Etherscan announces acquisition of block explorer Solscan

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On Wednesday, Etherscan announced its acquisition of Solscan, a top Solana block explorer, to expand its blockchain data services across diverse networks.

“We are excited to announce that Solscan.io, a prominent block explorer for the Solana ecosystem has joined Etherscan. This collaborative merging continues our ongoing efforts to improve the accessibility of blockchain data across multiple networks,” Etherscan said in a blog post.

Solscan, established in 2021, has served over three million monthly users and gathered more than 23,000 subscribers on X. Its block explorer shares numerous features similar to Etherscan, such as comprehensive address, token, transaction data, APIs, dashboards and metadata for nonfungible tokens (NFTs).

After the acquisition, Etherscan plans to integrate more features into various explorers and improve its support services.

“With the addition of @solscanofficial to the team, we hope to continue executing on our vision of providing credibly neutral and equitable access to blockchain data,” said Etherscan in a social media post.

Regarding this acquisition, Etherscan CEO and founder, Matthew Tan, highlights the Solscan team’s expertise gained over years in delivering detailed insights and analytics.

“Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan,” said Tan.

As Solscan joins Etherscan, users can anticipate continued excellence in the Solana ecosystem, along with new features for better exploration and analysis. This collaboration aims to provide an improved user experience, focusing on enhanced interfaces, navigation and overall accessibility.

“So, what’s next? We promise continued excellence on Solana, integration of additional features, and an enhanced user experience!” Solscan said.

In another announcement, Solscan unveils a significant upgrade featuring the enhanced Solscan Program Display function. This upgrade aims to make the program’s data more user-friendly and to enhance the overall user experience.

Solana co-founder Anatoly Yakovenko, expressing support on social media, highlights the positive community momentum and excitement for these advancements. The optimized display aligns with Solscan’s dedication to innovation and user-centric solutions in the dynamic blockchain ecosystem.

Etherscan’s acquisition coincides with SOL’s surge

Etherscan’s recent acquisition aligns with a significant rise in Solana’s token, SOL.

On December 22, Solana’s market value briefly exceeded that of Binance Chain’s BNB, which was at $319. This happened shortly after surpassing XRP’s market value, which was at $0.58. Over the last 30 days, Solana’s token has surged by 60 percent, reaching over $100 in late 2023 for the first time since 2022.

Last year saw an incredible surge for SOL, showing a 1,033 percent increase in value. Crypto enthusiasts expect even more growth this year, with optimistic predictions hinting at the possibility of SOL surpassing the $200 price mark.

Solana’s network surpassed Ethereum in weekly stablecoin trading volume, with Solana reaching $103 billion while Ethereum hovered around $90 billion. This accomplishment highlights Solana’s rising prominence and competitiveness in the cryptocurrency market.

Solana’s strength lies in its decentralized finance (DeFi) sector, drawing attention and backing for the coin.

The introduction of BONK, Solana’s meme coin, has contributed to its strong growth, complementing its dynamic ecosystem. Moreover, the recent launch of the Saga phone further strengthens Solana’s expansion efforts. The impact of these developments on the coin’s trajectory is anticipated, creating excitement for future events within the Solana ecosystem.

Some industry observers wonder if the SOL cryptocurrency might surpass Ether (ETH) in the future. In late December, Solana had a higher global search score on Google, scoring 56 compared to Ethereum’s 50, as reported by Cointelegraph.