Back to currencies

Solana
#6 SOL

Solana

-4.02%

$176.55

$94,961,409,056

Total Market Cap

605,608,539 SOL

Circulating Supply

$14,230,106,517

24h Volume

$94,961,409,056

Total Market Cap

605,608,539 SOL

Circulating Supply

$14,230,106,517

24h Volume

Technical analysis

Latest Signals

# Signal Exchange Type Age
Cryptocurrency Converter
Solana
SOL
Solana
USD
USD
US Dollar

Solana can be found on the following exchanges

Logo Exchange Price Pair Spread 24h Volume
Binance logo Binance $176.88 SOLUSDC $0.01 $138,644,425
Binance.us logo Binance.us $177.09 SOLUSD $0.52 $94,496
BingX logo BingX $176.87 SOL/USDC $0.02 $2,124,246
Bitfinex logo Bitfinex $176.8 SOL/USD $0.01 $5,533,300
BitMart logo BitMart $176.8459 SOL/USDC $2.48 $1,030,487
Bitvavo logo Bitvavo $176.78 SOL/USDC $0.11 $620,573
Bybit logo Bybit $176.88 SOL/USDC $0.01 $36,330,551
Coinbase Advanced logo Coinbase Advanced $176.9 SOL-USD $0.01 $309,746,382
Crypto.com logo Crypto.com $176.88 SOL/USD $0.01 $56,033,579
EXMO logo EXMO $177.8025 SOL/USDC $0.49 $124
HitBTC logo HitBTC $177.768 SOL/USDC $0.18 $135
HTX logo HTX $176.797 SOL/USDT $0.00 $25,963,286
Kraken logo Kraken $176.93 SOL/USD $0.01 $44,585,145
KuCoin logo KuCoin $176.87 SOL/USDC $0.04 $2,018,326
OKX logo OKX $176.77 SOL/USD $0.03 $1,860,221
Poloniex logo Poloniex $176.729 USDT_SOL $0.00 $24,393,550
ProBit Global logo ProBit Global $176.74 SOL/USDT $0.01 $23,897,462

Solana (SOL): The High-Performance Blockchain

What is Solana (SOL)?

Solana (SOL) is a high-performance, open-source blockchain platform designed to support decentralized applications (dApps) and cryptocurrencies. Launched in March 2020 by the Solana Foundation, this innovative blockchain has quickly risen to become one of the top cryptocurrencies by market capitalization. SOL is the native cryptocurrency of the Solana network, serving as both a utility token and a means of transferring value within the ecosystem.

How Does Solana (SOL) Work?

Solana (SOL) operates on a unique consensus mechanism that combines Proof of Stake (PoS) with a novel protocol called Proof of History (PoH). This innovative approach allows Solana to process transactions at unprecedented speeds—up to 65,000 transactions per second—making it one of the fastest blockchains in the world.

The Proof of History protocol works by creating a historical record that proves that an event occurred at a specific moment in time. This timestamp function enables the network to maintain efficiency by not requiring validators to agree on time, drastically reducing the communication overhead needed to validate transactions.

Key Technical Features of Solana (SOL):
  • Tower BFT: An optimized version of Practical Byzantine Fault Tolerance that leverages the PoH time source.
  • Turbine: A block propagation protocol that breaks data into smaller chunks for more efficient network transmission.
  • Gulf Stream: A transaction forwarding protocol that allows validators to execute transactions ahead of time.
  • Sealevel: A parallel smart contracts runtime that enables thousands of smart contracts to run concurrently.

Staking and Mining Solana (SOL)

Solana (SOL) does not support traditional mining as it uses a Proof of Stake consensus mechanism rather than Proof of Work. Instead, SOL holders can participate in the network through staking.

SOL Staking

Staking SOL involves delegating your tokens to validators who process transactions and maintain the network. In return for supporting these validators, stakers receive rewards in the form of additional SOL tokens. The current annual staking yield for SOL typically ranges between 5-7%, though this can vary based on network conditions and the total amount staked.

To stake SOL, users can:

  1. Set up a Solana wallet that supports staking (like Phantom, Solflare, or Sollet)
  2. Purchase SOL from an exchange
  3. Transfer SOL to their wallet
  4. Choose a validator and delegate their tokens

Staking on Solana features a warm-up period of several epochs (approximately 2-3 days) before rewards begin accruing, and there is also a cool-down period when unstaking.

