$SOL

Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018. Solana's total market cap was US$55 billion in January 2022. However, by the end of 2022, this had fallen to around $3 billion following the bankruptcy of FTX. Following the general rise of the cryptocurrency market in 2023, its market cap rose to $7 billion. Developers from across the ecosystem and beyond have been working hard at building the foundations for the next generation of blockchain projects. The infrastructure is here, and devs have a lot to get excited about when it comes to new tooling. The long wait is almost over! In early 2024, token extensions will bring new features to make token creation on Solana more flexible. Combined with future runtime upgrades, the Solana ecosystem is building an open and customizable token platform.