Home Latest Cryptocurrency News Solana becomes fifth biggest crypto by market cap: here’s where to buy

Solana becomes fifth biggest crypto by market cap: here’s where to buy

By - min read
08 November 2021

Against the backdrop of constantly increasing transaction fees on Ethereum’s blockchain, tokens like Solana, which are associated with layer 1 blockchains, never fail to attract the market’s attention. Here’s where to buy the fifth biggest crypto.

Top places to buy SOL now

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What is SOL?

Solana is a highly functional open source project that provides decentralized finance solutions based on blockchain technology’s permissionless nature. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Should I buy SOL today?

The concept of PoH allows for greater scalability of the protocol, which in turn boosts usability. Solana has many advantages, such as incredibly short processing times the blockchain offers. It may be a good time to buy as its price has been declining recently.

SOL price prediction

Solana is facing a temporary slowdown, but temporary is the keyword here. According to exchange platform Changelly, Solana will go up to as much as $800 by 2025. The price prediction for 2022 is $400. For 2023, it is $500. SOL is expected to increase by another $100 by 2024.