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Crypto Custody Firm Fireblocks Brings Support for Solana Blockchain’s DeFi, NFT, Gaming Apps

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There are all kinds of moves in the crypto space that support the mass adoption of digital assets. Check out the latest reports about the issue below.

Fireblocks makes exciting crypto moves

CoinDesk just noted that the cryptocurrency custody firm Fireblocks has begun providing support for the Solana blockchain’s ecosystem of decentralized finance (DeFi) developers, non-fungible token (NFT) applications, and other Web3 activities. This is what the companies said on Tuesday.

The same online publication mentioned above notes that despite a bearish climate in crypto markets, Solana has grown at a rapid clip.

This has been happening particularly when it comes to things like NFTs, where it’s outpaced Ethereum of late, according to analysts at JP Morgan.

While Solana places easily within the top 10 blockchains by usage and market capitalization, it’s really the second-largest ecosystem if we consider all the Ethereum Virtual Machine (EVM)-compatible blockchains together, Fireblocks CEO Michael Shaulov said.

“Fireblocks previously provided support for Solana’s native token (SOL) as well as stablecoins such as USDC on the network.”

Now, the company’s “Web3 Engine,” is providing an on-steroids version of the platform’s key-sharding wallet technology to Solana users, according to the same online publication mentioned above.

Solana in the news

A couple of weeks ago, we revealed that a popular analyst who is known for his deep-dive research is laying out what might be on the horizon for a top Ethereum (ETH) competitor.

In a new strategy session, the pseudonymous host of Coin Bureau known as Guy said:

“SOL’s price action is also looking interesting from several angles. In terms of raw price action, SOL could potentially pull a 2x if the current recovery rally continues. This doesn’t sound like much, but if the rally does continue, it would be a larger percentage gain than other large cap altcoins.”

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