The Solana price is bouncing back after dropping sharply amid this week’s cryptocurrency sell-off. SOL is trading at $45.65, which...
Solana
What is Solana?
Solana is a decentralized blockchain platform regarded as a major competitor to Ethereum as a host for decentralized applications. Solana was created in 2020 by developers at Solana Labs in San Francisco and is managed by the Solana Foundation based in Geneva, Switzerland.
Solana has emerged as a hub for decentralized finance (DeFi) apps rivaling Ethereum, which has seen the valuation Skyrocket despite being less than two years old. One of the main advantages associated with Solana is its low transaction (gas) fees compared to Ethereum’s.
What is the network?
Solana’s native cryptocurrency goes by the same name and trades under the ticker symbol SOL. Solana’s network operates on a proof of stake (PoS) model, which is more energy-efficient than the proof of work (PoW) model pioneered by Bitcoin, which consumes a lot of energy.
Transactions on the Solana network cost about 0.000005 SOL, or $0.001, while transactions on Ethereum’s blockchain can be in thousands of dollars, especially when the network is at its busiest.
How to trade Solana
There are multiple ways to trade Solana, but the two most common methods are via a cryptocurrency exchange. You can buy the SOL crypto using dollars or other fiat currencies.
The other popular way to trade Solana is to trade its derivatives via an FX or CFD broker that offers SOL as a quote traded against the US dollar.
Solana Latest news
The Solana price prediction in the near term does not provide much hope for optimism. This is despite the recent...
The Solana price recovery rally continued today as demand for the token continued to rise. SOL is trading at $36.30,...
The Solana crypto price prediction is for the price to continue the recovery move if the break of 37.37 is...
The Solana price continues to run higher, gaining +13% to $41.600. But the appearance of a bearish ‘hammer’ candle could...
The Solana price is relatively unchanged even after the positive news published on Wednesday. SOL is trading at $41.30, which...
Has the Solana price just been saved by a sudden burst of Bitcoin buying? The technicals are showing SOL may...
The Solana price recovery hangs in the balance at a major area of support. With SOL in danger of breaking...
The Solana price has bounced back after it dropped to $20 this week. The coin has risen by more than...
The Solana price failed to clear its recent downtrend. However, several supportive technicals suggest that next time around, SOL may...