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Solana

SOL

Price
$13.51
12/8/2022, 8:49:50 AM
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Market

Market stats

Market cap

$4.9B

Volume (24h)

$204.4M

Circulating supply

366.0M SOL

Typical hold time

121 days

Trading activity

Not enough data

Popularity

#13

All time high

$260.06

Price change (1h)

-0.15%

Price change (24h)

-0.22%

Price change (7d)

-2.1%

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Solana is on the decline this week.

The price of Solana has fallen by 2.10% in the past 7 days. The price declined by 0.22% in the last 24 hours. In just the past hour, the price shrunk by 0.15%. The current price is $13.51 per SOL. Solana is 94.81% below the all time high of $260.06.

The current circulating supply is 365,961,612.182 SOL.

About

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.

What is Solana?

Solana is a crypto-computing platform that aims to achieve high transaction speeds without sacrificing decentralization. 

Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running decentralized apps (dapps) — everything from Degenerate Apes to the Serum decentralized exchange (or DEX). Its major innovation is speed, via a bundle of new technologies including a consensus mechanism called proof of history (PoH). Solana can process around 50,000 transactions per second — compared to 15 or less for Ethereum (the ETH2 upgrade, which is currently underway, is designed to make Ethereum much faster than it is now).

Because Solana is so fast, congestion and fees remain low. Developers hope high speeds and low fees will eventually enable Solana to scale to compete with centralized payment processors like Visa. 

Solana’s native cryptocurrency is SOL, which is used to pay transaction fees and for staking. It also gives holders the right to vote in future upgrades. SOL is available to buy and sell via exchanges like Coinbase. 

What makes Solana unique?

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 the ones credit-card companies use: they’re slower. As of August 2021, Ethereum typically processes fewer than 15 transactions per second, 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.”

How can I stake Solana?

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 knowhow.) 

SOL also serves as a “governance token,” meaning that holders also are able to vote on future upgrades and governance proposals submitted by the Solana community.

What kinds of applications run on Solana?

Like Ethereum, Solana is a computing platform that can interact with smart contracts. Smart contracts power a wide range of applications, from NFT marketplaces and DeFi, to games and decentralized lotteries. 

The crypto app ecosystem on Solana supports billions of dollars worth of assets. One reason a user might choose an app that runs on Solana is that speeds are high and congestion is low — resulting in lower fees. 

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.

Where do I buy Solana?

You can buy, send, and receive Solana using various crypto exchanges and wallets, including Coinbase and Coinbase Wallet.

Released: February 2018

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Coinbase Bytes

SOL NFT

Bright spots in the NFT market

COINBASE BYTES • OCT 05, 2022

Corners of the NFT market are quietly defying the crypto market slump. Since January, NFT trading volume has dropped about 82% from $5.4 billion to $947 million in September. But it’s not all bad news! Solana NFT sales nearly doubled from August to September, gaining ground on the Ethereum-dominated space.
    SOL-based NFT sales jumped to $135 million last month, boosted by projects like y00ts and ABC. Per DappRadar, Magic Eden, the top Solana marketplace, saw $127 million of volume in September, compared to top NFT platform OpenSea’s $350 million — a potential sign that the NFT market is diversifying.
    In July, Magic Eden launched a gaming venture arm, betting that NFTs will eventually become crucial infrastructure for video games, despite backlash from some gamers. (Post-Merge, the energy usage for the mainly ETH-based market has been drastically reduced, addressing a common concern.)

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FAQ

What is the current price of Solana?

The price of 1 Solana currently costs $13.51.

What is the market cap of Solana?

The current market cap of Solana is $4.94B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Solana?

The all-time high of Solana is $260.06. This all-time high is highest price paid for Solana since it was launched.

What is the 24 hour trading volume of Solana?

Over the last 24 hours, the trading volume of Solana is $204.44M.

What other assets are similar to Solana?

Assets that have a similar market cap to Solana include Dai, Litecoin, Wrapped TRON, and many others. To see a full list, see our comparable market cap assets.

How many Solana are there?

The current circulating supply of Solana is 366 million.

What is the typical holding time of Solana?

The median time that Coinbase customers hold Solana before selling it or sending it to another account or address is 121 days.

What is the relative popularity of Solana?

Solana ranks 9 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Solana?

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.