interactions and purchasing power.
Cardano (ADA) has strung together several days of gains while the overall market has struggled with sluggish performances over the previous week. After it’s strong performance, rising from $1.15 on January 11 to $1.49 at the time of publication, Cardano now ranks as the fifth-largest cryptocurrency carrying a market capitalization of around $50 billion and at the same time outpacing Solana which sits at a market cap of around $43 billion.
Solana (SOL) has experienced a dramatic reduction in valuation over the past month. After reaching a high of $243.56, SOL is now struggling to stay above the major support level of $170 and the bears are currently in firm control yet again after a false breakout.
Like any new frontier, the pioneers of decentralized finance have blazed a new trail through the world of traditional finance, sometimes leaving bodies in their wake. There have been some enormously successful endeavors, others that never even left the ground, and others yet that have fallen somewhere in-between. Re-writing what has long been viewed as the norm is difficult and challenging work. Luckily, there are companies like Apricot Finance leading the way in this new generation of accessible and much needed financial services.