Solana Price
A short intro to Solana
Solana is one of the most talked about cryptos on the market. In just a few short years, rising Solana value has put it among the top 10 cryptos by market capitalization. What makes it special?
Solana is a prime example of what's often dubbed as “Ethereum killer”. Ethereum has built an entire platform that hosts a wide variety of decentralized apps (dApps), such as crypto exchanges, decentralized finance tools and even other crypto tokens. Solana aims to replicate this, but its own platform features a number of improvements that make it faster, cheaper to use and more efficient.
Solana already has gathered an active community of users and developers, which, in turn, drives the price of Solana higher. Let's look at this next.
What moves Solana price today
To succeed, any crypto project needs active users – especially those that build entire platforms. Solana has an impressive and growing list of dApps running on its network, including, but not limited to, games, NFT marketplaces, and decentralized exchanges.
This means that Solana price today also depends on the success of its dApps. For example, increased popularity of Solana NFT marketplaces could also drive up Solana worth.
The opposite is also true: if Solana dApps or blockchain-based solutions in general aren't very popular at the moment, the current Solana price would likely reflect that.
Using our SOL price tracker
We've built this Solana price tracker to be simple and intuitive, but there are some features you don't want to miss.
It is always updated with the live Solana price;
Solana price history is available from the dropdown menus;
Click anywhere on this Solana price chart to see the exact price at that time;
In addition to SOL price in USD, it also supports a wide range of local currencies;
Other powerful crypto tools are a few clicks away – try our SOL calculator or a dedicated SOL to USD converter!
Possible uses of Solana
Given that Solana price has seen some notable moves, it is a popular investment – people buy it to HODL it, that is, wait until SOL price increases. If this sounds like a good idea, you can buy Solana right here at Paybis in just a few clicks!
Solana is also used extensively in its dApps. For example, there are NFT projects that sell digital art and accept payments in SOL.
You can also stake Solana, that is, deposit your tokens to earn additional passive income.
As the platform develops, more uses may come up in the future – stay tuned!
Solana price long term prospects
The crypto market is renowned for its volatility, and SOL price is no exception. The Solana price now can be dramatically different from where it was just a week ago. How do you make sense of these movements?
One possible solution is to consider a long-term approach. Look at Solana's fundamentals, such as its technology, available dApps, and user community. If these look solid to you, the current Solana price may not be the most important factor – its future prospects are.
As always, doing your own research is highly encouraged.
