throughput. The main functionality of Solana is the <strong>creation of decentralized applications (dApps), smart contracts, and other projects<\/strong>. SOL is the native token of the network. Take a look at the Solana price chart above to see the current SOL price.<\/p>\r\n<p>In essence, Solana is really similar to <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum. It’s like an alternative to Ethereum that offers more advanced scalability features and extremely fast transaction speeds. Ethereum can handle 40 transactions per second while <strong>Solana can handle up to almost 70,000 transactions per that same second<\/strong>.<\/p>\r\n<p>Solana network employs a unique consensus model created specifically for the Solana blockchain that is called <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-history-poh/">Proof-of-History (PoH)<\/strong><\/a>. It also incorporates the well-known <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/strong><\/a> mechanism. Though, essentially, \u200b\u200bProof-of-History could be simply perceived as an improved version of Proof-of-Stake.<\/p>\r\n<p>PoH was developed by the founder of the Solana himself – <strong>Anatoly Yakovenko.<\/strong> The protocol's structure ensures scalability and quick processing while maintaining low transaction costs. It’s responsible for transaction processing. <\/p>\r\n<p>Essentially, PoH records successfully completed operations and the interval between them. The time-based consensus method does not require confirmation of a transaction by all network nodes. Verifying that event A occurred prior to event B is all that is required. Each block sequence that is generated by the PoH processes is then validated by PoS, which is utilized as a monitoring tool for those operations.<\/p>\r\n<p>\u200b\u200bThus, the timestamp on each block can be reliably checked and verified because of this unique consensus mechanism used by Solana. A strategy like this cuts down on the amount of time needed to stop other participants from producing identical blocks. Besides, it drastically reduces the amount of time needed to validate a transaction or a smart contract.<\/p>\r\n<h2>The Developers of Solana<\/h2>\r\n<p>The story of Solana began in 2017 when <strong>Anatoly Yakovenko<\/strong> started constructing the network. He firstly released a whitepaper that described the new Proof-of-History consensus mechanism. Together with Greg Fitzgerald, Yakovenko founded the Solana Labs project. Soon after, Raj Gokal and Stephen Akridge joined the endeavor, and the four of them launched Solana blockchain in March 2020.<\/p>\r\n<h2>What Is SOL?<\/h2>\r\n<p>As mentioned before, SOL is the native token of the Solana blockchain. Essentially, the main purpose of SOL is to be <strong>a<\/strong> <strong>payment method for transaction fees<\/strong>. <\/p>\r\n<p>Though it also serves as a governance token. <strong>Nodes can stake (or lock) SOL tokens <\/strong>in order to take part in governance and improve their chances of being selected to create blocks. Besides that, token holders have the option of assigning their SOL coins to other validators, giving them access to their votes in exchange for a share of the block rewards.<\/p>\r\n<p>In order to hold SOL tokens, it’s necessary to have a crypto wallet. Solana supports a variety of wallets. For more experienced users Solana suggests utilizing Command Line Wallets, which support several wallet kinds. For regular users, on the other hand, Solana suggests using Ledger Live, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//binance-wallet-review/">Binance Wallet<\/strong><\/a>, or <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//ledger-nano-s/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Ledger Nano S<\/strong><\/a>.<\/p>\r\n<h2>Tokenomics of SOL<\/h2>\r\n<p><strong>SOL is inflationary,<\/strong> which means that it doesn’t have a fixed token supply. The biggest portion of the initial Solana token supply is dedicated to public and private sales as well as a release to the crypto market. The remaining portion was dedicated to the initial seed sale, a founding sale, the Solana Foundation, and the team behind Solana. In 2018, during the initial SOL seed sale, the Solana price was $0.04.