Solana (SOL) Hits a New All-Time Highs, Topping $83

While the crypto market is retracing, Solana (SOL) hit a new all-time high of $83.12. This move resulted in the open-source trading volume surging by 121.31% in 24h.

Solana Logo
Solana Logo by Optimisus

The highly functional open-source project that banks on blockchain technology’s permissionless nature to give decentralized finance (DeFi) solutions hit a new all-time high while the market s going down. The price of SOL went up by 20% in the last 24-hour.

This month is the month of Solana. Solana was launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. Solana protocol is designed to help DApp creation. As per the firm, it aims to improve scalability by introducing a proof-of-history (PoH) consensus by combining it with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana savors profit from small-time traders and institutional traders alike. A major focus for the Solana Foundation is to make DeFi accessible on a larger scale.