$SOL

is the original digital code for the Solana network, a high-performance blockchain platform known for its speed and efficiency. Solana is distinguished by its ability to process thousands of transactions per second, with extremely low fees of less than $0.0025, making it a preferred choice for decentralized finance (DeFi) applications and non-fungible tokens (NFTs).

Solana was launched in 2020 by Anatoly Yakovenko and Raj Gokal, and it uses a proof-of-stake (PoS) mechanism enhanced by a proof-of-history (PoH) mechanism to accelerate transaction verification.

Currently, the price of SOL is around $145.3, with a market capitalization of approximately $75.3 billion, placing it among the top 10 cryptocurrencies by market cap.

SOL is used to pay transaction fees and secure the network through staking, playing a crucial role in the growing Solana ecosystem.

Despite some technical challenges and past outages, Solana continues to attract the interest of investors and developers, especially with the backing of major financial institutions and increasing expectations for the launch of exchange-traded funds (ETFs) linked to it in the near future.