Following NFT hype and growing demand in the DeFi community, the price of cryptocurrency Solana, or SOL, more than tripled during the summer of 2021. This had all but evaporated by the end of 2022, as a price of 181.17 U.S. dollars for SOL on July 30, 2025, was similar to the price of Solana in early 2021. The collapse of crypto trader FTX in 2022 especially impacted the cryptocurrency, as FTX and its sister firm Alameda Research sold a large amount of the coin to avoid bankruptcy. The Solana protocol is similar to Ethereum in that it can allow for non-fungible tokens to be created ('minted') or traded. Solana, however, uses a technology called 'PoH' or Proof of History, which allows it to reach high transaction speeds. The Solana Foundation, the creators of the protocol, based in Switzerland, claims they could reach up to 65,000 transactions per second compared to 16 for Ethereum. Additionally, Solano had no transaction fees or 'gas', unlike Ethereum, which had growing transaction costs. These two reasons combined - Solana being deemed cheaper and faster than Ethereum - turned this relatively young protocol into a breeding ground for NFT projects in August 2021.
The market cap of Solana, a cryptocurrency connected with Decentralized Finance or DeFi, grew by *** percent in the summer of 2021. Originally launched only in **********, the rapid growth in 2021 made the digital coin one of the biggest in the world in terms of market capitalization. The altcoin's move into the spotlight coincided with the growing interest in NFTs and especially DeFi, as Solana is one of the biggest blockchains in this world. It is seen as a direct competitor to Ethereum, in that it can power decentralized applications, but in a more efficient way. Solana is said, for instance, to reach transaction speeds that are similar to a VISA transaction whilst using far less energy than Bitcoin miners.
The dominance of Solana (SOL) almost tripled between July and August 2021, and continued to grow in the following months. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins". In the case of Solana, the dominance somewhat reveals how often it is used for smart contracts and whether it is a popular blockchain for Decentralized Finance (DeFi) applications.
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Prices for BTCSOL Bitcoin Solana including live quotes, historical charts and news. BTCSOL Bitcoin Solana was last updated by Trading Economics this August 2 of 2025.
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This dataset contains historical price data for the top global cryptocurrencies, sourced from Yahoo Finance. The data spans the following time frames for each cryptocurrency:
BTC-USD (Bitcoin): From 2014 to December 2024 ETH-USD (Ethereum): From 2017 to December 2024 XRP-USD (Ripple): From 2017 to December 2024 USDT-USD (Tether): From 2017 to December 2024 SOL-USD (Solana): From 2020 to December 2024 BNB-USD (Binance Coin): From 2017 to December 2024 DOGE-USD (Dogecoin): From 2017 to December 2024 USDC-USD (USD Coin): From 2018 to December 2024 ADA-USD (Cardano): From 2017 to December 2024 STETH-USD (Staked Ethereum): From 2020 to December 2024
Key Features:
Date: The date of the record. Open: The opening price of the cryptocurrency on that day. High: The highest price during the day. Low: The lowest price during the day. Close: The closing price of the cryptocurrency on that day. Adj Close: The adjusted closing price, factoring in stock splits or dividends (for stablecoins like USDT and USDC, this value should be the same as the closing price). Volume: The trading volume for that day.
Data Source:
The dataset is sourced from Yahoo Finance and spans daily data from 2014 to December 2024, offering a rich set of data points for cryptocurrency analysis.
Use Cases:
Market Analysis: Analyze price trends and historical market behavior of leading cryptocurrencies. Price Prediction: Use the data to build predictive models, such as time-series forecasting for future price movements. Backtesting: Test trading strategies and financial models on historical data. Volatility Analysis: Assess the volatility of top cryptocurrencies to gauge market risk. Overview of the Cryptocurrencies in the Dataset: Bitcoin (BTC): The pioneer cryptocurrency, often referred to as digital gold and used as a store of value. Ethereum (ETH): A decentralized platform for building smart contracts and decentralized applications (DApps). Ripple (XRP): A payment protocol focused on enabling fast and low-cost international transfers. Tether (USDT): A popular stablecoin pegged to the US Dollar, providing price stability for trading and transactions. Solana (SOL): A high-speed blockchain known for low transaction fees and scalability, often seen as a competitor to Ethereum. Binance Coin (BNB): The native token of Binance, the world's largest cryptocurrency exchange, used for various purposes within the Binance ecosystem. Dogecoin (DOGE): Initially a meme-inspired coin, Dogecoin has gained a strong community and mainstream popularity. USD Coin (USDC): A fully-backed stablecoin pegged to the US Dollar, commonly used in decentralized finance (DeFi) applications. Cardano (ADA): A proof-of-stake blockchain focused on scalability, sustainability, and security. Staked Ethereum (STETH): A token representing Ethereum staked in the Ethereum 2.0 network, earning staking rewards.
