Solend is a leading Crypto DeFi platform on the Solana blockchain. This platform allows users to lend and borrow cryptocurrencies seamlessly.
Solend, a leading cryptocurrency lending and borrowing platform on the Solana blockchain, has announced a rebranding of its sUSD stablecoin to SaveSol. This move is part of a larger strategy to increase Solend's market presence and attract new users.
The rebranding, which also includes a fresh logo and marketing campaign, is designed to make the token more user-friendly and appealing. According to the Solend team, the new name better reflects the token's purpose and aims to encourage more people to use SaveSol.
This change is intended to enhance the overall user experience while maintaining the token's functionality as before. The rebranding is accompanied by three new products: SUSD, saveSOL, and @dumpydotfun.
Solend is a non-custodial liquidity protocol on Solana that allows users to lend and borrow cryptocurrencies quickly and easily. Known for its speed and low transaction costs, Solend aims to make decentralized finance more accessible and efficient.
Following this news, the trade price of Solend (SLND) surged nearly 135% in the last 7 days. The current trade price is $0.85, which is 15% higher over the last 24 hours.
Solana price action
The current trade price of Solana's native coin Sol is $172 and this price level is 7.7% high over the last 7 days period.
Amid the current bull phase of this innovative space, only particular numbers of crypto assets are pumping which includes Sol coin & multiple meme tokens.
In the present time, the majority of the crypto analysts are predicting continued growth due to Solana's high transaction throughput, low fees, and potential approval for a Solana ETF. If approved, the ETF could attract institutional investors, potentially driving the price higher. In the next week, Solana might reach $190, with a possible climb to $200 if positive market sentiment continues.
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