Solend is a leading Crypto DeFi platform on the Solana blockchain. This platform allows users to lend and borrow cryptocurrencies seamlessly. Known for its speed and low transaction costs, Solend aims to make decentralised finance more accessible and efficient to crypto people.
Solend has rebranded its sUSD stablecoin to SaveSol. This move aims to make the token more user-friendly and appealing. The Solend team believes the new name, SaveSol, better reflects the token’s purpose and encourages more people to use it.
We’re excited to unveil the rebranding of Solend to Save, Solana’s permissionless savings account.
Along with this rebrand, we’re announcing three groundbreaking new products: SUSD, saveSOL, and @dumpydotfun.
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— Save (formerly Solend) (@solendprotocol) July 24, 2024
This change is part of Solend’s strategy to increase its market presence and attract new users. The rebranding includes a fresh logo and marketing campaign to spread the word. Users can still use the token as they did before, with the added benefit of a more engaging and memorable name.
The Crypto community has responded positively, with many expressing excitement about the new direction. Solend hopes this rebranding will lead to greater adoption and success in the DeFi space.
Solend price action
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 & 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 predict 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
Read also: Senator Cynthia Lummis to Propose Bitcoin as US Reserve Asset
Solend Rebrands sUSD to SaveSol to Boost User Engagement with new stablecoin launch
https://bitcoinik.com/solend-rebrands-susd-to-savesol-to-boost-user-engagement-with-new-stablecoin-launch/feed/
https://bitcoinik.com/solend-rebrands-susd-to-savesol-to-boost-user-engagement-with-new-stablecoin-launch/feed/
