What is Solana?
Solana is a Blockchain platform that aims to provide fast, secure, and decentralized Blockchain applications. Its unique architecture allows it to process more than 50,000 transactions per second, making it one of the fastest Blockchain platforms in existence.
Solana aims to compete with traditional financial systems by enabling fast and inexpensive payments and applications.
Who Created Solana?
Solana was created by Anatoly Yakovenko, a former engineer at Qualcomm. Yakovenko founded Solana Labs in 2017 with the goal of creating a Blockchain platform that could achieve fast transaction speeds without sacrificing security or decentralization.
Why is Solana Pumping?
Solana has seen a surge in price due to several factors, including its fast transaction speeds, its low transaction fees, and the growing popularity of decentralized finance (DeFi) applications. Solana, a prominent player in the Cryptocurrency realm, takes pride in harbouring a development community that is unparalleled in terms of sheer volume and activity.
The bustling nature of this community augurs well for Solana’s future prospects, with the possibility of further expansion, protocol and dApp attraction, and an associated upswing in its total value locked in, all seemingly within reach.
Is Solana a Good Investment?
Solana (SOL), an intriguing Blockchain-based platform, has garnered significant interest from investors due to its exceptional capacity to foster decentralized applications. This cutting-edge platform, which ranks third in the Proof-of-Stake Coins sector, second in the Solana Network sector, and seventh in the Layer 1 sector, currently boasts a market capitalization in excess of $50 billion as of February 2023. So, yes it is a good investment.
Is Solana Safe?
Solana is a relatively safe Cryptocurrency to invest in. The platform is built on a secure Blockchain architecture and has implemented various security features to protect user funds. However, as with any Cryptocurrency, there is always a risk of market fluctuations, fraud, and hacking. It is essential to conduct proper research and use safe trading practices when investing in Solana.
Solana Price Prediction
Based on long-range prognostications, the Solana digital currency is anticipated to experience an upward trend. The valuation of SOL is projected to ascend to $2,300 by 2025, and $4,200 by 2030.
Solana Comparison
In this review, we will make a versus comparison of Solana with other leading Blockchain platforms.
Solana vs. Ethereum
Solana and Ethereum are both decentralized Blockchain platforms that support smart contracts and decentralized applications. However, Solana offers much faster transaction speeds and lower transaction fees than Ethereum. Additionally, Solana’s unique architecture allows it to scale easily, making it more suitable for high-performance applications.
Solana vs. Cardano
Solana and Cardano are both third-generation Blockchain platforms that aim to improve on the shortcomings of earlier Blockchain technologies. While Cardano is known for its academic approach to Blockchain development, Solana is known for its fast transaction speeds and ability to handle high-performance applications.
Solana vs. Avalanche
Solana and Avalanche are both high-performance Blockchain platforms that offer fast transaction speeds and low fees. However, Solana is more established and has a larger user base than Avalanche.
Solana How-to
Follow our step-by-step guide on how you can utilize Solana (SOL.) The key points are:
- Where Can I Buy Solana?
- Where to Buy Solana in the US?
- How to Buy Solana
- Withdraw your SOL
- How Many Solana Coin are There?
- Where to Stake Solana?
- How to Stake Solana on Coinbase
- When did Solana get listed on Coinbase?
- How to Buy NFTs on Solana?
- Why is Solana Cryptocurrency Surging?
Let’s get started!
Where Can I Buy Solana?
There are several exchanges where you can buy Solana, including Binance, and Bitget. These exchanges allow you to buy Solana with various Cryptocurrencies or fiat currencies.
Where to Buy Solana in US?
If you’re based in the United States, you can buy Solana on exchanges such as Coinbase, Binance US, and Kraken.
How to Buy Solana
Here’s a step-by-step guide:
1. Create an Account
First, you need to create an account on Bitget exchange. Go to the Bitget website and click on the “Register” button at the top of the page. Fill in your email address, password, and agree to the terms and conditions. You will receive a confirmation email that you need to click on to activate your account.
Coin-Labs has signed a business partner agreement with Bitget Exchange in 2021. Therefore, if you sign up for the Bitget Exchange through Coin-Labs, you can participate in several events with the highest commission level and bonuses of up to 4,163 USDT.
Before you can start trading on Bitget, you need to complete the KYC (Know Your Customer) verification process. This involves submitting a government-issued ID and a selfie for verification. Click on the “KYC” tab on the dashboard, and follow the instructions to complete the verification process.
2. Deposit Funds
Once your account is verified, you can deposit funds to your Bitget wallet. Click on the “Deposit” button and select the currency you want to deposit (e.g., USDT or BTC). Follow the instructions to transfer the funds to your Bitget wallet.
3. Buy Solana (SOL)
Once you have funds in your Bitget wallet, you can buy SOL. Go to the Bitget trading platform and select the SOL trading pair (e.g., SOL/USDT). Enter the amount of SOL you want to buy and review the order details. If everything looks good, click on the “Buy” button to complete the transaction.
Withdraw your SOL
After buying SOL on Bitget, you can withdraw your coins to an external wallet or hold them in your Bitget wallet. To withdraw your SOL, click on the “Withdraw” button and enter the amount of SOL you want to withdraw and the external wallet address. Follow the instructions to complete the withdrawal process.
