Week in Solana: Solana's Explosive 5M User Surge!

Solana smashes 5M daily users!Magic Eden's controversial split!Phantom's fee fiasco!Let's unpack this week in Solana

Solana price today is $135.87 with a 24-hour trading volume of $1,693,183,337. Solana price is up 4.47% in the past 24 hours. It has a circulating supply of 510 Million and a total supply of 533 Million.

Solana opened the week at $128 and hit highs of $138 during the week. Solana price has been largely bullish over the past month, with gains of over 20%. The broader cryptocurrency market enjoyed a bullish week, with gains of over 2%.

Solana price enjoyed a strong rally in 2024, hitting highs of $400 in April. However, prices crashed sharply after the FTX collapse and hit lows of $70 in December. Solana price has since recovered and is now trading at levels last seen in May 2022.

Solana is a high-performance blockchain that is designed to handle a large volume of transactions quickly and efficiently. It uses a unique Proof-of-History consensus mechanism that allows it to achieve speeds of up to 65,000 transactions per second.

Solana is also home to a thriving ecosystem of decentralized applications (dApps), including DeFi protocols, NFT marketplaces, and games. The total value locked (TVL) in Solana dApps is currently over $4.8 billion.

Solana price is likely to continue to be driven by the growth of its ecosystem and the demand for its native token, SOL. If you are looking to buy Solana, you can do so on a cryptocurrency exchange like Binance, FTX, or Coinbase.