Solana Goes Mainstream with TipLink Wallet Innovation

• The TipLink team raised $6 million earlier last year, led by Sequoia and Multicoin, to unlock widespread adoption of Solana Dapps.
• The Solana network has developed the infrastructure necessary to improve scalability amid increased competition in layer-one blockchains.

The Solana Network (SOL), a fast-growing layer one (L1) blockchain with a total value locked (TVL) exceeding $4.4 billion, has been preparing to go mainstream in the recent past thanks to strategic developments . Having signed up a plethora of retail crypto investors through its dozens of coins, currently valued at around $8.5 billion, Solana’s core development team has been working on scalable products.

Solana Network and TipLink Wallet

The Solana network is now ready for mass adoption through the use of the TipLink Wallet Adapter, a product that allows users to log in with just a Google account and immediately start signing transactions. Essentially, the TipLink product allows users to send cryptographic or non-fungible tokens (NFTs) through the use of a link.

Earlier last year, the TipLink wallet received $6 million in seed funding from Sequoia Capital, Multicoin Capital and other investors to build the infrastructure necessary for seamless adoption of digital assets. Upon launch, the TipLink Wallet Adapter was integrated with dozens of Solana-based Web3 protocols, such as Drip and Jupiter, among others.

Meanwhile, Web3 developers on the Solana network have been invited to integrate with the TipLink wallet adapter, as it takes less than 20 minutes and is valuable to the crypto industry.

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Why integration now?

The Solana network has attracted the attention of web3 investors due to its strong potential for direct competition with the Ethereum (ETH) ecosystem. As Previously mentioned Crypto News FlashThe Solana network has recorded notable cash inflows in the recent past, notably through the creation of tokens.

The recent approval of Ethereum spot exchange-traded funds (ETFs) in the United States has increased the chances of other altcoins following the same path. Additionally, the crypto regulatory landscape in different global jurisdictions has improved significantly over the past year.

With the current crypto bull market, the Solana team has continued to work on improving liquidity and increasing its overall throughput using network upgrades.

Impact on SOL Price Action

Solana price has been one of the best performing altcoins of the last year despite pullbacks triggered by the FTX boom. The large-cap altcoin, with a fully diluted valuation (FDV) of around $92 billion and an average daily trading volume of around $2.1 billion, is gearing up for a rally to its all-time high .

After an impressive rally late last year and early this year, SOL price against the US dollar has consolidated in a triangle pattern between $123 and $212. The ultimate bullish trigger for the altcoin is expected to be the listing of spot Ether ETFs in the United States and a Bitcoin rally towards $80,000.

Meanwhile, SOL price fell 8% over the past week to trade at around $158 on Wednesday, June 12, 2024.

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