Is Solana (SOL) old? Features and future prospects of the virtual currency Solana, and future outlook commentary

Comparison

Is the crypto asset Solana (SOL) old? We will explain the features, future potential, and future outlook in this article. Solana, which is handled by most virtual currency exchanges, is a coin that is attracting a lot of attention, but there are various rumors about it. I have summarized the future prospects of this coin in this article.

What is Solana (SOL)? Features and mechanism

Solana is a blockchain platform developed to provide a development environment for DApps (decentralized apps). It was invented by Russian Anatoly Yakovenko. Since then, it has become a very popular stock, and there are many transactions in the market. The symbol is written as SOL. It is attracting attention in Japan and is said to be one of the major coins. The project is going well and prices are rising.

SymbolSOL
Brith Date2017
DeveloperAnatoly Yakovenko
Market capitalization$45,014,477,306 (2024)
URLHome
X、TwitterHome

Fast processing speed and low transaction costs

Solana has excellent processing power for data such as web, NFT, and defi, and is characterized by extremely fast processing speed. Although delays may occur depending on transaction congestion, it is very stable. It is possible to process each transaction with a low fee of $0.00025, and the transaction cost is extremely low.

DApps (decentralized app) development platform

Solana is equipped with a smart contract function that can automatically execute contract details. DApps are systems that utilize blockchain technology and are extremely useful as development platforms. The most important feature is that it is a platform for DApps development.

About issuance limit

Unlike other virtual currencies such as Bitcoin and Ripple, Solana has no upper limit. When too many currencies circulate in the market, their scarcity decreases and many currencies collapse, but Solana has the problem of a decline in the value of its currency because there is no upper limit on its issuance. However, measures have been taken to reduce the inflation rate by a certain percentage every year.

interoperable

Interoperable with other blockchains. Solana has the great advantage of being interoperable with other blockchains. This allows tokens to be sent back and forth between chains. This is also the reason for investment. This is a token that we recommend when you start investing.

Get staking rewards

Solana uses PoS (Proof of Stake). In PoS, the validator of a transaction is determined by the amount of tokens held. Validators are given staking rewards as an incentive for validating and approving transactions. Users deposit Solana to exchanges, and exchanges use it to become validators. The acquired staking rewards will be distributed to users according to the amount deposited.

Future outlook and prospects

This time, I will explain the future prospects and outlook. Some investors are predicting that this currency will plummet in the future, but what is the reality? Consider purchasing if there is a new investment opportunity.

Trends in market capitalization

Let’s take a look at the chart trends. Solana had been declining, but it rose significantly in 2021, and has been on an uptrend since 2022. As you can see, it is still on an upward trend and is expected to continue rising for some time to come.

Source : https://coinmarketcap.com/

Increase in DApps

Solana is already being used by many engineers as a DApps platform. It is expected that the number of DApps developed and operated on Solana will further increase in the future, and the value of Solana is expected to rise accordingly. Demand for Solana, which is used to settle withdrawals and pay network fees, is already at a high level. We hope that it will be supported by developers.

Partner with famous companies

Solana has already partnered with several well-known companies such as Google, Brave, Meta, and Discord. Since we are affiliated with a global company, there is a low possibility that the stock will collapse easily. It is said that they will be able to form alliances with even more companies in the future, and as a result, their trust will increase and their value will rise. Stay tuned for future announcements and releases of new collaborations.

network down

Solana also has negative elements in her past. In 2022 and 2024, a problem occurred in the mainnet category when a large number of transactions occurred, causing a temporary large-scale remittance jam. After that, we have taken measures to manage the problem in case a large number of transactions occur at once. The value will change depending on the future. There was also another hacking incident.

Recommended virtual currency exchanges where you can purchase SOL

Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover Bitcoin, altcoins (Ethereum (ETH), Tether, etc. (USDT), Ripple (XRP)), and where you can invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.

Bybit

Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.

ExchangeBybit
LocationUAE
Coin300~
Leverage100x
CommissionMaker:0.1%
Taker:0.1%
URLHome

MEXC Global

MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.

ExchangeMEXC Global
LocationSingapore
Coin1500~
Leverage200x
CommissionMaker:0.010%
Taker:0.050%
URLHome

Gate.io

Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.

ExchangeGate.io
LocationCayman Island
Coin1700~
Leverage125x
CommissionMaker:0.15~0.2%
Taker:0.15~0.2%
URLHome

KuCoin

KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.

ExchangeKuCoin
Locationseychelles
Coin700~
Leverage100x
CommissionMaker:0.1%
Taker:0.1%
URLHome

BitGet

BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.

ExchangeBitget
LocationSingapore
Coin700~
Leverage125x
CommissionMaker:0.1%
Taker:0.1%
URLHome

Points to note when trading virtual currency

One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.

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