Solana Achieves Market Capitalization of $64.80 Billion (SOL)

Solana (SOL) traded up 8.3% against the dollar during the 24-hour period ending at 0:00 AM ET on August 5th. Solana has a market capitalization of $64.80 billion and approximately $12.57 billion worth of Solana was traded on exchanges in the last day. One Solana coin can currently be bought for $139.18 or 0.00249864 BTC on cryptocurrency exchanges. During the last seven days, Solana has traded down 23.6% against the dollar.

Here’s how similar cryptocurrencies have performed during the last day:

• 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 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower 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.
• 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 0% higher against the dollar and now trades at $0.0119 or 0.00000021 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Solana

SOL uses the hashing algorithm. Its launch date was March 16th, 2020. Solana’s total supply is 581,651,736 coins and its circulating supply is 465,585,845 coins. 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. The official message board for Solana is solana.com/news.

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 Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Solana using one of the aforementioned exchanges.

SOL/USD price chart by TradingView