How Many Solana Coin are There?
According to the Solana documentation, the current circular supply of Solana coins is 378.56 M SOL.
Where to Stake Solana?
Solana can be staked on various platforms, including but not limited to:
- Solana Beach
- Solflare
- Ledger Live
- Exodus Wallet
- Trust Wallet
- Coinbase
- Binance
How to Stake Solana on Coinbase?
To stake Solana on Coinbase, follow these steps:
- Create a Coinbase account if you don’t have one already.
- Verify your identity by providing the necessary documents.
- Purchase SOL tokens on Coinbase if you don’t have any already.
- Go to the Coinbase Earn section and complete the Solana tutorial to earn free SOL tokens.
- Once you have SOL tokens, go to the Staking section of the Coinbase app or website.
- Choose Solana from the list of supported Cryptocurrencies.
- Enter the amount of SOL you want to stake and confirm the transaction.
When did Solana get listed on Coinbase?
Solana was listed on Coinbase on July, 2021.
How to Buy NFTs on Solana?
To buy NFTs on Solana, you can follow these steps:
- First, make sure you have a Solana wallet and sufficient SOL tokens in it.
- Find a Solana-based NFT marketplace, such as Magic Eden or Digital Eyes.
- Browse through the available NFT collections and choose the one you want to buy.
- Make sure you have enough SOL tokens in your wallet to cover the cost of the NFT.
- Follow the instructions provided by the marketplace to complete the purchase.
Why is Solana Cryptocurrency Surging?
There are several reasons why Solana’s Cryptocurrency is surging, including its fast and scalable network, the increasing adoption of decentralized finance (DeFi) applications on Solana, and the recent partnerships and investments in the Solana ecosystem.
We Coin-Labs provides only objective information about Solana.
Therefore, we are not responsible for the investment decision in Solana and the resulting loss.
Solana Basics
Here are some factors that investors should consider before investing in Solana.
| Cryptocurrency Features | Solana (SOL) |
|---|---|
| Publisher or Developers | Anatoly Yakovenko |
| Headquarters (Registration Number) | USA |
| Symbol | SOL |
| Platform | Solana Network |
| Published Date (CMC Registration) | 2020-04-10 |
| Max Supply | No limit |
Reliability Score of Solana in 2023
These are indexes mesuring the investment reliability of Solana conducted by Coin-Labs.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 9.1 / 10.0 CAR |
| Communication Rate | 9.4 / 10.0 CR |
| Technology Transparency Rate | 8.8 / 10.0 TTR |
| Development Participation Rate | 9.1 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 9 Exchanges |
| Number of Available Pairs Worldwide | 449 Pairs |
| Market Cap of the Cryptocurrency | 10,618,405,091,480 KRW (Rank #10) |
The table above shows the result of investment suitability evaluation for Solana.
More descriptions about the rating items can be found here.
Solana Price
Here are the price and recent trading volume of Solana. (Data of 2023-03-30 13:23:24)
| Price Items | Price and Trading Volume of Solana |
|---|---|
| Solana Price | 27,565.850 KRW |
| Price Change 24h | 2.08% |
| Price Change 7d | -1.08% |
| Trading Volume 24h | 603,522,136,104 KRW |
| Trading Volume Change 24h | 29.23% |
Cryptocurrency Metadata
You can check the development status and social media information of Solana through the links in the table below.
| Metadata Source | URL |
|---|---|
| π Official Website | https://solana.com |
| π White Paper | https://solana.com/solana-whitepaper.pdf |
| π°οΈ Source Code (GitHub) | https://github.com/solana-labs |
| π¦ Twitter | https://twitter.com/solana |
| π€ Reddit | https://reddit.com/r/solana |
| πΊ Message Board | https://solana.com/news |
Where to Buy Solana
Here are the top ten world crypto exchanges where traders can buy Solana in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/SOL_BUSD |
| Coinbase | Listed | https://pro.coinbase.com/trade/SOL-USD |
| Kraken | Listed | https://trade.kraken.com/ko/charts/KRAKEN:SOL-USD |
| KuCoin | Listed | https://www.kucoin.com/trade/SOL-USDT |
| Bitfinex | Listed | https://trading.bitfinex.com/t/SOL:USD |
| OKX | Listed | https://www.okx.com/trade-spot/sol-usdt |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/sol_usdt |
| Bitstamp | Not listed | |
| Bybit | Listed | https://www.bybit.com/en-US/trade/spot/SOL/USDT |
| Gate.io | Listed | https://www.gate.io/trade/sol_usdt |
Frequently Asked Questions
What is the current price of Solana?
Solana price today is 27,565.850 KRW. Furthermore, the price of Solana has fluctuated by 2.08% from 24 hours ago, and by -1.08% from a week ago.
Where is Solana listed?
Currently, it is listed on a total of 9 among the world top 10 exchanges.
What is the market cap of Solana now?
Currently, Solana has a market cap of 10,618,405,091,480 KRW, which is ranking 10 among cryptocurrencies worldwide.
How much is the trade volume of Solana?
Currently, 385,201,444 SOL coins are circulating through 449 market pairs. As a result, in the last 24 hours, 603,522,136,104 KRW of SOL coins were traded in the market.
