Daily Solana (SOL) market cap history up to September 24, 2024

The market cap of Solana, a cryptocurrency connected with Decentralized Finance or DeFi, grew by 400 percent in the summer of 2021. Originally launched only in April 2020, the rapid growth in 2021 made the digital coin one of the biggest in the world in terms of market capitalization. The altcoin's move into the spotlight coincided with the growing interest in NFTs and especially DeFi, as Solana is one of the biggest blockchains in this world. It is seen as a direct competitor to Ethereum, in that it can power decentralized applications, but in a more efficient way. Solana is said, for instance, to reach transaction speeds that are similar to a VISA transaction whilst using far less energy than Bitcoin miners.