Solana Price Today

The current real-time Solana price is $197.04 . SOL has grew by 8.09% in the last day and decreased by 13.02% in the last seven days. It’s important to note that the current Solana market capitalization is $94,430,591,342. The maximum supply is tokens, with a circulating supply of 479,247,380.77. SOL is ranked #6 in terms of market cap.

Solana In A Nutshell

Solana (SOL) is a layer-one cryptocurrency project. It is a popular blockchain network and ecosystem due to its fast transaction settlement, low fees, and high throughput. Solana Labs founders Anatoly Yakovenko and Raj Gokal launched it in 2020. It has taken the crypto world by storm, becoming the fourth-largest cryptocurrency. 

Solana provides similar functionality to Ethereum, hosting decentralized applications on its network. However, transactions on Solana are much faster and less costly than those on Ethereum. As a result of these improvements, Solana has become developers' favorite, resulting in almost $10 billion being locked in its ecosystem out of its maximum supply of .

How Solana Works Explained

Solana aims to improve upon networks like Ethereum by offering a more scalable solution to better handle the growing number of crypto enthusiasts in the market. In addition to implementing a version of the common proof-of-stake (PoS) consensus mechanism like ETH, The project utilizes a unique technology called proof-of-history (PoH). In practice, PoH technology enables participants in the decentralized network to keep time without all computers communicating, improving efficiency. 

However, the network experiences infrequent but repeated outages, leading to periods of network downtime and calls for improved reliability. Despite this, it remains ranked #6 in the market cap and is popular within the community. Read more about how Solana works.

Solana Price History

Solana was initially released as an ICO, which lasted from 2018 until March 2020. SOL was available to investors for just $0.22, meaning early investors could profit by as much as 800,000% based on current prices. 

Although SOL has impressive returns for many investors, the asset has been highly volatile since launching. Following the conclusion of SOL’s presale, the asset quickly rose to around $1.75. However, in 2021, SOL went parabolic, climbing from a few dollars to an all-time high of $249.98.

Once momentum from the bull market wore off, the price of SOL plunged, hitting a low of $28.11 in 2022 and trading around $25 for most of 2023. However, SOL rebounded in December 2023, hitting $112.56 and growing in early 2024, reaching $202.87 by April. Today, the asset remains volatile and trades at $197.04 .

SOL Token Supply

Solana has a total supply of around million tokens, with 479,247,380.77 circulating. As Solana is an inflationary cryptocurrency, more tokens will be continually added to circulation, and there is no fixed maximum supply. 

Solana Inflation Metrics

Solana is an inflationary cryptocurrency, meaning new tokens are consistently added to the total SOL supply. While some investors shy away from inflationary mechanics in crypto, the Solana development has taken this approach to ensure that validators can always be paid for their efforts while non-stakers effectively transfer value to delegators.

Initially, Solana's inflation rate was 8%, but this figure decreases by 15% annually until the network reaches a final rate of 1.5%. Currently, the Solana inflation rate is 5.145%. It's important to understand that instead of a typical 365-day year, Solana's inflation schedule is tied to epoch years, which can vary from roughly 450 to 630 days. 

Where You Can Purchase SOL

SOL is one of the most popular cryptocurrencies worldwide. With over 1.8 million active addresses on the network, many investors have chosen to buy Solana. 

The simplest way to purchase SOL is to create and verify an account with an exchange like Bybit, deposit funds to the platform/use an instant buy tool, and purchase your desired amount of SOL. Alternatively, you can purchase Solana from an Over-The-Counter (OTC) desk or swap another crypto for SOL using a decentralized exchange (DEX).