What is the Solana price (USD) today?

Solana price (USD) today

To check the Solana price (USD) today you can check the Solana dedicated page on Bitso’s website. In May 2023, this coin was ranked in the top 10 coins driving the most user interest on the platform, so you might want to think twice before overlooking it. 

Even if the Solana price (USD) today isn’t the cheapest, the SOL token is very popular and a great option due to having its own decentralized platform to support transactions.

On specialized media, the Solana network – where the token is based – is often compared to other networks and tends to be listed as the best in terms of speed, processing around 2,000 transactions a second.

It also stands out from others like Ethereum and Cardano because, although both use smart contracts to operate, Solana has larger capacity, security levels and its services tend to be way less expensive. 

When was Solana created?

The development of the Solana platform and the native token with the same name were made available for the general public in 2020. These and other creations for the same network were signed by the company Solana Labs, founded in 2018.

However, as said by the creators behind the blockchain, even if the company closes its doors, the technology will continue to exist, making the Solana price (USD) today even more attractive.

As told in the history-dedicated page in Solana’s documentation, the name “solana” was inspired by a beach town in the north of San Diego, where the developers of this technology used to work together for Qualcomm.

Currently, the platform where the SOL token is based has its code openly documented, looking to inspire other crypto-developers. Their documentation website also contains several pieces of information for those who want to learn more about developing blockchain-based technologies with Solana

As with any other centralized or decentralized currency, if you are not ready to invest in an entire unit, you can buy a fraction of it, which are, in this case, called lamports. A Lamport is worth 0.000000001 SOL, hence an opportunity for you to seize the Solana price (USD) today without spending all of your savings, in case that is a concern for you.

This name was picked in homage to the greatest technical inspiration for the company and their projects, the computer scientist and mathematician Leslie Lamport, born on February 7 of 1941.

Considering the Solana price (USD) today, what were its all time highs and lows?

The lowest price a unit of SOL has cost was $0.5052 and at the other end of the scale, it’s all time high was $260.06. The Solana price (USD) today is very close to that peak as it has happened very recently, at the beginning of May 2023.

When comparing its lowest price to its highest, we can see that today it has grown in value 520 times. Therefore, we are talking about a coin that is not necessarily the oldest in the market, but definitely one that caught the investors interest and attention as cryptocurrencies values are highly dictated by offer and demand. 

What is Solana’s price prediction?

The Solana’s token latest popularization and even the  Solana price (USD) today easily translate the idea that its green days are nowhere near to ending. In fact, you can even find a few websites which bet that in 2030 its price per unit will stand at about 400 dollars — almost twice that of its all time high until now. 

However, it is important to highlight that cryptocurrencies’ price predictions are, in any scenario, just theories considering the information specialists and users have from the market today.

Therefore, if any unforeseen events take place, such as the case of the global health situation in 2020 or even an upcoming launch in the Solana network that goes terribly wrong, its price could drop considerably. So don’t rely solely on predictions to make the decision of buying this coin today.

Some other very important factors that can affect the Solana price (USD) today are the offer of units, the users’ demands, the apparition of competitors and investors sentiment. The second one and the latter can be especially affected by what the media is saying about it.

Considering the Solana price (USD) today, is it worth buying?

If you are looking for a cryptocurrency to convert the financial assets you’ve got in centralized coins such as the Dollar or Peso, the Solana price (USD) today may be very attractive.

This is due to low transaction costs, making it more viable to use it for purchases, for example. The higher speed in which transactions using it are made is also a very relevant quality.

It is also fair to say that, during the so-called crypto winter, the Solana token was listed as one of the few to thrive in that unfavorable scenario.

This positive outcome is attributed to the innovative character of the blockchain technology in which it is based on. This is definitely something positive for crypto investors that want to minimize their risks when picking which coin to invest in next.

On the other hand, if you are thinking of buying it with the idea of making profit out of its valuation, some things should be considered, besides the Solana price (USD) today.

Although everything about this coin points to a bright future, you should be ready to face the possibility of its value descending further or taking a long time to increase again, especially because the Solana price (USD) today is very close to its all time high.

Overall it is highly recommended that you do your own study of the market, specialists’ opinions and the trends for the upcoming months to understand if the scenario seems favorable in your opinion or not.

Either way, you can count on Bitso to get the support you need to invest in this or any other cryptocurrencies.

Where can I buy the Solana Coin?

If you are happy with the Solana price (USD) today, you can buy this currency at Bitso. The exchange counts on its own application on App Store and Google Play, as well as its website, allowing you to navigate on it and negotiate through several mobile platforms. 

On Bitso’s platform you can buy a series of other digital coins in just a few minutes. So if the  Solana price (USD) today wasn’t what you expected, you can always take a look at other cryptocurrencies prices and evaluate new opportunities.