Solana

Solana

SOL #7
BBB 76% L1 Protocol Watch

Project Safety Score: 76%

Updated 1 minute ago
SolanaSOL
Market Cap$39977141220
24hr Volume$1614855933
24hr Change3.6%
Price$68.92950694112454
Coverage: 5 buckets · 100% resolved
Concerns raised - see Red Flags below
Scoring rubric: L1 / Protocol Coin - scored on network security, adoption, dev health, economic design, governance
Track
Record
79 A
100% · medium
Developer
Health
88 AA
100% · medium
Network
Security
78 A
100% · medium
Social
Behavioral
55 B
80% · low
Adoption
& Liquidity
80 A
100% · high

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SOL Solana Details
Type
Layer 1 (L1)
Launched
2020
HQ
Switzerland
Team
Anonymous
Smart Contract PlatformSolana EcosystemLayer 1 (L1)FTX HoldingsMulticoin Capital PortfolioProof of Stake (PoS)Alameda Research PortfolioAndreessen Horowitz (a16z) Portfolio

Solana is a Layer 1 blockchain founded in 2017 by Anatoly Yakovenko. It is designed to support decentralized applications by providing a fast, secure, and cost-effective environment, capable of processing thousands of transactions per second with low fees. The network employs a unique hybrid model that incorporates Proof of Stake and Proof of History, facilitating efficient transaction timestamping and supporting parallel execution of smart contracts through its Sealevel engine.

The platform operates on a single, unified ledger to minimize liquidity fragmentation and enhance scalability. Its native token, SOL, is utilized for transaction fees, network governance, and staking. The Solana Foundation, based in Switzerland, supports the network, which has attracted institutional interest and partnerships, including a collaboration with Visa for USDC settlements and other initiatives involving tokenization by various firms.

Risk Report

Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.

Track Record score 79 out of 100.
Solana has a solid track record, demonstrating its ability to operate for over 6 years without any regulatory actions, which reflects positively on its credibility. Although there has been one historical incident recorded, its overall stability is enhanced by relatively low concerns regarding agents, specifically one additional issue identified through research.

Economic Design score 75 out of 100.
The economic design of Solana shows a moderate level of concern due to the absence of a hard supply cap, which raises potential inflation risks. Nevertheless, the majority of its total supply is actively circulating, indicating robust usage within the ecosystem. This balance helps mitigate some of the inflationary concerns.

Developer Health score 85 out of 100.
Solana exhibits strong developer health, signified by a significant presence on GitHub with over 11,000 stars and more than 3,500 forks. The impressive commit cadence, with 171 commits in the last month, suggests active and ongoing development. Additionally, the high number of contributors signifies a vibrant developer community, further strengthening the project's sustainability.

Network Security score 80 out of 100.
The network security of Solana is commendable, bolstered by a substantial market cap nearing $50.6 billion and a solid chain age of 6.3 years. Despite having one historical incident recorded, its overall security posture remains strong, aligning well with its operational longevity and market presence.

Social Behavioral score 55 out of 100.
Solana's social behavior score reflects some challenges, evidenced by lower audience counts on several platforms, despite verified presence on Twitter and other channels. Sentiment analysis appears mostly positive, but there are noted issues including scam allegations and some negative press, which may impact public perception.

Inherently, investing in Solana carries risks typical of the crypto landscape, including regulatory uncertainties and market volatility. Factors such as previous incidents and ongoing concerns can also influence investor sentiment and behavior. Caution is advisable as with any asset in this dynamic environment.

View whitepaper ↗
Quality: high
Max supply: 511,616,946 SOL
Next unlock: 2026-05-03
Vesting complete
  • 0.9
    A study identified 76,469 Rug Pull tokens on Solana, indicating a significant number of fraudulent projects on the platform.
    arXiv · source ↗
  • rug pull 2024-01-06 · $2000000
    MangoFarmSOL deactivated its social media accounts and website following reports of missing funds, leading to an estimated loss of nearly $2 million.
  • High transaction throughput with low fees
  • Active development community
  • No hard cap on total token supply
  • Public scam allegations have been raised
  • High number of Rug Pull tokens identified on the platform

Price Chart - Solana

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85%
Profile Status
Data completeness
Some data missing
High confidence

Technical Analysis

Buy / Sell signals

Market Stats

All-Time High$293.31
All-Time Low$0.5008
Circulating579823841
Total Supply628303691

Community Sentiment

👍 73% 27% 👎

Recent News

Solana Foundation partners with Alatau City to boost Kazakhstan's blockchain innovation ecosystem

general 1 source 6 hours, 41 minutes ago

Now Trading at Its Lowest Level Since December 2023, Is Solana a Buy, Sell, or Hold?

general 1 source 11 hours, 13 minutes ago

TON blockchain adopts new consensus, challenges Solana with sub-second finality

general 1 source 1 day, 10 hours ago

A Tokenized SpaceX Stock Will Be Available on Solana the Same Day the IPO Begins Trading

general 1 source 2 days, 5 hours ago

Solana Crypto 100

general 1 source 2 days, 10 hours ago

Solana Price Eyes Rebound as WSOP Adds Crypto Payments

general 1 source 2 days, 11 hours ago

Crypto investors are preparing for the SpaceX IPO, says Solana President

general 1 source 2 days, 19 hours ago

WSOP players can now buy in with crypto fee-free after major Solana deal

general 1 source 2 days, 23 hours ago

Solana Exchange Raydium Hit With $1.34 Million Exploit as DeFi Attacks Grow

hack 1 source 3 days, 2 hours ago

News Explorer — Solana Foundation Enables Crypto Buy-Ins and Stablecoin Payouts for World Series of Poker Events

general 1 source 3 days, 7 hours ago
Posts from the solana
community on Reddit

Developer Activity

GitHub stars⭐ 11071
Forks3516
Watchers276
Commits (4 weeks)171
PRs merged23614
View on GitHub →

Solana GitHub