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Solana Price

(SOL)

$74.68
0.00%(5m)

1m5m15m1h8h1d1W
Solana (SOL) Live Price Chart

    Solana Live Price Data

    Solana is currently trading at 74.68, with a 24-hour trading volume of 234601.92199986. Over the past hour, the price of Solana changed by -1.76%, and over the past week, its value in dropped by -5.74%. The circulating supply of Solana is 582,517,284 SOL, with a market cap of 43230366213.79188755826123298600 , down -1.76% in the last 24 hours. Solana is ranked #7 by market cap.

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    Note: This data is for reference only.
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    SOL(SOL) Profile

    altRank7
    rate--
    Expand
    $74.2
    $76.86

    ATH
    $294.33494871
    Price Change (1h)
    +0.12%
    Price Change (24h)
    -1.76%
    Price Change (7d)
    -5.74%
    Market Cap
    24h Volume
    Circulating Supply
    582,517,284
    Max Supply
    --

    About Solana

    • What Is Solana (SOL) Crypto?

      Solana (SOL) is a high-performance Layer-1 blockchain platform designed to support decentralized applications (dApps) and cryptocurrencies. It aims to provide fast, secure, and scalable infrastructure for decentralized applications.

       

      Solana's unique Proof of History (PoH) consensus mechanism timestamps transactions, allowing the network to process thousands of transactions per second. This results in low transaction fees and quick processing times.

       

      The native cryptocurrency of the Solana network is SOL. You can use SOL to pay for transaction fees, stake to support network security, and participate in governance decisions.

       

      Developers choose Solana for its speed and efficiency, making it a popular choice for building dApps, decentralized finance (DeFi) platforms, and non-fungible token (NFT) marketplaces.

       

      Solana vs. Ethereum

      Ethereum remains a significant blockchain platform; however, Solana offers differences such as a hybrid consensus model and faster transaction speeds. Its lower transaction fees are suited for applications with high transaction volumes, like gaming and DeFi applications.

       

      Technologies employed by Solana, such as Proof of Stake (PoS), PoH, transaction parallelization technology (Sealevel), and 'Gulf Stream' technology, enable secure and efficient transaction verification. These technologies contribute to Solana's efficiency and scalability in the blockchain industry.


      Learn more about the differences between Solana and Ethereum.

    • How Does Solana Blockchain Work?

      Solana operates as a high-performance blockchain platform designed to support decentralized applications (dApps) and cryptocurrencies. It achieves this through a combination of innovative technologies that enhance speed and scalability.

       

      At its core, Solana utilizes a unique Proof of History (PoH) mechanism. PoH creates a historical record that proves events have occurred at a specific moment in time, allowing the network to process transactions quickly and efficiently.

       

      In addition to PoH, Solana employs a Proof of Stake (PoS) consensus mechanism. In PoS, validators are chosen to create new blocks and confirm transactions based on the number of SOL tokens they hold and are willing to "stake" as collateral. This approach enhances security and decentralization.

       

      Solana's architecture also includes several key components:

       

      > Turbine: A block propagation protocol that breaks data into smaller packets, enabling faster transmission across the network.

       

      > Gulf Stream: A mempool-less transaction forwarding protocol that pushes transactions to the edge of the network, reducing confirmation times.

       

      > Sealevel: A parallel smart contracts runtime that allows for the simultaneous processing of thousands of smart contracts, improving efficiency.

       

      These innovations enable Solana to process thousands of transactions per second with low fees, making it a robust platform for developers and users seeking speed and scalability in blockchain applications.

    • History of Solana Network and SOL Coin

      Solana was founded in 2017 by Anatoly Yakovenko, a former Qualcomm engineer, who introduced the concept of PoH consensus to enhance blockchain scalability. Solana launched its mainnet in March 2020, prioritizing speed and scalability. Here are the key highlights from the Solana roadmap since launch: 

       

      > 2021: DeFi and NFTs grew on Solana, with projects like Serum and Raydium enhancing liquidity, and platforms like Solanart drawing NFT creators and collectors.

       

      > 2022: Infrastructure improvements focused on stability and scaling, including QUIC and stake-weighted QoS for better network performance.

       

      > 2023: Solana launched its Mobile Stack (SMS) for blockchain integration on mobile and began Firedancer development with Jump Crypto to improve network resilience.

       

      > 2024: Introduced token extensions like confidential transfers, collaborated with AWS and Google Cloud to strengthen institutional support, and expanded development tools for broader adoption.

    • What Is SOL Token Used for?

      The Solana (SOL) token serves several key functions within the Solana blockchain ecosystem:

       

      1. Pay Transaction Fees on Solana Network: You use SOL to pay for transaction fees when transferring funds or interacting with smart contracts on the network.

       

      2. Staking Solana: By staking SOL, you can participate in the network's Proof of Stake consensus mechanism, helping to secure the network and earning rewards in return.

       

      3. Governance Participation: Holding and staking SOL may grant you the ability to vote on governance proposals, influencing the future direction of the Solana network.

       

      4. Access DeFi and dApps: SOL is used within various decentralized finance (DeFi) platforms and dApps built on Solana, facilitating activities like lending, borrowing, and trading.

       

      5. Trading SOL on Exchanges: You can trade SOL on cryptocurrency exchanges like KuCoin, engaging in spot market transactions to buy or sell SOL against other cryptocurrencies. 

       

      Learn more about how to stake SOL on Phantom wallet.

    • What Is Solana Tokenomics?

      Solana's tokenomics encompass the economic structure and distribution of its native cryptocurrency, SOL. At its inception, Solana had an initial total supply of 489 million SOL tokens, with no capped maximum supply.

       

      SOL Token Distribution

      > Seed Sale: 15.86% allocated to early investors.

      > Founding Sale: 12.63% designated for founding entities.

      > Validator Sale: 5.07% reserved to incentivize validators.

      > Strategic Sale: 1.84% set aside for strategic partnerships.

      > Public Auction Sale: 1.60% made available to the public.

      > Team: 12.50% allocated to the Solana team.

      > Foundation: 12.50% held by the Solana Foundation.

      > Community Reserve: 38.00% reserved for community initiatives.

    FAQ

    • How much is 1 Solana (SOL) worth?

    • Is Solana (SOL) a Good Investment?

    • What Is Solana Price Prediction?

    • How to Add Solana to MetaMask

    • How to Swap Solana (SOL) to Ethereum (ETH) on Phantom Wallet

    • How to Stake SOL on Solana Network

    • How to Add Tokens to Solana Account on Ledger

    • What is the all-time high price of Solana (SOL)?

    • What is the all-time low price of Solana (SOL)?

    • How much Solana (SOL) is there in circulation?

    • How do I store Solana (SOL)?