Solana Crypto
| SOL Crypto | USD 183.29 11.46 6.67% |
Performance4 of 100
| Risk Of DevaluationLess than 34
|
Solana is trading at 183.29 as of the 26th of July 2024, a 6.67% up since the beginning of the trading day. Solana has about a 34 percent probability of financial distress in the next few years of operation and did not have a very good performance during the last 90 trading days. Cryptocurrency ratings for Solana are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 27th of April 2024 and ending today, the 26th of July 2024. Click here to learn more.
Solana is peer-to-peer digital currency powered by the Blockchain technology. More on Solana
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Solana is a digital token from an online market maker for peer-to-peer digital currency indicated as Cryptocurrency. Solana has been active in the last 3 months, and it is presently expressing a bullish sentiment. Cryptocurrencies such as Solana are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as Solana are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.
Solana Crypto Coin Highlights
Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. Solana's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding Solana or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
| Thematic Idea | USD Crypto Fund (View all Themes) |
| Business Concentration | USD Crypto Fund, Technology, Cryptocurrency, Blockchain (View all Sectors) |
Solana is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 26 exchanges in multiple currencies. Solana (SOL) is a high-performance blockchain that uses a delegated Proof-of-Stake (dPoS) consensus algorithm and a unique method of ordering transactions to improve speed and throughput. It can process over 50,000 transactions per second and has 400ms block times, allowing it to scale without relying on Layer-2 systems or sharding. The network has processed over 21 billion transactions and has a native cryptocurrency, the SOL utility token, which is used to pay for transaction fees and interact with smart contracts on the blockchain. It can also be staked to earn staking rewards. Decentralized applications being built on Solana may create additional use cases for the SOL token, such as being used as collateral for loans or earning interest when lent out. | |
| Coin Type | Solana |
| Proof Type | PoH |
| Industry | Financial and Insurance Activities |
| FINMA | Utility |
| FCA | Utility |
| Access | Permissioned |
| Collateralized Asset | No |
| Symbol | SOL |
| Rating | D+ |
| Name | SOL |
| Sponsored | false |
| Asset Whitepaper Url | View |
| Block Time | 0.637 |
| Is Trading | true |
| Algorithm Type | sha-256 |
| Asset Launch Date | 2020-03-31 |
| Full Name | Solana (SOL) |
| Asset Website Url | https://solana.com/ |
| Block Number | 258.89 Million |
| Platform Type | blockchain |
| Coin Name | Solana |
| Total Coins Mined | 580.89 Million |
Solana (SOL) is traded on CRYPTO Exchanges. Solana is peer-to-peer digital currency powered by the Blockchain technology. The coin currently falls under 'Large-Cap' category with a current market capitalization of 88.76 B. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Solana's market, we take the total number of its shares issued and multiply it by Solana's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities.
Solana's Exchanges and Markets
HitBTC Coinmate CoinJar Bitfinex Bitstamp Luno Unocoin itBit Coinbase Kraken NDAX Poloniex BitMart Binance Korbit DigiFinex Exmo Coinone Bitkub Gemini Bithumb BTCMarkets Bitso CoinEx LBank BigONETechnical Overview of Solana
Solana is the invention of Anatoly Yakovenko. It's a platform designed to address the shortcomings of more traditional and established blockchain platforms. The platform can efficiently perform about 50,000 transactions in a second. That's the most outstanding factor that makes the platform unique. Solana can seamlessly add multiple properties to its existing network in a fraction of a second. It has made a name for itself as Ethereum's competitor.
What Technology Does Solana Use?
Solana uses the native SPL protocol, a token standard that the blockchain adopts, closely similar to Ethereum's ERC20 on the Ethereum network. The tokens achieve two primary goals. The first is to pay fees when interacting with intelligent contractors or performing other activities on the platform. Secondly, the tickets make a user eligible to become a validator or leader within the network. When a user is a validator, they can oversee the smooth running of the environment.
What are Solana's Features?
Solana's high performance is because of the seven key features that add speed and efficiency. They also contribute to secure data storage and faster transaction processing. The features create a platform friendly to applications that involve many transaction activities. That explains why the network is home to NFTs, video games, and DeFi activity.
The seven proprietary features that boost Solana's speed are:
- Archives: The distributed ledger store
- Cloudbreak: The horizontally scaled accounts database
- Pipelining: The transaction processing unit for validation optimizations
- Gulf Stream: The Mempool-less transaction forwarding process
- Turbine: The communication protocol
- Tower BFT: Aims to reduce messaging overhead and latency
- Proof of History: Marks history of a hash, performing as an on-chain clock.
Solana has a fast, secure, and censorship-resistant protocol. It also offers a decentralized blockchain network, combining proof of history and stake. Its foundation is in the RUST programming language, providing a robust base for safeguarding transactions.
What Makes Solana Unique?
Proof of History is the central concept that sets Solana apart from the competition. The feature provides the highest throughput of any Layer-1 blockchain. Another feature of Solana, Sea level, is the world's first parallel smart contracts runtime. These two give Solana an edge, making it competitive in global businesses.
Solana gains value from its seven core features listed above. Their design and making are that they allow the network to outperform most other blockchain platforms, providing a scalable environment for global businesses to deploy crypto apps. Solana's native SOL cryptocurrency comes from its utility. Users can leverage SOL to secure the network through staking as delegators or validator nodes.
The choice is profitable for SOL holders as stakers get half the transaction fees and most of the emission of new tokens. As the Solana ecosystem grows and processes more transactions, the platform will become more valuable. The demand by stakers, users, and developers will continue to grow.
Solana Risk Profiles
| Mean Deviation | 17.86 | |||
| Semi Deviation | 2.73 | |||
| Standard Deviation | 72.24 | |||
| Variance | 5219.02 |
Solana Technical Analysis
When it comes to investing in cryptocurrency, such as Solana, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Solana, which is currently traded at 183.29, shows everything you need to know about Solana market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Solana, to determine its price movements. However, the Solana's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Solana's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Solana's future price trendTransformation |
The output start index for this execution was zero with a total number of output elements of sixty-one. Solana Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe Solana price patterns.
Solana Against Markets
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Our tools can tell you how much better you can do entering a position in Solana without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.Did you try this?
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How to invest in Solana
You need to understand the risk of getting into digital currencies such as SOL before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Solana in four ways:Buy SOL through an exchange
Get yourself a crypto wallet before embarking on your Solana journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase Solana. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.Purchase fractions of Solana through an exchange
You don't have to buy a full token when starting out since SOL is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.Trade Solana through a broker
If you don't want to store your Solana Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.Invest in SOL through an exchange-traded fund (ETF)
You can also invest in SOL through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.Investing Ideas
In addition to having Solana in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Thematic Opportunities
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Additional Information and Resources on Investing in Solana Crypto Coin
When determining whether Solana offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Solana's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Solana Crypto.Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solana. Also, note that the market value of any cryptocurrency could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.