Etherscan acquires Solana block explorer Solscan amid SOL rally

Etherscan described its acquisition of Solscan as a “collaborative merging” to enable the company grow its blockchain data services across many networks. Etherscan, which runs an Ethereum blockchain explorer, is starting the year with fresh acquisitions tied to the Solana blockchain.

Etherscan formally announced the acquisition of Solscan, a major block explorer for the Solana ecosystem, on January 3. According to the company, the acquisition is a “collaborative merging” that continues Etherscan’s attempts to develop blockchain data offerings across numerous networks.

Solscan, which was founded in 2021, has purportedly served over three million monthly users, and its community on X (previously Twitter) had more than 23,000 subscribers at the time of writing. Many elements of the Solscan block explorer are familiar to Etherscan users, such as detailed address, token, and transaction data, as well as APIs, dashboards, and nonfungible tokens (NFT) metadata.Following the acquisition, Etherscan will enable “credibly neutral and equitable access to blockchain data,” according to the release. The company also intends to integrate new features across different explorers and to provide better assistance. “Over the years, the Solscan team has demonstrated their expertise by providing detailed insights and analytics.” “Their expertise in making blockchain data accessible and user-friendly aligns perfectly with our mission at Etherscan,” stated Matthew Tan, CEO and co-founder of Etherscan.

The acquisition of Etherscan comes amid a considerable increase in the price of Solana SOL $108, the native cryptocurrency of the Solana blockchain. Solana’s market capitalization momentarily surpassed Binance Chain’s BNB $317 on December 22, barely a day after flipping the market value of XRP $0.63. The token has increased by 60% in the last 30 days, reaching $100 in late 2023 for the first time since 2022. 

With a market valuation of approximately $47 billion, SOL is now the sixth largest cryptocurrency by market cap. Some industry watchers have speculated that the SOL cryptocurrency could one day rival Ether ETH. In late December, Solana apparently briefly flipped Ethereum in terms of daily decentralised exchange (DEX) trade volumes. In late December, Solana surpassed Ethereum in terms of global Google searches, with a score of 56 versus 50.

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