<\/p>\r\n<p>Overall, due to a remarkable bull market, <strong>the SOL price increased by almost 700% in 2021<\/strong>. After that, the blockchain experienced a surge in popularity which brought SOL next to other huge cryptocurrencies in the crypto market.<\/p>\r\n<p>Besides, a huge impact on the Solana price was made by the debut of the <strong>Degenerate Ape NFT collection. <\/strong>Mostly due to the growth of the NFTs and gaming vertical and increased developer activity on the Solana network.<\/p>\r\n<p>However, the SOL price and Solana’s ambitions to become the <strong>\"Visa of crypto\"<\/strong> were affected due to the numerous disruptions experience by the blockchain. Additionally, It was claimed that Solana used unethical tokenomics to benefit venture capital investors. As of February 2022, this has led to a retracement in the Solana price.<\/p>\r\n<p>In any case, SOL is still a widely used cryptocurrency that is a strong rival to other leading cryptocurrencies.<\/p>","disclaimer":null,"url":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/solana-sol-price","crypto_currency_info":{"id":286,"crypto_currency_id":83,"description":"Solana (SOL) is a cryptocurrency launched in 2020. Solana has a current supply of 511,616,946.142289 with 322,890,547.1174316 in circulation. The last known price of Solana is 103.89851301 USD and is up 3.89 over the last 24 hours. It is currently trading on 277 active market(s) with $3,179,478,356.78 traded over the last 24 hours. More information can be found at https:\/\/solana.com.","tags":"[\"pos\",\"platform\",\"solana-ecosystem\",\"cms-holdings-portfolio\",\"kenetic-capital-portfolio\",\"alameda-research-portfolio\",\"multicoin-capital-portfolio\",\"okex-blockdream-ventures-portfolio\"]","platform":null,"category":"coin","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/5426.png","original_links":"{\"website\":[\"https:\\\/\\\/solana.com\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/solana\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/solana-labs\",\"https:\\\/\\\/forums.solana.com\"],\"chat\":[\"https:\\\/\\\/discord.gg\\\/Rz737rP\",\"https:\\\/\\\/t.me\\\/solana\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/explorer.solana.com\",\"https:\\\/\\\/solanabeach.io\"],\"reddit\":[\"https:\\\/\\\/reddit.com\\\/r\\\/solana\"],\"technical_doc\":[\"https:\\\/\\\/solana.com\\\/solana-whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/solana-labs\"],\"announcement\":[]}","links":"{\"website\":{\"solana.com\":\"https:\\\/\\\/solana.com\"},\"community\":{\"x.com\":\"https:\\\/\\\/x.com\\\/solana\",\"medium.com\":\"https:\\\/\\\/medium.com\\\/solana-labs\",\"reddit.com\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\",\"discord.com\":\"https:\\\/\\\/solana.com\\\/discord\",\"telegram.org\":\"https:\\\/\\\/t.me\\\/solana\"},\"explorer\":{\"explorer.solana.com\":\"https:\\\/\\\/explorer.solana.com\",\"solanabeach.io\":\"https:\\\/\\\/solanabeach.io\"},\"technical_doc\":\"https:\\\/\\\/solana.com\\\/solana-whitepaper.pdf\",\"source_code\":\"https:\\\/\\\/github.com\\\/solana-labs\"}","data":"{\"id\":5426,\"name\":\"Solana\",\"symbol\":\"SOL\",\"category\":\"coin\",\"description\":\"Solana (SOL) is a cryptocurrency launched in 2020. Solana has a current supply of 511,616,946.142289 with 322,890,547.1174316 in circulation. The last known price of Solana is 103.89851301 USD and is up 3.89 over the last 24 hours. It is currently trading on 277 active market(s) with $3,179,478,356.78 traded over the last 24 hours. More information can be found at https:\\\/\\\/solana.com.