#  Solana (SOL)

By [cryptoslonyara.eth](https://paragraph.com/@cryptoslonyara) · 2023-04-12

---

*   **Market cap: $8.1 billion**
    

Developed to help power decentralized finance ([DeFi](https://www.forbes.com/advisor/investing/cryptocurrency/defi-decentralized-finance/)) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

When it launched in 2020, SOL’s price started at $0.77. By late April 2023, its price was around $21.00, a gain of 2,627%.

_\*Market caps and pricing sourced from coinmarketcap.com, current as of 1:31 p.m. UTC on Apr. 4, 2023._

[https://opensea.io/assets/0x4883F693C6e4A7c05Bf5Ee417da61c731D332B0e/2](https://opensea.io/assets/0x4883F693C6e4A7c05Bf5Ee417da61c731D332B0e/2)

---

*Originally published on [cryptoslonyara.eth](https://paragraph.com/@cryptoslonyara/solana-sol)*