What is Solana (SOL) Used For?

SOL serves multiple purposes within the Solana ecosystem:

Primary Uses of SOL:
  • Transaction Fees: SOL is used to pay for transaction fees when executing operations on the network.
  • Staking: Token holders can stake SOL to help secure the network and earn rewards.
  • Governance: SOL tokens grant voting power for participating in network governance decisions.
  • DeFi Applications: SOL can be used in various decentralized finance protocols built on Solana, including lending, borrowing, and yield farming.
  • NFT Marketplaces: The Solana network hosts numerous NFT platforms where SOL is the primary currency for purchases.
  • Web3 Applications: SOL powers a growing ecosystem of Web3 applications, games, and social platforms.

Solana (SOL) Token Distribution

Solana (SOL) had a somewhat complex distribution process that occurred through several funding rounds and a public token sale:

Initial Distribution of SOL Tokens:
  • 16.23% went to the founding team
  • 12.92% to a community reserve
  • 10.46% to the Solana Foundation
  • 12.63% to private investors
  • 37.61% distributed through validator rewards (over time)
  • 10.15% sold in public sales

The initial circulating supply was relatively small, with the majority of tokens subject to vesting periods. The total supply of SOL is capped at 489 million tokens, with new tokens entering circulation primarily through staking rewards.

Additional Key Information About Solana (SOL)

Solana (SOL) has several distinctive characteristics that have contributed to its rapid growth in the cryptocurrency market:

Solana NFT Ecosystem

Solana has become a major player in the NFT space, offering considerably lower fees compared to Ethereum. Popular Solana NFT marketplaces include Magic Eden, Solanart, and Metaplex.

Solana DeFi Ecosystem

The platform hosts numerous DeFi protocols, including Serum (a decentralized exchange), Raydium (an automated market maker), and Solend (a lending protocol).

Network Challenges

While Solana offers impressive speeds and low costs, it has experienced several network outages since its launch. The development team has been actively working to improve network stability and resilience.

Trading Solana (SOL)

Anyone can trade Solana (SOL) on virtually any major cryptocurrency exchange. For those looking to automate their trading strategies, platforms like Cryptohopper offer automated trading bots that can be configured to trade SOL efficiently based on market conditions and technical indicators. These automated solutions allow traders to execute strategies 24/7 without constant manual monitoring.

Environmental Impact

As a Proof of Stake blockchain, Solana (SOL) is significantly more energy-efficient than Proof of Work alternatives like Bitcoin, consuming a fraction of the electricity while processing many times more transactions.

With its combination of high performance, low costs, and growing ecosystem, Solana (SOL) continues to attract developers and users, cementing its position as one of the leading smart contract platforms in the cryptocurrency space.

Latest SOL to USD price calculator

Below are the most popular denominations to convert to USD and back into SOL

SOL US Dollar
0.01SOL 1.77USD
0.1SOL 17.66USD
1SOL 176.55USD
2SOL 353.10USD
3SOL 529.65USD
5SOL 882.75USD
10SOL 1,765.50USD
25SOL 4,413.75USD
50SOL 8,827.50USD
100SOL 17,655.00USD
250SOL 44,137.50USD
500SOL 88,275.00USD
1000SOL 176,550.00USD
10000SOL 1,765,500.00USD
50000SOL 8,827,500.00USD
100000SOL 17,655,000.00USD
US Dollar SOL
0.01 USD 0.00005664SOL
0.1 USD 0.00056641SOL
1 USD 0.00566412SOL
2 USD 0.01132824SOL
3 USD 0.01699235SOL
5 USD 0.02832059SOL
10 USD 0.05664118SOL
25 USD 0.14160295SOL
50 USD 0.28320589SOL
100 USD 0.56641178SOL
250 USD 1.41602945SOL
500 USD 2.83205891SOL
1000 USD 5.66411781SOL
10000 USD 56.64117814SOL
50000 USD 283.20589068SOL
100000 USD 566.41178137SOL

Start trading with Cryptohopper for free!

Free to use – no credit card required

©2017 - 2025    Copyright by Cryptohopper™ - All rights reserved.