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RenVM integrates Solana - "SOL Summer" incoming?!



RenVM announced the full integration of Solana. This means that native assets can now be transferred to the Solana blockchain using Ren. Including Bitcoin (BTC), Bitcoin Cash (BCH), Zcash (ZEC) and Dogecoin (DOGE).

RenVM thus forms a bridge between different blockchains and allows the assets in Solana's DeFi ecosystem to be made accessible. The Ren development team can deliver in just under five months. At the beginning of February it was announced that it would work on the integration and for this purpose become part of Alameda.

The DeFi ecosystem on Solana is therefore becoming more and more extensive and mature. At the same time, one of the great advantages of the Solana blockchain is no longer that interesting, at least for the time being. Because the transaction fees on Ethereum have fallen massively. There is currently no advantage in this regard to switching from Ethereum to Solana.

"SOL Summer" is postponed

It is often the case that the events that are most strongly anticipated do not happen in the end, or at least not turn out quite as spectacular. The “SOL Summer”, which is repeatedly invoked on social media, also seems to be a long time coming.

It didn't look so bad for Solana, because the SOL course was always able to convince with its performance, even when the rest of the market got into trouble. But currently, the situation looks different and Solana is based on Bitcoin when it comes to price development.

At around $ 35, the SOL price found steady support in June. At press time, the price is $ 35.83, which is again within that range. Should the course collapse here, there would be the latent danger that it will slide downwards like a landslide. In particular, the fact that only lower highs were formed after June 9 is not particularly optimistic.

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