Proof of History Was Introduced
Anatoly Yakovenko presented Proof of History, a system designed to create a verifiable record of when events occur and the order in which they happen.
ABOUT SOL
About Solana (SOL)
Solana (SOL) is the cryptocurrency that powers activity across the Solana network. SOL is used to pay transaction fees, transfer value and participate in staking, where coins can be delegated to validators that help secure the network.
The live snapshot shows the current price of SOL and its latest market data. You can view the Solana price today in USD or switch to euros, GBP, or CAD before exploring the cryptocurrency’s origins, development and role within the wider market.
SOLANA PROFILE
Solana at a Glance
SOL provides the economic foundation of the Solana network. It is used to pay for transactions and can be delegated through staking, giving holders a way to support validators that process transactions and participate in consensus.
SOL follows an inflationary issuance schedule without a fixed maximum supply. New SOL is distributed through staking rewards, while part of each base transaction fee is burned and removed from the total supply.
SOLANA ORIGINS
The Idea
The Project
The Network
When Was Solana Created?
Solana’s development began in 2017, when Anatoly Yakovenko introduced Proof of History as a way for computers to establish the order and timing of events without relying on a central clock. This idea became the foundation for a network designed to process transactions quickly while keeping activity verifiable.
Raj Gokal joined the project in December 2017, followed by Greg Fitzgerald and Stephen Akridge in early 2018. Together, the founding team developed the software and company that became Solana Labs. The network reached its next major stage when the Solana genesis block was created on March 16, 2020.
The Founding Team Built Solana
Raj Gokal, Greg Fitzgerald and Stephen Akridge joined Yakovenko as the project moved from an early technical concept into an actively developed network.
Solana Mainnet Beta Began
Solana’s genesis block established the Mainnet Beta network. SOL later became available for public trading and wider use across the growing ecosystem.
UNDERSTANDING SOLANA
2020
2021
2024
2025
2026
Solana Evolution
SOL has developed from a newly traded cryptocurrency into an asset used for transaction fees, staking and activity across the Solana ecosystem. Its role expanded as more exchanges listed the coin, staking rewards went live and new applications brought additional users and transactions to the network.
Later developments opened further ways to gain exposure to SOL and strengthened the infrastructure supporting it. These milestones show how Solana has evolved through exchange trading, staking, Solana ETF products and the arrival of additional validator software.
SOL Became Publicly Tradable
Public trading for SOL opened in April 2020, shortly after the Solana network launched. Early exchange listings gave market participants a way to buy, sell and establish a public price for the cryptocurrency.
Solana Staking Rewards Went Live
Protocol inflation and staking rewards were activated on February 10, 2021. SOL holders could delegate their coins to validators and receive a share of the rewards distributed for helping secure the network.
Token Extensions Launched
Solana introduced Token Extensions in January 2024, expanding its token standard with features such as confidential transfers, transfer fees and additional controls for issuers. The upgrade broadened what developers and institutions could build directly on the network.
A U.S. Solana Staking ETF Launched
The REX-Osprey SOL + Staking ETF began trading on July 2, 2025. The product gave U.S. brokerage investors exposure to SOL and staking rewards without requiring them to manage the cryptocurrency directly.
Firedancer Became Available on Mainnet
Firedancer 1.0 became available on Solana Mainnet in 2026. The independent validator client expanded the software available to network operators and reduced Solana’s reliance on a single main validator implementation.
UNDERSTANDING SOLANA
How Does Solana Work?
When someone sends SOL, their wallet creates a transaction containing the recipient, amount and other required instructions. The sender approves it with their private key, and the transaction is forwarded to the Solana network with a fee paid in SOL.
A scheduled validator orders and processes the transaction before sharing the result with the rest of the network. Proof of History provides a verifiable sequence of events, while validators use Proof of Stake to vote on the resulting blocks. Once enough delegated stake agrees on the network’s state, the transaction reaches confirmation and eventually finality.
01
Sign
The sender’s wallet uses a private key to authorize the SOL transaction and confirm that it came from the account holder.
02
Submit
The signed transaction is sent to the network and forwarded to the validator scheduled to process transactions at that time.
03
Process
The validator orders and executes the transaction before adding the result to a proposed block that other validators can check.
04
Confirm
Other validators replay the block and vote on its validity. As stake-weighted agreement increases, the SOL transaction moves from confirmation to finality.
What Shapes Solana’s Price?
The price of SOL is determined by buying and selling across the exchanges and markets where the cryptocurrency is traded. SOL follows an inflationary issuance schedule, while part of each base transaction fee is burned. Its available supply also depends on how much SOL is circulating, staked or held by market participants.
