Solana (SOL) is a cryptocurrency that's currently valued at $171.82, with a 5.27% increase in the last 24 hours. Its market capitalization stands at $89.18 billion. Solana is designed to facilitate decentralized app (DApp) creation and improve scalability using a hybrid consensus model combining proof-of-history (PoH) and proof-of-stake (PoS).
*Key Statistics:*
- *Current Price*: $171.82
- *Market Capitalization*: $89.18 billion
- *24-hour Trading Volume*: $7.39 billion
- *Circulating Supply*: 519.01 million SOL
- *All-time High*: $294.33 (January 19, 2025)
*What Makes Solana Unique?*
- *Fast Transactions*: Solana has block times of 400 milliseconds, allowing for quick transactions.
- *Scalable*: Solana can handle thousands of transactions per second with low fees.
- *Decentralized*: The Solana network is validated by thousands of independent nodes, ensuring security and censorship resistance.
- *Energy Efficient*: Solana's proof-of-stake network minimizes its environmental impact ¹.
*Recent Developments:*
- *Partnerships*: Franklin Templeton extended its Franklin Onchain U.S. Government Money Fund to Solana.
- *Growing Ecosystem*: Solana's decentralized applications (DApps) generated over $162 million in revenue in April 2025, surpassing Ethereum's revenue by 566%.
- *Onchain Holiday*: A Solana-powered shopping event allowing users to spend stablecoins and memecoins on merchandise from various brands ¹.
