Solana (SOL) surged by over 21% in the past 24 hours, capturing the 11th position on the crypto market cap chart. According to CoinMarketCap, SOL is trading at $62.1 at press time.
Market Performance
Solana (SOL) has been a top-performing crypto in the past week. It surged to a new all-time high of $62.28, a 33.8% increase in the last 24 hours.
Blockchain Infrastructure
Solana is the native token of the Solana blockchain, an open-source project that implements a new, high-performance, permissionless blockchain maintained by the Geneva-based Solana Foundation. The Solana protocol was created by Solana Labs, a company backed by investors such as Slow Ventures, Multicoin Capital, 500 Startups, Foundation Capital, and Abstract Ventures.
Transaction Capacity
Solana aims to process around 710,000 transactions per second on a standard gigabit network. This would happen if transactions are, on average, no more than 176 bytes. However, Solana currently processes around 50,000 transactions per second.
Market Value
Yesterday, the