Network activity, trading liquidity, staking demand, institutional products and conditions across the wider cryptocurrency market can all influence the price of Solana. These factors often overlap, which is why short-term price movements rarely have one confirmed explanation.
SOL Supply and Staking
New SOL enters circulation through protocol inflation, while part of each base transaction fee is burned. Staking can also reduce the amount of SOL readily available for trading.
Market Demand
The price can rise or fall as individuals, companies, funds and other market participants increase or reduce their exposure to SOL.
Trading Liquidity
Markets with less available liquidity can experience larger price movements when substantial buy or sell orders are placed.
Network Activity
Demand for transactions, applications and staking can influence interest in SOL. Higher network activity can support demand, although it does not guarantee that the price will rise.
Solana ETFs and Institutional Flows
Purchases and sales connected to Solana exchange-traded products can add to market demand or selling pressure. Solana ETF news can also influence expectations before funds begin recording significant flows.
Regulation and Market Conditions
Regulatory developments, interest rates, risk appetite and movements across the wider cryptocurrency market can affect how investors value SOL.
What Is the Price of Solana Now?
SOL is currently priced at $119.89 USD, down 1.15% over the past 24 hours. The live Solana snapshot above provides the latest price, market capitalization, trading volume and circulating supply.
Use the currency selector to view the Solana price today in USD, the Solana price in euros, the Solana price in GBP, or the Solana price in CAD.
Why Is Solana Price Rising?
The Solana price may rise when buying demand becomes stronger than the available selling liquidity. This can happen alongside wider cryptocurrency market gains, increased network activity, ecosystem growth, higher staking demand or inflows into SOL-linked investment products.
Several factors can influence the market at the same time. A price increase should only be linked to a specific event when trading data and confirmed reporting support that explanation.
Why Is Solana Price Dropping?
The Solana price may drop when selling pressure exceeds current demand. Broader market weakness, leveraged liquidations, profit-taking, lower network activity, changes in circulating supply or outflows from SOL-linked products can all contribute.
The latest Solana news may provide useful context, but a headline appearing near a price decline does not prove that it caused the movement.
Can You Cash Out Solana for Real Money?
Yes. SOL can be sold for government-issued currency through a supported exchange, broker or crypto off-ramp. Available currencies may include US dollars, euros, pounds sterling and Canadian dollars, depending on the provider and the user’s location.
The amount received depends on the Solana price when the trade is completed, the quantity sold and any trading, conversion, network or withdrawal fees. Staked SOL must first be deactivated and returned to an available balance before it can be transferred or sold.
Choose a Supported Service
Select an exchange or financial service that supports native SOL deposits and withdrawals in your required currency. Check whether the provider operates in your jurisdiction and review its fees, limits and identity-verification requirements.
Make the SOL Available
SOL held in a regular wallet can generally be transferred immediately. If the coins are staked, deactivate the stake and wait for the process to complete before attempting to move them.
Transfer and Sell the SOL
Send SOL to the deposit address supplied by the service and select the Solana network. Check the address carefully and include any reference or memo requested by the provider. Once the deposit arrives, place an order to sell SOL for the chosen fiat currency.
Withdraw the Funds
Withdraw the proceeds using an available bank account, card or supported payment method. Processing times, withdrawal fees and daily limits vary between providers and jurisdictions.
Before You Sell
Before You Sell Solana
Check that your SOL is available to transfer, that the receiving service supports the Solana network and that you understand the total cost before completing the sale.
Service and Access
Supported Service
Native SOL deposits and withdrawals in your chosen currency
Account Access
Regional availability and identity-verification requirements
Staking and Costs
Available SOL
Staked SOL must be deactivated before it can be transferred
Total Cost
Trading spreads, network fees and withdrawal charges
Transfer and Records
Deposit Details
Solana network, wallet address and any required reference
Transaction Records
Sale price, fees, staking rewards and withdrawal details
Disclaimer Selling SOL or receiving staking rewards may have tax consequences. Keep a record of the transaction and check the rules that apply in your jurisdiction.
Helpful Solana Guides
Explore practical Coin Insider guides covering SOL and the Solana ecosystem. These selected resources provide additional guidance for readers who want to take the next step.
Guide
How to Stake Solana: A Complete Guide
Staking Solana has become one of the most popular ways to earn passive income in crypto, thanks to its high throughput, low fees, and relatively attractive…
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Guide
How to Buy Solana: A Beginner’s Guide
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