\",\"slug\":\"solana\",\"logo\":\"https:\\\/\\\/s2.coinmarketcap.com\\\/static\\\/img\\\/coins\\\/64x64\\\/5426.png\",\"subreddit\":\"solana\",\"notice\":\"\",\"tags\":[\"pos\",\"platform\",\"solana-ecosystem\",\"cms-holdings-portfolio\",\"kenetic-capital-portfolio\",\"alameda-research-portfolio\",\"multicoin-capital-portfolio\",\"okex-blockdream-ventures-portfolio\"],\"tag-names\":[\"PoS\",\"Platform\",\"Solana Ecosystem\",\"CMS Holdings Portfolio\",\"Kenetic Capital Portfolio\",\"Alameda Research Portfolio\",\"Multicoin Capital Portfolio\",\"OKEx Blockdream Ventures Portfolio\"],\"tag-groups\":[\"ALGORITHM\",\"CATEGORY\",\"PLATFORM\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\",\"CATEGORY\"],\"urls\":{\"website\":[\"https:\\\/\\\/solana.com\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/solana\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/solana-labs\",\"https:\\\/\\\/forums.solana.com\"],\"chat\":[\"https:\\\/\\\/discord.gg\\\/Rz737rP\",\"https:\\\/\\\/t.me\\\/solana\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/explorer.solana.com\",\"https:\\\/\\\/solanabeach.io\"],\"reddit\":[\"https:\\\/\\\/reddit.com\\\/r\\\/solana\"],\"technical_doc\":[\"https:\\\/\\\/solana.com\\\/solana-whitepaper.pdf\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/solana-labs\"],\"announcement\":[]},\"platform\":null,\"date_added\":\"2020-04-10T00:00:00.000Z\",\"twitter_username\":\"solana\",\"is_hidden\":0,\"date_launched\":\"2020-03-16T00:00:00.000Z\",\"contract_address\":[],\"self_reported_circulating_supply\":null,\"self_reported_tags\":null,\"self_reported_market_cap\":null}","launched_at":"2020-03-16 02:00:00","created_at":"2022-03-25T14:20:19.000000Z","updated_at":"2023-05-18T14:34:12.000000Z"},"social_profile":{"id":82,"profilable_type":"CryptoCurrency","profilable_id":83,"twitter":"{\"name\":\"Solana\",\"username\":\"@solana\",\"follower_count\":3579276,\"following_count\":2954,\"tweet_count\":19749,\"created_at\":\"2018-01-11 00:00:00\"}","reddit":"{\"subscribers\":449250,\"description\":\"Welcome to the official Solana subreddit. This is a place to post any information, news, or questions about the Solana blockchain. \\n\\nWeb-scale blockchain with speeds of 50k TPS.\\n\\nThis subreddit is operated by the Solana Foundation.\",\"created_at\":\"2018-03-27 00:00:00\",\"subreddit_type\":\"public\",\"subreddit_name\":\"r\\\/solana\",\"moderators\":15,\"hot\":[{\"title\":\"Welcome to \\\/r\\\/Solana - Read This To Get Started\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1jmghap\\\/welcome_to_rsolana_read_this_to_get_started\\\/\",\"created_at\":\"2025-03-29 06:46:19\",\"icons\":[]},{\"title\":\"Superteam Talent Introduces \\\"The Superteam Talent Scout Program\\\" For Builders, Stakers And Traders\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohiyt0\\\/superteam_talent_introduces_the_superteam_talent\\\/\",\"created_at\":\"2025-10-27 16:23:34\",\"icons\":[]},{\"title\":\"Banks don\\u2019t want XRP, they want Solana\",\"author\":\"Nice_Assumption_6396\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oikehq\\\/banks_dont_want_xrp_they_want_solana\\\/\",\"created_at\":\"2025-10-28 20:25:14\",\"icons\":[]},{\"title\":\"WesternUnion, The World's Largest Money Transfer Business, To Launch \\\"USDPT\\\" Exclusively On Solana\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oif26f\\\/westernunion_the_worlds_largest_money_transfer\\\/\",\"created_at\":\"2025-10-28 17:04:39\",\"icons\":[]},{\"title\":\"Solana ETF goes on move\\u2026 but the vibes feel different than past \\u201cfirst day\\u201d crypto moments\",\"author\":\"Gullible-Tale9114\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oikcnv\\\/solana_etf_goes_on_move_but_the_vibes_feel\\\/\",\"created_at\":\"2025-10-28 20:23:24\",\"icons\":[]},{\"title\":\"Grayscale Solana Trust ETF Approved For Listing And Registration By The SEC\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oiom1a\\\/grayscale_solana_trust_etf_approved_for_listing\\\/\",\"created_at\":\"2025-10-28 23:11:59\",\"icons\":[]},{\"title\":\"Introducing The FIRST Spot Solana ETP in the U.S, The Bitwise Solana Staking ETF\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oifcqn\\\/introducing_the_first_spot_solana_etp_in_the_us\\\/\",\"created_at\":\"2025-10-28 17:15:29\",\"icons\":[]},{\"title\":\"Kinetic launches PnL contest with $12,100 in prizes\",\"author\":\"kuivy\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oif1g9\\\/kinetic_launches_pnl_contest_with_12100_in_prizes\\\/\",\"created_at\":\"2025-10-28 17:03:54\",\"icons\":[]},{\"title\":\"Bitwise\\u2019s new $BSOL (Solana Staking ETF) launches with $220M AUM, already half of $SSK - no Day 1 hype, just organic Solana demand.