Solana Trading Down 13.6% Over Last Week (SOL)

Solana (SOL) traded 6.4% higher against the dollar during the one day period ending at 15:00 PM E.T. on May 1st. Solana has a market cap of $58.22 billion and approximately $3.84 billion worth of Solana was traded on exchanges in the last 24 hours. One Solana coin can now be purchased for about $130.19 or 0.00227790 BTC on exchanges. In the last seven days, Solana has traded 13.6% lower against the dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• KILT Protocol (KILT) traded up 0.1% against the dollar and now trades at $0.28 or 0.00000495 BTC.
• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• BitcoinBR (BTCBR) traded 48.5% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 BTC.
• Belrium (BEL) traded flat against the dollar and now trades at $2.51 or 0.00009565 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.

Solana Coin Profile

Solana uses the hashing algorithm. Its launch date was March 16th, 2020. Solana’s total supply is 575,074,258 coins and its circulating supply is 447,204,341 coins. Solana’s official message board is solana.com/news. Solana’s official Twitter account is @solana and its Facebook page is accessible here. 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 (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.”

Buying and Selling Solana

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

SOL/USD price chart by TradingView