Solana is a third-generation blockchain built to enable the creation of smart contracts and decentralized applications (DApps). It supports a variety of decentralized finance (DeFi) platforms and non-fungible token (NFT) marketplaces. The blockchain itself was founded in 2017, while its native token, SOL, launched in 2020.
The main aim of this project is to function like the Ethereum blockchain while fixing some of its main problems, especially how it scales to handle a lot of users and how fast it can process transactions.
It uses a new kind of agreement method that blends Proof-of-History (PoH) with a special kind of Proof-of-Stake. Solana co-founder Anatoly Yakovenko published a white paper in November 2017 describing the proof-of-history (PoH) concept.
This lets it handle more than 710,000 transactions every second without requiring additional scaling. PoH works by making a series of calculations that create a digital log. This helps confirm the time at which a particular event took place.
The SOL token is Solana's native cryptocurrency and utility token. It serves as a means of transferring value while providing blockchain security through staking. In addition, users can receive rewards and pay transaction fees. Further, SOL enables users to participate in governance. The live Solana to GBP conversion is £ 164.52.
Solana's system is designed to show how a group of computer programs can work together to get rid of delays in performance when used with a blockchain. This combination lets the number of transactions processed per second grow as the network's data transfer rate increases.
Solana's architecture has all three important qualities needed for a good blockchain: it is scalable, secure, and decentralized. The architecture can handle up to 710,000 transactions per second on a regular internet connection. This can increase to 28.4 million transactions per second on a faster, 40-gigabit connection.
Solana's blockchain works using two consensus mechanisms to agree on transactions: proof-of-history (PoH) and proof-of-stake (PoS). With PoS, validators check and approve new entries in the blockchain’s record. They can do so based on the amount of Solana’s currency they own. PoH, on the other hand, lets transactions be marked with a timestamp and checked very quickly.
The current price of 1 SOL in GBP is £ 164.52.
The fastest, most convenient way to purchase Solana is to purchase it on ICONOMI. We check Solana live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Solana by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Solana is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Solana, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Solana in their structure.
Here you can read and comment on all posts made by Strategists about Solana SOL. See all Solana GBP price predictions in real time and make the best use of their crypto knowledge.
🚀 Daily Crypto Signals 🚀
Here are SYGNAL's latest, short-term trend-following signals for the top 5 cryptos:
📅 Date: 2025-01-15
📈 $BTC : Max Bullish (1)
📉 $ETH : Bearish (-0.69)
📈 $XRP : Max Bullish (1)
📈 $BNB : Max Bullish (1)
📉 $SOL : Bearish (-0.69)
Our signals are generated daily to help you make informed trading decisions.
This material by SYGNAL is for informational purposes only and does not constitute an offer to buy cryptocurrencies; past performance does not guarantee future results.
$BTC looked very bad just yesterday.
Today is a whole different story.
All in all I still think the decision to move into $PAXG and $USDT was the right one considering we had a structural break lower.
Not only were $BTC able to reverse the sell-off it even managed to move above 95k - a resistance for the last 7 days.
I now want to see it hold above.
PPI today was better than forecasted so only CPI left to remove uncertainty from the markets.
Trump taking office could be another positive catalyst though only time can tell how much of this is already priced in.
Considering all of this Crypto is in a good place and once I see confirmation I will add strong coins like $IOTA, $AAVE, $SOL, $LTC.
🚀 Daily Crypto Signals 🚀
Here are SYGNAL's latest, short-term trend-following signals for the top 5 cryptos:
📅 Date: 2025-01-14
📉 $BTC : Neutral (0.23)
📉 $ETH : Bearish (-0.69)
📈 $XRP : Max Bullish (1.00)
📈 $BNB : Bullish (0.54)
📉 $SOL : Bearish (-0.69)
Our signals are generated daily to help you make informed trading decisions.
This material by SYGNAL is for informational purposes only and does not constitute an offer to buy cryptocurrencies; past performance does not guarantee future results.
Solana ETF Anticipation: Game-Changer for $SOL?
Solana continues to face profit-taking, trading at $189.58, with ETF decisions looming. SEC rulings on Solana ETFs, expected by Jan. 23, could bring institutional inflows and reshape $SOL’s market dynamics. Resistance at $225 remains the immediate hurdle, with $175 support critical to maintaining long-term uptrends. Pro-crypto narratives, including Trump’s presidency, support Solana’s bullish trajectory into 2025. ETF approval could unlock billions, driving $SOL back to its ATH levels. Solana’s fundamentals remain robust, making it a critical player in the altcoin ecosystem.
Understanding Support and Resistance Levels for Trading
Support and resistance levels are crucial for crypto trading. Support is where buyers historically step in, preventing further declines, while resistance is where sellers dominate, capping upward movement. Calculate these levels using Fibonacci retracements, recent highs/lows, or psychological thresholds. For instance, if $SOL = fell from $225 to $175, the 50% retracement would be $200 ([(225-175) ÷ 2] + $175). Use these levels to plan entries or exits—buy at support and sell at resistance. Traders should watch for volume spikes and candlestick confirmations near these levels to validate price action.
