Solana(SOL) Price

$173.63 +8.32%

Price of Solana(SOL) Today

The live price of Solana (SOL) is $173.63.The current market capitalization stands at $93.08B, with a 24-hour trading volume of $16.48B.Solana has experienced +8.32% in the last 24 hours and has a circulating supply of approximately 536.25M.These figures are updated in real-time to provide the most accurate market data.

Solana(SOL) Profile

Price Range (24h)

24h Low: $160.04 24h High: $174.52

• ATH: $293.31
• Price Change (1h): -0.20%
• Price Change (24h): +8.32%
• Price Change (7d): +12.41%
• Market Cap: $93.08B
• 24h Vol: $16.48B
• Circulating Supply: 536.25M
• Total Supply: 605.32M

About

What Is Solana?

Solana is a high-performance, open-source blockchain designed to support scalable and decentralized applications. Launched in 2020, Solana aims to solve the blockchain trilemma of scalability, security, and decentralization, without compromising on any of the three. Its native cryptocurrency, SOL, is used to pay for transaction fees and secure the network through staking.

Solana stands out for its exceptionally fast transaction speeds and ultra-low fees, making it a popular platform for DeFi, NFTs, and next-gen Web3 applications. Solana (SOL) can be bought on specialized exchanges and SOL can be traded for using other cryptocurrencies.

How Solana Works

Solana combines a unique consensus mechanism called Proof of History (PoH) with Proof of Stake (PoS) to achieve high throughput and low latency. PoH provides a cryptographic clock that timestamps transactions, drastically improving the efficiency of block validation.

This architecture enables Solana to process up to 65,000 transactions per second (TPS) with finality times under one second, without relying on Layer 2 solutions. The result is a blockchain that feels as fast and smooth as Web2, while remaining decentralized.

Who Created Solana?

Solana was founded by Anatoly Yakovenko, a former engineer at Qualcomm, who published the Solana whitepaper in 2017. The project officially launched in 2020 through the Solana Foundation, a nonprofit based in Switzerland. Its core team includes developers and engineers with backgrounds in systems programming, hardware optimization, and distributed computing.

Yakovenko’s vision was to create a blockchain that could support global-scale applications, without the bottlenecks and costs found in earlier-generation blockchains like Ethereum.

What Makes Solana Unique

One of Solana's key innovations is its use of Proof of History, which orders transactions before they’re processed by the network. This drastically reduces the overhead of consensus and enables validators to maximize throughput. Additionally, Solana’s monolithic design where all components (execution, consensus, and settlement) occur on a single chain, contributes to its speed and simplicity.

Its ultra-low fees (often less than $0.001 per transaction) and sub-second finality have attracted a thriving ecosystem of developers, users, and builders.

Use Cases of Solana

Solana is widely used in various areas of Web3. It powers decentralized finance (DeFi) platforms like Jupiter, Meteora, and MarginFi which offer users fast, affordable trading, lending, and yield farming. It’s also home to NFT marketplaces such as Magic Eden and Tensor, where creators and collectors benefit from low fees and near-instant transactions.

The network supports a growing number of Web3-native apps in areas like gaming (e.g., Star Atlas), music (Audius), and decentralized social media (Drip, Dialect, Farcaster).

Solana’s Speed and Fees

Solana is capable of handling thousands of transactions per second with average transaction costs of just fractions of a cent. This performance is ideal for use cases that demand high-frequency, low-latency interaction including real-time gaming, high-volume trading, and social messaging.

Solana(SOL) Price Movements ($)

Period	Amount Change	Change (%)
Today	+$13.33	+8.32%
7 Days	+$19.16	+12.41%
30 Days	+$15.87	+10.06%

Solana(SOL) Conversion Rate

1 SOL to USD
$173.63

FAQ

What makes Solana different from Ethereum?

While both Solana and Ethereum support smart contracts and dApps, Solana emphasizes speed and affordability. Ethereum, especially before its scaling upgrades, can suffer from high gas fees and slower throughput. Solana uses a unique consensus combination of Proof of History (PoH) and Proof of Stake (PoS) to achieve high-speed processing at low cost. However, Ethereum has a longer track record and larger developer base, while Solana prioritizes high-performance use cases like gaming and social apps.

What is SOL used for?

SOL is the native cryptocurrency of the Solana network. It is used for various activities such as paying transaction fees on the network, staking and securing the blockchain via validators, and participating in future governance proposals. SOL is also widely used in Solana-based DeFi platforms, NFT marketplaces, and payment apps like Solana Pay.

How fast and cheap is Solana?

Solana can handle up to 65,000 transactions per second, with real-world averages typically in the thousands. Transaction costs are usually less than $0.001, making it one of the most cost-efficient blockchains available. Its speed and affordability make it ideal for high-frequency trading, gaming, and real-time apps.

Where can I buy and store SOL?

You can buy Solana directly on Phemex, and we’ll securely hold it on your behalf as a custodial exchange. You can also use other cryptocurrency like USDT to trade SOL on the Phemex spot market. After acquiring Solana, it will be held in your Phemex spot wallet which boasts meticulous security mechanisms.

Is Solana decentralized and secure?

Solana operates a decentralized network of over 1,000 validators worldwide. Its consensus mechanism combines PoH and PoS to validate transactions efficiently. While it has experienced network outages in the past due to congestion or bugs, Solana’s team continues to improve its infrastructure and reliability. It is considered secure for most use cases, but users should always follow best practices like using trusted wallets and avoiding phishing scams.