Your Composable Identity on the Blockchain

Solana recently announced the launch of Solana Actions and blockchain links (blinks), enabling seamless on-chain transactions across various platforms.
Solana is poised for a major price surge following VanEck’s filing to offer a Solana ETF.

Solana recently announced the launch of Solana Actions and blockchain links (blinks). Serving as a bridge between Web 2 and Web 3, this advanced tool is set to remodel how blockchain transactions are integrated into various platforms.

Solana Blinks 🤝 Identity
Today, we’re launching .blink – your composable identity on @solana
Claim yours via Solana actions and blinks, powered by @saydialect
More details🧵 pic.twitter.com/UTHvX8QXt9
— dotblink (@mintdotblink) July 26, 2024

In essence, Solana Action enables users to transact on-chain transactions from any platform. This includes websites, social media, and even physical QR codes. Developers can effortlessly integrate these actions into their applications, offering users a seamless way to interact with the Solana ecosystem.

Best of all, Blinks introduces an even more exciting element. Blinks transforms any Action into a shareable link, allowing any website capable of displaying a URL to initiate a Solana transaction. Candidly, websites and social media can act as an immediate connection for on-chain transactions, without redirecting users to other applications.

According to Jon Wong, Head of Ecosystem Engineering at the Solana Foundation, Blink is part of the broader strategy to attain widespread adoption.

Access to blockchain protocols has long been isolated to dApps and other wallet-aware tools. Now, Actions and blinks on Solana allow any website and application on the internet to be a distribution point for on-chain interactions – furthering the goal of mainstream adoption,

Expressing enthusiasm for Blink, Jon Wong added that:

These simple yet powerful tools bring blockchain to everyone, everywhere by lowering the barriers to entry and paving the way for broader adoption of blockchain-based transactions.

Additionally, Chris Osborn, Founder of Dialect highlighted the importance of this new tool citing an instance where users can buy an NFT, tip a creator, receive money, vote, stake, and swap directly from their social media feed without leaving the platform.

Blinks’ implications are momentous. Easing accessibility only fuels Solana’s rate of adoption. It’s also a pivotal moment in the broader blockchain landscape as it drives toward a more interconnected and decentralized digital world.

Solana (SOL) Price Analysis

Bearing in mind this new development, SOL is at the time of writing, swapping hands at $191.52 marking a 4.15% and 7.27% surge in the last 24 hours and past week respectively.

As earlier reported, a prominent crypto analyst shared a bullish prediction for Solana. Ali Martinez predicted that Solana could witness a potential 900% surge propelling its price to a staggering $1,600 by early 2025. This bullish prediction comes after Solana’s recent break out of a bullish pennant formation. The aforementioned technical pattern is often associated with significant price surges.

#Solana $SOL has officially broken out from this bull pennant, suggesting a potential 900% rally ahead. pic.twitter.com/CWQdWGny0X
— Ali (@ali_charts) July 24, 2024

Additionally, crypto market maker, GSR markets have come about an 8.9x prediction for Solana. This bullish prediction is rooted in the recent VanECK filing to issue a Spot Solana ETF. This prediction means that the potential Solana ETF will take in 14% of the Bitcoin ETF share.

According to GSR’s best-case scenario, SOL would move from its current price value of $191.25 soaring to 1702.125 while Solana’s market cap would increase to $614 billion.