The Solana blockchain is considered an efficient, secure, fast, censorship-resistant, and highly automated system that supports global adoption. Decentralizing the network by providing computing resources to validate transactions or storing redundant ledge data is the mission of the validator.
Currently, Solana (SOL) price is $229.592 with a market capitalization of $64,036,874,368, putting it in a commendable position of the global cryptocurrency rankings.
History of Solana
Anatoly Yakovenko, the founder of Solana, published a whitepaper draft detailing a new timekeeping method for distributed systems dubbed Proof of History (PoH) in late 2017. The inability to reach consensus on transaction order is one of the limitations of bitcoin and ethereum blockchains, In Anatoly’s opinion, his new methodology could automate the transaction ordering process for blockchains. This was a major component of enabling crypto networks to grow beyond their capabilities at the time.
Solana (SOL) price prediction
Currently, there is a level of resistance at $ 236.006, the next resistance will be $ 243.142, and a strong support level will be $ 217.376 and afterward $ 205.882.
If Solana (SOL) price fails to break through this resistance level, the price may retest the current support levels before further descending to the next support level of $ 217.376. A break of this level may lead Bitcoin to move down further to $ 205.882.
It’s apparent that Solana (SOL) price is likely to move upwards from its current level, with bullish indicators showing. The Solana price will likely move up towards $ 205.882 in the near future.
Solana Recent updates
- MonkeyBall, a gaming platform by Solana Game Technology, Raises $ 3M
Solana-based monkey-themed soccer game Monkey Ball is a mashup of FIFA Street and Final Fantasy. It has been confirmed that MonkeyBall has closed its recent funding round in which it managed to raise over $3 million from a wide range of venture and angel investors.
- Several factors point to Solana surpassing Cardano’s market capitalization:
Cardano sits on a weak support level, whereas Solana is poised to move up in the coming days. Based on available data, SOL might need just $1 billion of total market value to get ahead of ADA when it comes to market cap.