Solana is now added to the growing list of supported blockchains in Pulsar Finance, a popular portfolio tracker for multiple chains. This addition makes Pulsar Finance reach a total of 100 blockchains hence making asset management easier for its users.
It is an exceptionally fast and relatively cheap blockchain for executing transactions. It has recently become very popular, especially due to the memecoins originating from Solana. Pulsar Finance is a portfolio tracker based on multiple blockchains that was established in 2021 and was acquired by Terraform Labs recently. According to the plan, the platform should be an all-in-one solution for the users to organize their digital resources.
By incorporating Solana into Pulsar Finance, the company responds to the emerging demand for a more unified asset management platform in the rapidly evolving Web3 landscape. Eduardo Alves, Founder of Pulsar Finance, described the existing issues that the users of portfolio trackers are experiencing at the moment. He pointed out that most of the solutions either integrate only with Solana or do not integrate with it at all, which makes it challenging to manage assets if a user has assets on different blockchains.
Alves continued his statement by noting that although specific companies like Step Finance operate exclusively on Solana, other portfolio trackers like DeBank and Zerion are dedicated solely to EVM-compatible chains. Thus, while offering support to Solana, Pulsar Finance is more integrated with ecosystems such as EVMs, Cosmos, SUI, or Near. This means that users are not compelled to use several applications to carry out their operations on assets.
The addition of Solana to Pulsar Finance is well-timed because of the latest improvements in the Solana tokens market. As of 2023, Solana has risen to $1500% from its initial market value. On May 20 the token saw a trading volume increase by 80%, reaching $5.5 billion. This surge increased Solana’s market cap to $80.5 billion, thereby ranking it as the world’s fifth-largest cryptocurrency.
Increased adoption of memecoins on the Solana network has also increased the need for more seamless portfolio management tools. For example, Dogwifhat increased its price by 400% in March, while Lucky Boo presale round one was sold out in mere hours. As more memecoins are created and projects move to the Solana blockchain, effective portfolio management is increasingly important.
As per CoinGabbar, this integration of Solana into Pulsar Finance has made one of the most significant developments in the crypto asset management industry. Thus, Pulsar Finance helps users save their time and efforts by supporting a vast array of blockchains. As Solana keeps on growing in adoption and the value of tokens, there will be the need for efficient portfolio trackers such as Pulsar Finance. Thus, this integration not only promotes the Solana ecosystem but also improves the performance and popularity of Pulsar Finance as the leading multichain portfolio tracker.
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