This dataset provides a comprehensive overview of key cryptocurrencies that have shaped and continue to influence the digital asset market. Whether you're conducting research, building prediction models, or analyzing trends, this dataset is an essential resource for understanding the evolution of cryptocurrencies from 2014 to December 2024.
By July 2024, over *** million Solana tokens were issued and in active circulation - but new coins arrive slowly. Although the cryptocurrency has an unlimited supply - unlike Bitcoin, of which there can only be ** million tokens and not a single more - the Solana blockchain only issues a set amount of new tokens at the beginning of each year. This issuance is based off the year-to-year inflation rate, and can therefore vary. When SOL first launched, there was a maximum supply of around *** million, but the blockchain burned (erased from the blockchain) ** million of them. By December 2021, the maximum supply was around *** million SOL.
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Cryptocurrency historical datasets from January 2012 (if available) to October 2021 were obtained and integrated from various sources and Application Programming Interfaces (APIs) including Yahoo Finance, Cryptodownload, CoinMarketCap, various Kaggle datasets, and multiple APIs. While these datasets used various formats of time (e.g., minutes, hours, days), in order to integrate the datasets days format was used for in this research study. The integrated cryptocurrency historical datasets for 80 cryptocurrencies including but not limited to Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Tether (USDT), Ripple (XRP), Solana (SOL), Polkadot (DOT), USD Coin (USDC), Dogecoin (DOGE), Tron (TRX), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Cosmos (ATOM), Stellar (XLM), Wrapped Bitcoin (WBTC), Uniswap (UNI), Terra (LUNA), SHIBA INU (SHIB), and 60 more cryptocurrencies were uploaded in this online Mendeley data repository. Although the primary attribute of including the mentioned cryptocurrencies was the Market Capitalization, a subject matter expert i.e., a professional trader has also guided the initial selection of the cryptocurrencies by analyzing various indicators such as Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), MYC Signals, Bollinger Bands, Fibonacci Retracement, Stochastic Oscillator and Ichimoku Cloud. The primary features of this dataset that were used as the decision-making criteria of the CLUS-MCDA II approach are Timestamps, Open, High, Low, Closed, Volume (Currency), % Change (7 days and 24 hours), Market Cap and Weighted Price values. The available excel and CSV files in this data set are just part of the integrated data and other databases, datasets and API References that was used in this study are as follows: [1] https://finance.yahoo.com/ [2] https://coinmarketcap.com/historical/ [3] https://cryptodatadownload.com/ [4] https://kaggle.com/philmohun/cryptocurrency-financial-data [5] https://kaggle.com/deepshah16/meme-cryptocurrency-historical-data [6] https://kaggle.com/sudalairajkumar/cryptocurrencypricehistory [7] https://min-api.cryptocompare.com/data/price?fsym=BTC&tsyms=USD [8] https://min-api.cryptocompare.com/ [9] https://p.nomics.com/cryptocurrency-bitcoin-api [10] https://www.coinapi.io/ [11] https://www.coingecko.com/en/api [12] https://cryptowat.ch/ [13] https://www.alphavantage.co/ This dataset is part of the CLUS-MCDA (Cluster analysis for improving Multiple Criteria Decision Analysis) and CLUS-MCDAII Project: https://aimaghsoodi.github.io/CLUSMCDA-R-Package/ https://github.com/Aimaghsoodi/CLUS-MCDA-II https://github.com/azadkavian/CLUS-MCDA
Solana is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake and proof of history. Its internal cryptocurrency is SOL. Bloomberg considers Solana to be "a potential long-term rival for Ethereum". Like Ethereum, Solana can interact with smart contracts. On 14 September 2021, the Solana blockchain went offline after a surge of transactions caused the network to fork, and different validators had different views on the state of the network. The network was successfully brought back online early on 15 September. The Solana platform has become increasingly popular as of October 2021 because of the perceived mining efficiency and scalability, i.e., the perception that the blockchain will be relatively easy to use when lots of computers are running it. Particularly, the perceived scalability leads many to think it will be an effective DeFi platform. Solana's scaling capability, comfortably handling roughly 50,000 transactions per second, is also exponentially faster than any major competitor.