\",\"author\":\"rachbitch\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oidpki\\\/bitwises_new_bsol_solana_staking_etf_launches\\\/\",\"created_at\":\"2025-10-28 16:15:14\",\"icons\":[]},{\"title\":\"i have Stuck Funds in a wallet\",\"author\":\"childsoupmaker\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oingaj\\\/i_have_stuck_funds_in_a_wallet\\\/\",\"created_at\":\"2025-10-28 22:24:12\",\"icons\":[]},{\"title\":\"Unrealized PNL streaming \\\/ price data streaming\",\"author\":\"Substantial_Roll9355\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oipx93\\\/unrealized_pnl_streaming_price_data_streaming\\\/\",\"created_at\":\"2025-10-29 00:07:20\",\"icons\":[]},{\"title\":\"Is Solana the next big institutional play after BTC & ETH?\",\"author\":\"BitMartExchange\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohxe8n\\\/is_solana_the_next_big_institutional_play_after\\\/\",\"created_at\":\"2025-10-28 02:00:49\",\"icons\":[]},{\"title\":\"TLDR Of Current Solana Institutional Adoption \\\/ ETF | By @KEMOS4BE\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oiosz7\\\/tldr_of_current_solana_institutional_adoption_etf\\\/\",\"created_at\":\"2025-10-28 23:19:52\",\"icons\":[]},{\"title\":\"Recommendation for a SOL non-custodial wallet that shows natively staked SOL in with the main SOL balance?\",\"author\":\"markcbh\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oiaelr\\\/recommendation_for_a_sol_noncustodial_wallet_that\\\/\",\"created_at\":\"2025-10-28 14:10:07\",\"icons\":[]},{\"title\":\"Best way to stake SOL?\",\"author\":\"Histole\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oifdse\\\/best_way_to_stake_sol\\\/\",\"created_at\":\"2025-10-28 17:16:34\",\"icons\":[]},{\"title\":\"HeliusLabs RPC And Data Upgrade For Solana, Combine \\\"GetSignaturesForAddress\\\" And \\\"GetTransaction\\\" Into One\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oie5qx\\\/heliuslabs_rpc_and_data_upgrade_for_solana\\\/\",\"created_at\":\"2025-10-28 16:31:32\",\"icons\":[]},{\"title\":\"SolanaFloor - Why Did Solana Survive What BASE Couldn't?\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oik2c6\\\/solanafloor_why_did_solana_survive_what_base\\\/\",\"created_at\":\"2025-10-28 20:12:30\",\"icons\":[]},{\"title\":\"Solandy - The New SBPF Linker [Solana Tutorial] - Oct 14th '25\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oik0qi\\\/solandy_the_new_sbpf_linker_solana_tutorial_oct\\\/\",\"created_at\":\"2025-10-28 20:10:50\",\"icons\":[]},{\"title\":\"SOL BROTHERS Podcast - This Week on SOL: The Solana Aggregator Wars (Jupiter vs. Titan)\",\"author\":\"ansi09\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oijx52\\\/sol_brothers_podcast_this_week_on_sol_the_solana\\\/\",\"created_at\":\"2025-10-28 20:07:03\",\"icons\":[]},{\"title\":\"is this fud or we need to feel a bit of heat?\",\"author\":\"NckyDC\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oiju1o\\\/is_this_fud_or_we_need_to_feel_a_bit_of_heat\\\/\",\"created_at\":\"2025-10-28 20:03:54\",\"icons\":[]},{\"title\":\"NYSE approves listing for Bitwise Solana Staking ETF!\",\"author\":\"HaussmannCoyote\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohizdp\\\/nyse_approves_listing_for_bitwise_solana_staking\\\/\",\"created_at\":\"2025-10-27 16:24:10\",\"icons\":[]},{\"title\":\"spot SOL ETFs coming very soon\",\"author\":\"Visual_Building_1666\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohrg1x\\\/spot_sol_etfs_coming_very_soon\\\/\",\"created_at\":\"2025-10-27 21:40:43\",\"icons\":[]},{\"title\":\"Why are native staking rewards higher than liquid ones according to Phantom?