Bonk price has recoiled after having a spectacular start of the year. The Shiba Inu-inspired token has crashed to a...
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
Solana became one of the most impacted crypto projects following the collapse of FTX crypto exchange in early November. Today,...
The Solana price shows no signs of slowing down just yet, rallying to a new all-time high overnight. Bringing its...
Bonfida price has defied gravity in the past few days. FIDA jumped to a high of $0.870, which was the...
Solana’s price opened today’s trading session aggressively, and in the early hours, it reached price highs of $44.76. However, the...
Solana (SOL) has struggled in the past few days as investors focus on the upcoming platforms like Avalanche and Crypto.com...
The Solana Price-action will be dominated by several significant technical levels. Here we discuss several potential scenarios for SOL.
The Solana price (SOL/USD) has reversed the recent gains and lost 15% in the last few days, and SOL may...
Following a tumultuous week that saw the Solana ecosystem suffering multiple hacks and outages, its price continues to suffer in...
The Solana price continues to run higher, gaining +13% to $41.600. But the appearance of a bearish ‘hammer’ candle could...