This dataset provides the history of daily prices of Solana. All the column descriptions are provided. Currency is USD.
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These are historical datasets of the current top 10 most popular cryptocurrencies. As of now: 1. Bitcoin 2. Ethereum 3. Binance Coin 4. Tether 5. Solana 6. Cardano 7. USD Coin 8. XRP 9. Polkadot 10. Terra
Date : Date of observation Open : Opening price on the given day High : Highest price on the given day Low : Lowest price on the given day Close : Closing price on the given day Volume : Volume of transactions on the given day Market Cap : Market capitalization
Found all the historical data from website: https://coinmarketcap.com/
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Prices for SOLBCH Solana Bitcoin Cash including live quotes, historical charts and news. SOLBCH Solana Bitcoin Cash was last updated by Trading Economics this August 2 of 2025.
Solana's trading volume increased significantly on September 7, 2021, compared to the previous and following days due to changes in Ethereum's transaction fees. Indeed, these so-called gas prices from Ethereum increased by around *** percent on that single day. This caused many people to look for cheaper blockchains that - like Ethereum - provide an infrastructure for the development of Decentralized Finance or DeFi applications.
https://www.bitget.com/ph/price/hairypotheadtrempsanic69inuhttps://www.bitget.com/ph/price/hairypotheadtrempsanic69inu
HairyPotheadTrempSanic69Inu Ang pagsubaybay sa kasaysayan ng presyo ay nagbibigay-daan sa mga crypto investor na madaling masubaybayan ang performance ng kanilang pamumuhunan. Maginhawa mong masusubaybayan ang opening value, high, at close sa HairyPotheadTrempSanic69Inu sa paglipas ng panahon, pati na rin ang trade volume. Bukod pa rito, maaari mong agad na tingnan ang pang-araw-araw na pagbabago bilang isang porsyento, na ginagawang effortless na tukuyin ang mga araw na may significant fluctuations. Ayon sa aming data ng history ng presyo ng HairyPotheadTrempSanic69Inu, tumaas ang halaga nito sa hindi pa naganap na peak sa 2024-04-02, na lumampas sa $0.001359 USD. Sa kabilang banda, ang pinakamababang punto sa trajectory ng presyo ni HairyPotheadTrempSanic69Inu, na karaniwang tinutukoy bilang "HairyPotheadTrempSanic69Inu all-time low", ay naganap noong 2025-04-07. Kung ang isa ay bumili ng HairyPotheadTrempSanic69Inu sa panahong iyon, kasalukuyan silang masisiyahan sa isang kahanga-hangang kita na 63%. Sa pamamagitan ng disenyo, ang 999,971,519.65 HairyPotheadTrempSanic69Inu ay malilikha. Sa ngayon, ang circulating supply ng HairyPotheadTrempSanic69Inu ay tinatayang 0. Ang lahat ng mga presyong nakalista sa pahinang ito ay nakuha mula sa Bitget, galing sa isang reliable source. Napakahalagang umasa sa iisang pinagmulan upang suriin ang iyong mga investment, dahil maaaring mag-iba ang mga halaga sa iba't ibang nagbebenta. Kasama sa aming makasaysayang HairyPotheadTrempSanic69Inu dataset ng presyo ang data sa pagitan ng 1 minuto, 1 araw, 1 linggo, at 1 buwan (bukas/mataas/mababa/close/volume). Ang mga dataset na ito ay sumailalim sa mahigpit na pagsubok upang matiyak ang consistency, pagkakumpleto, at accurancy. Ang mga ito ay partikular na idinisenyo para sa trade simulation at mga layunin ng backtesting, madaling magagamit para sa libreng pag-download, at na-update sa real-time.
