Solana price is on course to retesting the all-time high set in October after last week’s unsuccessful attempt. While it...
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 upward momentum is continuing. The SOL token rose to an all-time high of $75.45 as demand rose....
Solana price has been on a decline since dropping from its all-time high in the past weekend. What will it take for the bulls to retest that level?
In this article, the focus will be on Solana price movements after ADA overtook SOL in the crypto market's ranking.
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The Solana price has bounced back after it dropped to $20 this week. The coin has risen by more than...
Solana price has been on a tear for the last few days. SOL crypto has emerged as one of the...
Although the Solana price has been consolidating following September’s all-time high, the long term uptrend says more gains are ahead....