\",\"author\":\"No-Tea-592\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1oi0hxi\\\/why_are_native_staking_rewards_higher_than_liquid\\\/\",\"created_at\":\"2025-10-28 04:42:04\",\"icons\":[]},{\"title\":\"$19B Liquidated, Zero Failures: A Protocol-by-Protocol Breakdown\",\"author\":\"SolanaDeFi\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohlzfh\\\/19b_liquidated_zero_failures_a_protocolbyprotocol\\\/\",\"created_at\":\"2025-10-27 18:14:20\",\"icons\":[]},{\"title\":\"WEEKLY CHECK-IN UPDATE\\ud83e\\ude90\\ud83d\\udd25\",\"author\":\"Grouchy-Currency-953\",\"link\":\"https:\\\/\\\/reddit.com\\\/r\\\/solana\\\/comments\\\/1ohp2gc\\\/weekly_checkin_update\\\/\",\"created_at\":\"2025-10-27 20:09:26\",\"icons\":[]}]}","github":"{\"public_repos\":116,\"bio\":null,\"type\":\"Organization\",\"username\":\"solana-labs\",\"user_link\":\"https:\\\/\\\/github.com\\\/solana-labs\",\"created_at\":\"2018-01-19 00:00:00\"}","telegram":"{\"title\":\"Solana\",\"description\":\"High performance blockchain based on Proof of History. https:\\\/\\\/solana.com\\n\\nThis account is owned and operated by the Solana Foundation. \\n\\nThis group is used for informational purposes only.\",\"chat_id\":\"@solana\",\"member_count\":70453}","domain":"{\"domain_rating\":84,\"ahrefs_top\":5025,\"traffic\":383984.6270515916,\"website\":\"https:\\\/\\\/solana.com\"}"},"halving_page":null,"buy_page":{"id":2932,"crypto_currency_id":83,"button_link":null,"slug":"solana-sol","created_at":"2023-05-24T12:46:26.000000Z","updated_at":"2024-01-22T13:26:16.000000Z","content":"<h2>Where to Buy Solana (SOL)?<\/h2>\n<p>If you want to <strong>buy Solana securely<\/strong>, your best bet is to choose a renowned cryptocurrency exchange like <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance<\/strong><\/a>. Such exchanges are known to take security seriously, providing such measures as 2FA, CCSS, and so on, as well as requiring users to go through the KYC process.<\/p>\n<p>Moreover, Binance (and other big exchanges) have a <strong>high trading volume<\/strong>, which is an especially important factor when it comes to a smooth trading experience. You see, if you try to buy SOL on an exchange that has low volume, it will be hard to find sellers.<\/p>\n<p>Lastly, when it comes to Binance, it is one of the top places where to buy SOL because it offers <strong>low fees<\/strong>. Its trading fees don't exceed 0.1%, and the best part is that you can even get a discount if you use <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-binance-coin-bnb/">BNB tokens to cover them.<\/p>","middle_cta_text":"While there are several ways to acquire Solana, buying SOL with fiat is definitely one of the most convenient ones, especially using a credit card. If you buy Solana with a credit card, you\u2019ll receive your crypto assets instantly, which is very useful in the fast-paced crypto world. Though, besides that, you can also get Solana by trading Fiat-SOL pairs on prominent exchanges. Both processes are pretty self-explanatory, even if you\u2019re a beginner.","introduction":"Undoubtedly, there\u2019s a multitude of reasons why people buy cryptocurrencies. However, if you want to buy Solana with a credit card, you\u2019re probably interested in its smart contract functionality or its low transaction costs, which make it a more cost-effective investment compared to some other crypto assets.","reasons":{"titles":["Smart Contract Functionality","Low-Cost Investment Opportunity","Create Scalable dApps","Make Extremely Fast Transactions","What Can Solana & Similar Altcoins Be Used For?"],"texts":["Often dubbed the \u201cEthereum Killer,\u201d Solana provides users with the tools and environment to develop smart contracts and decentralized applications (dApps). However, it seeks to become an improved version of Ethereum, providing users with advanced scalability features and exceptionally fast transaction speeds.","Solana is known to have very low transaction fees - each one only costs a fraction of a penny. As a result, many people may find it to be a cost-effective investment. This could be one of the primary factors influencing traders to buy Solana with a credit card (or other forms of payment, for that matter).","Once you buy Solana with a credit or debit card, you can join the fastly-growing Solana\u2019s decentralized application (dApp) network. The best part about it, though, is that Solana is known to be extremely scalable thanks to the Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms it employs. Thus, it allows users to develop scalable decentralized applications (dApps).","Solana can handle around 