Solana has taken the #7 spot from DOGE after a 22% rally on the day ushered in a new all-time high
Solana has continued its excellent run of form with yet another double-digit daily increase. A rally that began yesterday evening has taken SOL to new highs, with an all-time high of $145.97 registered earlier this morning. Solana’s momentum presently appears to be inexhaustible, with the SOL token repeatedly surging to previously unseen levels.
Read on to find out more about Solana, as well as learning the best place to buy SOL today.
How & where to buy Solana in the UK and elsewhere
Solana can be purchased from pretty much any cryptocurrency broker or exchanged, which makes choosing the right place to buy a very difficult task. Luckily for you, we’ve shortlisted two of the very best platforms to make that choice easier. Both platforms are fully regulated, so you can be sure your Solana investment is in the safest of hands.
Whenever possible, avoid using unlicensed brokers and decentralised exchanges. These sites are unregulated, making them less safe and secure.
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
What is Solana?
Solana is a super-scalable smart contracts platform that aims to optimise decentralised applications and decentralised finance (DeFi) using a next-gen blockchain. Solana takes the positives of the original smart contracts blockchain, Ethereum, and improves upon virtually all of the negatives, which has led to an increase in popularity as Ethereum increasingly faces bottlenecks.
Fast transactions, low fees, and advanced capabilities are the name of the game here. Solana is thriving as DeFi and dApps on Ethereum, become increasingly untenable due to high fees and a slow, clogged network. Solana’s network effect grows day by day as new users and Ethereum defectors join the fray, which could in theory lead to further exponential growth.
Should I buy SOL today?
Solana continues to go from strength to strength, registering new highs seemingly non-stop. The current momentum has led to an almost vertical price move, but the pace of SOL’s pump isn’t yet showing signs of a slowdown.
Solana 7-day chart. Source: CoinMarketCap
Solana’s use case is becoming increasingly pertinent too, as Ethereum continues to struggle with network stress due to the gradual rollout of Layer 2 solutions and the endlessly-delayed Ethereum 2.0.