There was a time when the Ethereum blockchain was overloaded with applications and smart contracts built it. Hence, it started to work slowly and charge higher fees. A good alternative appeared to be the Solana network, which offered the same features that Ethereum did, but with more benefits:
- Low transaction fees
- High throughput
- Speedy transactions (50,000 transactions per second), which is 20 times faster than Ethereum
- Staking opportunities (SOL is not mined but staked).
Dozens of NFT projects, games, DeFi and other product developers started to massively use the Solana network, bringing its popularity to the stars. In 2021 – 2022 the SOL coin demonstrated a record price rising to $247 at peak indicators.
However, the year 2022 turned out to be difficult in all senses, and crypto is no exception. Now, as of late November 2022, the price of Solana is $14.18, so this is an excellent opportunity to invest in this project and hold, trade, or stake it.
What are the Prospects for SOL Cryptocurrency Price?
Considering the Solana coin price history, experts have come to the conclusion that the rate may rise to $739 by the end of the following year. The project does not stop developing and gains more and more partners and hosts more crypto projects. It points to the fact that Solana will likely become the market leader, even surpassing Ethereum in the future.
How to buy SOL on the WhiteBIT Crypto Exchange?
If you have some crypto coins in your wallet, you may convert them to SOL. If you have only fiat money, you should register and pass KYC. It takes only a couple of days. Next, use your bank card, move fiat to your account (pay attention to the two-factor authentication), and find the calculator. Enter the currency you have in your account and SOL coins, and the platform will display the present Solana coin price and the fee for the transaction. Pay attention to the bank’s fees as well. In a matter of minutes, you will get SOL coins in your account.