70,000 transactions per second, which makes it one of the fastest crypto networks out here. As a matter of fact, it makes it one of the fastest networks in the whole financial industry. Mastercard, for example, can only handle around 5,000 transactions per second. Thus, this definitely is one of the main selling points that influence people to buy SOL with a debit or credit card.","There are many reasons why people want to buy Solana with a credit card. However, one of the prominent ones is the fact that it has super fast transaction speeds. Besides that, the SOL token is an integral part of Solana\u2019s dApp network."]},"benefits":{"texts":["One of the main things people tend to do once they buy Solana with a credit card is trade it for other crypto assets on <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//best-cryptocurrency-exchange/">popular cryptocurrency exchanges<\/a>. Apart from the possibility of gaining profit, another reason why they trade SOL is to get other crypto assets. You see, while you can buy SOL with a credit card, you cannot do it with all cryptos. <strong>This is exactly where Solana trading comes in handy<\/strong>.","Once you buy Solana with a credit card, you have to decide where to store it. One of the best options, though, is choosing a secure <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//hardware-crypto-wallet/">hardware wallet<\/a>, which will ensure that no hacker can steal your crypto. This is especially important if you plan to <strong>hold on to your Solana tokens with the hope that their value will skyrocket in the future<\/strong>. Overall, holding crypto is one of the most popular crypto investment techniques.","So, you considered whether to buy Solana with a credit card or not and decided to go with the former option. However, you don\u2019t want to store it or trade it - <em>what else can you do?<\/em> Well, you might want to <strong>spend it<\/strong>! As crypto becomes more and more adopted in the world, there are many merchants who already accept it as a payment method. Thus, you might even be able to buy tonight's dinner with Solana.","Do you want to buy Solana with a debit card and send it to your friends or family members as a gift? Great, you can definitely do that. As long as your friends or family members <strong>have a crypto wallet that supports SOL<\/strong>, you\u2019re good to go. Besides, with the extremely fast transaction speed and low costs, you\u2019ll be able to send Solana in seconds and do it in a cost-effective manner!","After you buy SOL with a debit or credit card, you don\u2019t necessarily have to hold on to it. On the contrary, you can participate in day trading and <strong>sell it once any potential profit appears<\/strong>. However, if you decide to hold it for a while, you can also sell it whenever its worth rises. Of course, always keep in mind that both day trading and long-term holding have their own drawbacks and risks.","You probably already have some knowledge about SOL if you\u2019re planning to buy Solana with a debit or credit card. However, with the quickly evolving cryptocurrency world, <strong>there\u2019s only so much you can already know<\/strong>. Though, you can always <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//tutorials/">check out our guides<\/a> to find out more about everything related to crypto, including Solana and other crypto assets."]},"faq":{"answers":["<p>Solana is one of the more-popular crypto assets on the market. It is often known as an “<em>improved version of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum” or one of the “<em>Ethereum Killers<\/em>.” The Solana blockchain <strong>supports the creation of smart contracts and dApps<\/strong>, while at the same time boasting extremely <strong>fast transaction speeds<\/strong> and having <strong>advanced scalability<\/strong> measures.<\/p>","<p>One of the more prominent things that make Solana stand out from <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//best-cryptocurrency/">other cryptocurrencies<\/strong><\/a> is the fact that its network employs the <strong>Proof-of-History (PoH)<\/strong> consensus mechanism alongside the <strong>Proof-of-Stake (PoS)<\/strong> consensus mechanism. It <strong>puts all transaction confirmations in a structured chronological order<\/strong>.