$SOL
Solana (SOL) is a high-performance Layer 1 blockchain known for its fast transaction speeds and low fees. It supports smart contracts and decentralized applications (dApps), making it popular for DeFi platforms and NFT marketplaces. Solana uses a unique hybrid consensus mechanism combining Proof-of-History (PoH) and Proof-of-Stake (PoS) to improve scalability and efficiency.
The native token SOL is used to pay transaction fees and for staking to secure the network. Solana was launched in 2020 by the Solana Foundation and was created to address scalability issues faced by other blockchains like Ethereum.
As of May 2025, SOL trades around $144.80 with a market cap near $75 billion and a 24-hour trading volume of about $2.2 billion. It reached an all-time high of about $293 earlier in 2025364.
SOL tokens are available on major exchanges like Binance and Coinbase, with active trading pairs such as SOL/USDT. The Solana ecosystem continues to grow despite some network outages, with ongoing improvements and new projects being developed.