Coinbase
How to Buy Solana
Good news! You can buy Solana on Coinbase's centralized exchange. We've included detailed instructions to make it easier for you to buy Solana.
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Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization.
Launched in March 2020 by the Solana Foundation, based in Geneva, Switzerland, Solana is a crypto-computing platform that aims to achieve high transaction speeds without sacrificing decentralization. It seeks to improve scalability through a different approach in the blockchain industry, combining a proof-of-history (PoH) consensus with the blockchain's underlying proof-of-stake (PoS) consensus. This approach has attracted interest from a diverse range of traders, from small-scale individuals to institutional entities. Solana claims it can process around 50,000 transactions per second. Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running decentralized apps (dapps) or minting NFTs, with its cryptocurrency (SOL) available to buy and sell via exchanges like Coinbase.
Solana operates using a combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. The proof-of-history component is the main element of the Solana protocol, responsible for the majority of transaction processing. PoH records successful operations and the time elapsed between them, ensuring the trustless nature of the blockchain. The proof-of-stake consensus acts as a monitoring tool for the PoH processes, validating each sequence of blocks it produces. This combination of two consensus mechanisms makes Solana a different approach in the blockchain industry. Solana's protocol is designed to serve both small-time users and enterprise customers alike, with a commitment to low transaction costs while still ensuring scalability and fast processing.
Solana's primary use case is to facilitate the creation of decentralized applications (DApps), with a particular focus on decentralized finance (DeFi) solutions. Its different approach in the blockchain industry allows for significantly decreased validation times for both transaction and smart contract execution. This has attracted a lot of interest, particularly from institutional entities. Solana's protocol is designed to serve both small-time users and enterprise customers alike, aiming to make decentralized finance accessible on a larger scale.
The idea and initial work on Solana began in 2017, but it was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. The most important person behind Solana is Anatoly Yakovenko, whose professional career started at Qualcomm, and who teamed up with his Qualcomm colleague Greg Fitzgerald to found a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020.
When Bitcoin was invented more than a decade ago, it solved a tricky problem: how to make it possible for strangers anywhere in the world to make financial transactions over the internet without financial intermediaries and payment processors like Visa or Mastercard assisting the transaction. The technology that makes decentralized transactions possible — and which created the universe of cryptocurrencies we now know — is called a blockchain. But blockchains previously had one major downside compared to centralized networks like credit-card companies: they're slower. Bitcoin typically processes around than 7 transactions per second in 2023, compared to tens of thousands for Visa's network. Solana is one of many new crypto solutions aiming to make crypto networks faster and more scalable. It uses a suite of clever technologies, including a novel mechanism called "proof of history."
The computers that secure the network are called validators. Participants stake their own SOL to become a validator in exchange for a chance at earning SOL and a cut of fees. (Becoming a validator also requires a fairly high level of technical know-how.) SOL also serves as a "governance token," meaning that holders are also able to vote on future upgrades and governance proposals submitted by the Solana community.
Like Ethereum, Solana is a computing platform that can interact with smart contracts. Smart contracts power a wide range of applications, from Non-Fungible Tokens (NFT) marketplaces and Decentralized Finance (DeFi), to games. The crypto app ecosystem on Solana supports billions of dollars worth of assets as of 2023. One reason a user might choose an app that runs on Solana is that speeds are high and congestion is low — usually resulting in lower fees than on other blockchains. There are, of course, risks associated with emerging crypto applications and technologies, from extreme volatility to the potential for undiscovered smart contract bugs to be exploited. Especially as a beginner, do your research and don't risk money you can't afford to lose.
You can buy, send, and receive Solana using various crypto exchanges and wallets, including Coinbase and Coinbase Wallet.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
€69.7B
€4.8B
449.3M SOL
145 days
#5
€239.62
+1.74%
-2.08%
-1.47%
+8.66%
+9.32%
+816.55%
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252,436 unique individuals are talking about Solana and it is ranked #4 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Solana has an average sentiment score of 3.1 out of 5. Finally, Solana is becoming less newsworthy, with 24 news articles published about Solana. This is a 17.39% decrease in news volume compared to yesterday.
On Twitter, people are mostly neutral about Solana. There were 12.51% of tweets with bullish sentiment compared to 4.61% of tweets with a bearish sentiment about Solana. 82.89% of tweets were neutral about Solana. These sentiments are based on 189503 tweets.
On Reddit, Solana was mentioned in 1711 Reddit posts and there were 3072 comments about Solana. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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252,436 people
145,007 posts
0.95%
#4
3.1 out of 5
24
189,503 people
12.51%
Bullish
82.89%
Neutral
4.61%
Bearish
1,711
3,072
16,538
17,681
SOL/CAD (Canadian Dollar)
CA$229.93
SOL/GBP (British Pound)
£132.12
SOL/JPY (Japanese Yen)
¥26,411.13
SOL/INR (Indian Rupee)
₹13,975.74
SOL/BRL (Real)
R$866.67
SOL/EUR (Euro)
€155.21
SOL/NGN (Nigerian Naira)
NGN 248,029.92
SOL/KRW (South Korean Won)
₩229,898.20
SOL/SGD (Singapore Dollar)
S$227.11
Coinbase
How to Buy Solana
Good news! You can buy Solana on Coinbase's centralized exchange. We've included detailed instructions to make it easier for you to buy Solana.
Read more
Coinbase
How to Stake Solana
Solana is currently available to stake on Coinbase’s centralized exchange, subject to locations where staking is allowed.
Read more
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The price of Solana has increased by 1.74% in the last hour and decreased by 2.08% in the past 24 hours. Solana’s price has also fallen by 1.47% in the past week. The current price is €155.21 per SOL with a 24-hour trading volume of €4.83B. Currently, Solana is valued at 35.23% below its all time high of €239.62. This all-time high was the highest price paid for Solana since its launch.
The current circulating supply of Solana is 449,294,101.741 SOL which means that Solana has as total market cap of 449,294,101.741.
We update our Solana to EUR currency in real-time. Get the live price of Solana on Coinbase.
The current market cap of Solana is €69.68B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Solana is €239.62. This all-time high is highest price paid for Solana since it was launched.
Over the last 24 hours, the trading volume of Solana is €4.83B.
Assets that have a similar market cap to Solana include Bitcoin, Ethereum, Tether, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Solana is 449 million.
The median time that Coinbase customers hold Solana before selling it or sending it to another account or address is 145 days.
Solana ranks 9 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 96% of Coinbase users are buying Solana. In other words, 96% of Coinbase customers have increased their net position in Solana over the past 24 hours through trading.
Yes, Solana is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Solana guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.