<\/p>","<p>The possibility of <strong>creating dApps and smart contracts<\/strong> on Solana is surely one of the features it is mostly known for. Just like Ethereum, it allows various DeFi businesses to enter the FinTech industry by deploying dApps on its blockchain. However, besides that, Solana is known for being able to <strong>handle up to 70,000 transactions per second<\/strong> (<em>which is a lot<\/em>), as well as being <strong>extremely scalable<\/strong>.<\/p>","<p>Solana can be used for various purposes, including trading, holding, spending, sending, and selling it. <strong>Fast and low-cost transactions<\/strong> of the Solana network make it a great medium for all the aforementioned use cases. However, besides that, you can also <strong>stake Solana to generate passive income<\/strong> and participate in Solana’s PoS consensus mechanism. Thus, even if you buy Solana with a credit or debit card, you might be able to get your investment back through staking.<\/p>","<p>It’s always hard to answer the question of whether a certain crypto (<em>in this case, Solana<\/em>) is worth buying. There are many different factors that can influence the answer, including <strong>its current price, news in the crypto world, regulations, and, of course, your reasons for buying it<\/strong>. However, based on the number of traders who seek to buy Solana with a crypto card and the peculiarities of the network itself, it could be said <strong>it is pretty worth it<\/strong>!<\/p>","<p>Finding a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//best-cryptocurrency-exchange/">secure and well-known cryptocurrency exchange<\/strong><\/a> is surely the best way to buy Solana. Now, while popular exchanges usually provide various crypto purchasing methods, <strong>buying Solana with a credit or debit card<\/strong> is, by far, the most popular and convenient one, especially if SOL is your first crypto asset.<\/p>"],"questions":["What is Solana?","How does Solana differ from other cryptocurrencies?","What are the main features of Solana?","What can Solana be used for?","Is Solana worth buying?","What is the best way to buy Solana?"]},"status":"published","published_at":"2023-05-24T12:46:26.000000Z","url":"https:\/\/www.bitdegree.org\/crypto\/buy-solana-sol"}}"
:fiat-currency=""USD"">
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Live SOL Price Analysis
The current real time Solana price is $194.69, and its trading volume is $3,712,523,819 in the last 24 hours. SOL price has plummeted by
3.73%
in the last day, and increased by
5.46%
in the last 7 days. It's important to note that current Solana market capitalization is $107,022,183,937, Talking about circulating supply, SOL has 549,700,601 coins. Currently, Solana rank on the market is #6.
Solana price today is
33.18%
below
all time high, and it is
38,438.05%
above
all time low.
All data and prices are updated in real-time. The most active and popular exchanges for buying or selling SOL are Kraken, Binance & Coinbase. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.
What Is Solana (SOL)?
Solana is an open-source blockchain that has an especially high throughput. The main functionality of Solana is the creation of decentralized applications (dApps), smart contracts, and other projects. SOL is the native token of the network. Take a look at the Solana price chart above to see the current SOL price.
In essence, Solana is really similar to Ethereum. It’s like an alternative to Ethereum that offers more advanced scalability features and extremely fast transaction speeds. Ethereum can handle 40 transactions per second while Solana can handle up to almost 70,000 transactions per that same second.
Solana network employs a unique consensus model created specifically for the Solana blockchain that is called Proof-of-History (PoH). It also incorporates the well-known Proof-of-Stake (PoS) mechanism. Though, essentially, Proof-of-History could be simply perceived as an improved version of Proof-of-Stake.
