By
Svetlana Soroka
May 5th, 2024
The acquisition of Solscan by Etherscan comes at a time when activities on the Solana ecosystem garnered interest from crypto traders due to the resurgence of meme tokens.
Etherscan, a renowned blockchain explorer focusing on the Ethereum ecosystem, has announced the acquisition of Solscan, another prominent crypto data provider for the Solana protocol.
In an official announcement on January 3, 2024, Etherscan said that this acquisition is a strategic move to enhance the accessibility of blockchain data across multiple networks.
Broadening Access to Blockchain Data
Launched in 2015 by a group of blockchain enthusiasts, Ethercan is known among crypto users as a reputable platform providing data, APIs, insights, and analysis for the Ethereum community. The company was founded by Matthew Tan, who also serves as its chief executive.
Having served the industry for over eight years, the blockchain explorer expanded its product offerings to integrate Solscan into its platform. However, specific financial details regarding the acquisition remain undisclosed.
The company’s CEO, Tan, said the purchase of Solscan aligns with Etherscan’s mission to provide credible services to users. He also praised Solscan’s expertise in offering detailed insights and analytics to its users.
“The Solscan team has proven their expertise over the years by offering detailed insights and analytics. Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan,” said Matthew Tan.
Commitment to Mainstream Adoption
Described as a “collaborative merging”, the integration aims to benefit both Ethereum (ETH) and Solana (SOL) users. Through this acquisition, Etherscan intends to continue providing neutral and equitable access to blockchain data.
The company also plans to introduce enhanced features to improve the user experience across both platforms.
Furthermore, the blockchain explorer said it is committed to helping the crypto ecosystem gain mainstream adoption and will continue to contribute to the industry’s growth with the acquisition of Solscan.
“We are deeply committed to helping the blockchain community fulfill its promise and gain mainstream adoption. With this new addition to the team, we hope to contribute further to the ecosystem. Stay tuned for more updates!”
Like Etherscan, Solscan has also gained users’ trust, providing clear and unfiltered cryptocurrency analytics for the Solana community. The blockchain explorer was established in 2021 and has provided services to more than three million users every month.
Both platforms also share features familiar to users of Etherscan, including detailed address, token, and transaction information. Solscan also offers API services to users, and its dashboards and non-fungible token (NFT) metadata are familiar with that of Etherscan.
Solana (SOL) Now the Fourth-largest Crypto
Meanwhile, the acquisition of Solscan by Etherscan comes at a time when activities on the Solana ecosystem garnered interest from crypto traders due to the resurgence of meme tokens.
SOL, the native crypto of the Solana protocol, is currently trading above $100 after falling below $30 last year due to the collapse of FTX.
The surge in price has propelled the token to become the fifth-largest digital asset by market capitalization after flipping XRP. It also briefly overtook BNB before retracing back to its current position on the list of top 10 cryptocurrencies in the world by market capitalization.