Solana Trading Down 8.5% This Week (SOL)

Solana (SOL) traded 0.4% lower against the dollar during the 1-day period ending at 23:00 PM ET on April 17th. During the last seven days, Solana has traded 8.5% lower against the dollar. Solana has a market cap of $33.70 billion and $1.12 billion worth of Solana was traded on exchanges in the last 24 hours. One Solana coin can now be purchased for approximately $101.15 or 0.00254090 BTC on popular exchanges.

Here is how other cryptocurrencies have performed during the last 24 hours:

  • Binance USD (BUSD) traded 0% higher against the dollar and now trades at $1.00 or 0.00002515 BTC.
  • Polygon (MATIC) traded down 2.2% against the dollar and now trades at $1.35 or 0.00003387 BTC.
  • Crypto.com Coin (CRO) traded 5% higher against the dollar and now trades at $0.41 or 0.00001075 BTC.
  • Dai (DAI) traded up 0.1% against the dollar and now trades at $1.00 or 0.00002512 BTC.
  • Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
  • DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
  • DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
  • Chainlink (LINK) traded down 1.9% against the dollar and now trades at $13.80 or 0.00034672 BTC.
  • FTX Token (FTT) traded up 4% against the dollar and now trades at $43.42 or 0.00109061 BTC.
  • THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 BTC.

Solana Profile

SOL is a PoH coin that uses the ETH Token hashing algorithm. Its launch date was October 6th, 2017. Solana’s total supply is 511,616,946 coins and its circulating supply is 333,118,568 coins. Solana’s official Twitter account is @solaplatform and its Facebook page is accessible here. The official message board for Solana is medium.com/solana-labs. The Reddit community for Solana is https://reddit.com/r/solana and the currency’s Github account can be viewed here. The official website for Solana is solana.com.

According to CryptoCompare, “Solana is a single-chain, delegated-Proof-of-Stake protocol, founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, focus on delivering scalability without sacrificing decentralization or security. Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks in where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps across the network, improving overall network efficiency. SOL is the native token of the Solana blockchain. Community tokens are held by the Swiss Foundation, which is run by an independent board. This token pool is used for bounties, incentives programs, marketing, and grants. Solana’s mission is to support all high-growth and high-frequency blockchain applications and to democratize the world’s financial systems. “

Buying and Selling Solana

It is usually not currently possible to buy alternative cryptocurrencies such as Solana directly using US dollars. Investors seeking to trade Solana should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Solana using one of the exchanges listed above.

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