Best places to buy Solana (SOL) Coin: it is on the rise as the Breakpoint conference in Lisbon approach
- Solana (SOL) is currently trading at about $183.41.
- It is up by over 18% in the last 24 hours.
- Here is a quick guide on where to buy Solana (SOL) Coin.
Solana (SOL) coin has been making headlines in recent months following the growing popularity of Solana among dApp developers within the decentralized finance (DeFi) industry. The SOL coin has been on the rise since the beginning of 2021 with a slight pullback witnessed in September after it hit an all-time high of $214.96.
The pullback came to an end towards the end of September and the coin is expected to smash through the all-time high before the end of the year; something that has caught the attention of many crypto investors.
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Best places to buy SOL Coin
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What is Solana (SOL)?
Solana (SOL) is the native token of the Solana blockchain protocol and it is mostly referred to as just SOL.
Solana blockchain protocol is designed to provide dApp developers with a platform to create and launch their applications. It is a major competitor of Ethereum blockchain since it offers better scalability and higher transaction throughput than Ethereum.
Solana uses the proof-of-history (PoH) consensus mechanism combined with proof-of-stake (PoS) consensus, which is better compared to the proof-of-work consensus mechanism used by Ethereum and Bitcoin.
Should I buy the SOL token today?
If you are looking to invest in a cryptocurrency whose price has the potential of rising exponentially, then SOL is a good choice especially.
Nevertheless, you should be aware of the fact that buying the cryptocurrency market is extremely volatile.
Solana price prediction
The price of Solana is expected to continue gaining momentum especially due to the rising popularity of decentralized applications (dApps) within the Defi industry.
More so, developers are looking for a blockchain platform that can allow them to develop scalable dApps and Solana offers a better solution compared to Ethereum which had in the past dominated the industry.