PoH was developed by the founder of the Solana himself – Anatoly Yakovenko. The protocol's structure ensures scalability and quick processing while maintaining low transaction costs. It’s responsible for transaction processing.
Essentially, PoH records successfully completed operations and the interval between them. The time-based consensus method does not require confirmation of a transaction by all network nodes. Verifying that event A occurred prior to event B is all that is required. Each block sequence that is generated by the PoH processes is then validated by PoS, which is utilized as a monitoring tool for those operations.
Thus, the timestamp on each block can be reliably checked and verified because of this unique consensus mechanism used by Solana. A strategy like this cuts down on the amount of time needed to stop other participants from producing identical blocks. Besides, it drastically reduces the amount of time needed to validate a transaction or a smart contract.
The Developers of Solana
The story of Solana began in 2017 when Anatoly Yakovenko started constructing the network. He firstly released a whitepaper that described the new Proof-of-History consensus mechanism. Together with Greg Fitzgerald, Yakovenko founded the Solana Labs project. Soon after, Raj Gokal and Stephen Akridge joined the endeavor, and the four of them launched Solana blockchain in March 2020.
What Is SOL?
As mentioned before, SOL is the native token of the Solana blockchain. Essentially, the main purpose of SOL is to be a payment method for transaction fees.
Though it also serves as a governance token. Nodes can stake (or lock) SOL tokens in order to take part in governance and improve their chances of being selected to create blocks. Besides that, token holders have the option of assigning their SOL coins to other validators, giving them access to their votes in exchange for a share of the block rewards.
In order to hold SOL tokens, it’s necessary to have a crypto wallet. Solana supports a variety of wallets. For more experienced users Solana suggests utilizing Command Line Wallets, which support several wallet kinds. For regular users, on the other hand, Solana suggests using Ledger Live, Binance Wallet, or Ledger Nano S.
Tokenomics of SOL
SOL is inflationary, which means that it doesn’t have a fixed token supply. The biggest portion of the initial Solana token supply is dedicated to public and private sales as well as a release to the crypto market. The remaining portion was dedicated to the initial seed sale, a founding sale, the Solana Foundation, and the team behind Solana. In 2018, during the initial SOL seed sale, the Solana price was $0.04.
Overall, due to a remarkable bull market, the SOL price increased by almost 700% in 2021. After that, the blockchain experienced a surge in popularity which brought SOL next to other huge cryptocurrencies in the crypto market.
Besides, a huge impact on the Solana price was made by the debut of the Degenerate Ape NFT collection. Mostly due to the growth of the NFTs and gaming vertical and increased developer activity on the Solana network.
However, the SOL price and Solana’s ambitions to become the "Visa of crypto" were affected due to the numerous disruptions experience by the blockchain. Additionally, It was claimed that Solana used unethical tokenomics to benefit venture capital investors. As of February 2022, this has led to a retracement in the Solana price.
In any case, SOL is still a widely used cryptocurrency that is a strong rival to other leading cryptocurrencies.
What's Solana trading volume in the last 24 hours?
SOL has a trading volume of $3,712,523,819 in the last 24 hours.
What's Solana highest price ever?
SOL has a highest price of $291.37, which was reached on Jan 19, 2025 (9 months 1 week ago).
What's Solana lowest price ever?
SOL has a lowest price of $0.5052, which was reached on May 11, 2020 (5 years 5 months ago).
What are the best exchanges for buying and selling SOL?
What are the safest hardware wallets for keeping SOL?
According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping Solana. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.
Pages Related to Solana
Read the hottest Crypto News.
Watch Animated Crypto Video Explainers.
Learn Crypto From Scratch.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
3.57M
Followers: 3,579,276
0.24%
Following
2,954
1.46%
Posts count
19,749
1.52%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
449.25K
Subscribers: 449,250
0.43%
Subreddit type
public
Moderators
15
0.00%
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
70.45K
Members: 70,453
0.50%
Title
Solana
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
84 / 100
0.00%
Ahrefs Rank
5,025
2.38%
Organic Traffic (mo.)
383,985
36.16%
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
116
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
-
Watchers
-
Forks
-
Language
-
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