Solana Reaches Market Capitalization of $71.33 Billion (SOL)

Solana (SOL) traded 6.4% higher against the US dollar during the one day period ending at 20:00 PM E.T. on August 23rd. One Solana coin can now be purchased for about $153.09 or 0.00239149 BTC on major exchanges. Solana has a total market cap of $71.33 billion and $2.57 billion worth of Solana was traded on exchanges in the last 24 hours. During the last seven days, Solana has traded up 10.5% against the US dollar.

Here is how similar cryptocurrencies have performed during the last 24 hours:

• 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 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Solana

Solana uses the hashing algorithm. Its launch date was March 16th, 2020. Solana’s total supply is 582,883,914 coins and its circulating supply is 465,928,351 coins. The official website for Solana is solana.com. The Reddit community for Solana is https://reddit.com/r/solana and the currency’s Github account can be viewed here. Solana’s official Twitter account is @solana and its Facebook page is accessible here. Solana’s official message board 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 possible to purchase alternative cryptocurrencies such as Solana directly using U.S. dollars. Investors seeking to acquire Solana should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Solana using one of the exchanges listed above.

SOL/USD price chart by TradingView