According to Etherscan, the acquisition of Solscan was a “collaborative merging” that would enable the company to provide blockchain data services across more networks.
Etherscan, a company that runs an Ethereum blockchain explorer, is kicking off the new year with new acquisitions pertaining to the Solana blockchain.
The purchase of Solscan, a top block explorer for the Solana ecosystem, was formally announced by Etherscan on January 3. The acquisition, according to the statement, is a “collaborative merging” that carries on Etherscan’s mission to broaden blockchain data offerings over several networks.
Since its founding in 2021, Solscan is said to have served over three million monthly users, and as of this writing, its community on X (previously Twitter) has more than 23,000 subscribers. Users of Etherscan will recognise a number of features in the Solscan block explorer, such as the ability to view detailed addresses, tokens, transaction data, APIs, dashboards, and the metadata of nonfungible tokens (NFTs).
According to the release, Etherscan will keep offering “credibly neutral and equitable access to blockchain data” after the acquisition. The company also intends to provide better assistance and incorporate new features across several explorers.
“Over the years, the Solscan team has demonstrated their expertise by providing in-depth insights and data.
Etherscan CEO and co-founder Matthew Tan remarked, “Their proficiency in facilitating easy access to and use of blockchain data also perfectly aligns with our mission.”
The price of Solana, the native cryptocurrency of the Solana blockchain, has significantly increased in conjunction with Etherscan’s most recent acquisition. Just one day after XRP’s market value was reversed, on December 22, Solana’s market capitalization momentarily eclipsed Binance Chain’s BNB.
For the first time since 2022, the token has increased in value by 60% in the last 30 days, breaking $100 in late 2023. As of this writing, CoinGecko statistics shows that the value of the Solana coin is $110, a 3.5% decrease over the previous day. Valued at about $47 billion, SOL is currently the fifth-biggest cryptocurrency by market capitalization. Industry watchers have been wondering if the cryptocurrency SOL will eventually surpass Ether. It has been claimed that in late December, Solana temporarily reversed Ethereum’s daily DEX trading volumes.
In terms of worldwide Google searches, Solana surpassed Ethereum around the end of December, outperforming Ethereum with a score of 56 against 50.