Solana
SOLRank #7$84.94
1h
-0.47%
24h
+1.67%
7d
-3.83%
Key Statistics
Market Cap
$48.9B
24h Volume
$2.8B
Circ. Supply
576.0M SOL
Total Supply
625.3M SOL
Max Supply
∞
All-Time High
$293.31
ATH Date
Jan 19, 2025
Market Cap Rank
#7
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Solana is a high-performance Layer 1 blockchain designed for mass adoption by providing a fast, secure, and low-cost environment for decentralized applications. It distinguishes itself by scaling globally without the use of complex sharding or multiple layers, instead maintaining a single, unified ledger to avoid liquidity fragmentation. This architecture allows it to process thousands of transactions per second with sub-second finality, often at a cost of less than a penny per transaction. The network operates on a unique hybrid model that combines Proof of Stake with an innovation called Proof of History, which functions as a decentralized clock to timestamp transactions. This system reduces the need for constant node communication, allowing the Sealevel engine to run non-conflicting smart contracts in parallel across multiple CPU cores. Further efficiency is gained through the Gulf Stream protocol, which reduces confirmation times by forwarding transactions to validators before the current block is finished. Founded in 2017 by Anatoly Yakovenko, Solana is now supported by the Switzerland-based Solana Foundation and significant institutional investors like Andreessen Horowitz and Polychain Capital. The platform’s native token, SOL, serves as the primary currency for paying transaction fees, participating in network governance, and securing the system through staking. Solana has also seen significant institutional adoption ranging from spot Solana ETFs to major partnerships including Visa's 2025 launch of USDC settlement on the network and the tokenization of public equity by firms like Galaxy Digital.
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Cointelegraph · 1h ago
Quick Converter
1 SOL = $84.94 · Rate refreshes live
Frequently Asked Questions
Solana (SOL) is ranked #7 by market capitalisation with a current market cap of $48.9B. Solana is a high-performance Layer 1 blockchain designed for mass adoption by providing a fast, secure, and low-cost environment for decentralized applications.
You can buy Solana on several major exchanges: Binance (global, lowest fees), Bybit (great for derivatives), KuCoin (widest altcoin selection), and Coinbase (best for US users). If you're in Nigeria, South Africa, Kenya, or Malaysia, Luno is an excellent regulated option. Simply create an account, verify your identity, deposit funds, and place a market or limit buy order for SOL.
Whether Solana is a good investment depends on your financial goals and risk tolerance. Cryptocurrency is highly volatile. Solana has a current market cap of $48.9B, which reflects its market position. Always do your own research (DYOR), never invest more than you can afford to lose, and consider consulting a financial advisor. CoinGlance does not provide financial advice.
The price of Solana is determined by supply and demand on cryptocurrency exchanges worldwide. Key factors include: overall market sentiment, Bitcoin's price movement, protocol developments, regulatory news, macroeconomic factors, and social media activity. The current 24h trading volume of $2.8B reflects market activity.
You can store Solana in several ways. Exchange wallets (like Binance or Coinbase) are convenient but carry counterparty risk. Software wallets give you control of your private keys. For maximum security, hardware wallets like Ledger or Trezor store your keys offline. Remember: not your keys, not your coins.
Bitcoin (BTC) is the original cryptocurrency, primarily used as a store of value. Solana (SOL) is a different asset with its own unique use case. Both can be purchased on the same exchanges, but they serve different purposes in a portfolio.