Solana (SOL) Trading Up 4.4% This Week

Solana (SOL) traded 2.4% higher against the dollar during the one day period ending at 17:00 PM ET on May 4th. Solana has a total market cap of $65.86 billion and approximately $3.03 billion worth of Solana was traded on exchanges in the last day. In the last week, Solana has traded 4.4% higher against the dollar. One Solana coin can now be purchased for $147.22 or 0.00230303 BTC on cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded up 0% against the dollar and now trades at $0.30 or 0.00000467 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 BTC.
• Belrium (BEL) traded flat against the dollar and now trades at $2.51 or 0.00009565 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 0.4% against the dollar and now trades at $0.0101 or 0.00000016 BTC.

Solana Profile

SOL uses the hashing algorithm. It launched on March 16th, 2020. Solana’s total supply is 575,228,977 coins and its circulating supply is 447,325,320 coins. Solana’s official message board is solana.com/news. The Reddit community for Solana is https://reddit.com/r/solana and the currency’s Github account can be viewed here. The official website for Solana is solana.com. Solana’s official Twitter account is @solana and its Facebook page is accessible here.

According to CryptoCompare, “Solana (SOL) is a high-performance blockchain that uses a delegated Proof-of-Stake (dPoS) consensus algorithm and a unique method of ordering transactions to improve speed and throughput. It can process over 50,000 transactions per second and has 400ms block times, allowing it to scale without relying on Layer-2 systems or sharding. The network has processed over 21 billion transactions and has a native cryptocurrency, the SOL utility token, which is used to pay for transaction fees and interact with smart contracts on the blockchain. It can also be staked to earn staking rewards. Decentralized applications being built on Solana may create additional use cases for the SOL token, such as being used as collateral for loans or earning interest when lent out.”

Buying and Selling Solana

It is usually not currently possible to buy alternative cryptocurrencies such as Solana directly using US dollars. Investors seeking to trade Solana should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Solana using one of the exchanges listed above.

SOL/USD price chart by TradingView