The price of the native coin from BNB Chain (formerly BSC) grew by 50 percent in late 2021 but was much lower in 2022. On July 30, 2025, for example, a single BNB coin was worth more than 805.14 U.S. dollars - a value that is very different from the all-time high of 805.14 U.S. dollars in November 2021. Regardless, Binance Coin ranked in the top 10 most expensive cryptocurrencies in 2022. Noticeable is that the price increase of BNB in November 2021 coincides with a similar price change for Ethereum (ETH), a cryptocurrency where BNB initially originated in 2017 before coming to its own years later.BNB's history: From a reward token in 2017 to an ecosystem after 2019As the name suggests, Binance Coin, or BNB, originally started as an extension of the Binance.com trading platform, the most used cryptocurrency exchange in the world. It initially functioned on the Ethereum blockchain network as an ERC-20 token, offering incentives to owners like reduced trading fees, affiliate rewards, or a lottery ticket system ('Launchpad') that let users invest in new, Binance-selected crypto projects. In 2019, however, BNB moved away from the Ethereum network and migrated to Binance's self-developed blockchain: Binance Smart Chain, or BSC (called BNB Chain since February 2022). Here, BNB started to support a chain that initially did not focus on hosting decentralized apps but focused on high transaction speed and being able to handle large amounts of traffic.DeFi and GameFi: the main segments for BNBBSC, however, made significant strides in 2021, partly due to traffic overload and high gas prices on Ethereum, as well as the growing interest in both Decentralized Finance (DeFI) and NFTs. Much like Cardano, Solana, and Terra, Binance Smart Chain consequently became a valid alternative to Ethereum. The total value locked (TVL) of BNBs blockchain within DeFi, for example, ranked only behind that of Terra and Ethereum in early 2022. Another area where Binance's blockchain and token play a significant role is that of GameFi, or 'play-to-earn' blockchain games that are powered by cryptocurrencies. Some of the more well-known and most popular NFT games, like Alien Worlds and Axie Infinity, run on the blockchain behind BNB.
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Global decentralized finance (DeFi) market worth at USD 35.02 Billion in 2024, is expected to surpass USD 1257.38 Billion by 2034, with a CAGR of 43.06%.
The market cap of cryptocurrency Algorand nearly tripled between August and September 2021, and initially continued to grow in November 2021. The rise of the ALGO coin in September was noticeable, as it came in a time when the market cap of Bitcoin and other digital coins was declining. The Algorand coin is similar to Ethereum, Cardano, Solana and Polkadot in that is powers its own layer 1 blockchain, an environment for smart contracts and essential for setting up Decentralized Finance or DeFi projects. The market cap increase in September likely reflects a sentiment that Algorand has the potential to become a new Solana.
The staking values of both Solana and Cardano made up around ** percent of their circulating supply, a percentage significantly higher than for Ethereum. This difference stems from how the cryptocurrencies are created. Ethereum 1.0, similar to Bitcoin, relies on a mechanism called "Proof-of-Work" or PoW, and is similar to mining: Lots of processing power is used to verify transactions on the blockchain and those who do all that verification work — the "miners" — get rewarded with a predetermined amount of crypto. As this process became more energy-consuming and too complicated for individuals to perform — alongside the rapid growth of decentralized finance (DeFi) protocols that demanded even more verifications — another mechanism appeared: "Proof-of-Stake" or POS. Here, people — or "validators" — commit — or "stake" — their own cryptocurrency in an automated system — often a wallet, where people will simply hold their crypto — which at certain times will randomly pick a person who gets to validate a batch of blockchain transactions. Same as before, validation leads to new cryptocurrency as a reward — essentially acting as interest after initial investment. As the amount of crypto needed can be considerable, there are also so-called "staking pools" where groups of people gather the coins needed for — or "delegate" to — an external validator, and still get the rewards. Cardano and Solana only use proof of stake, whereas the relatively new Ethereum 2.0 is also relying on it.
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According to our latest research, the global sports highlight NFT market size reached USD 2.13 billion in 2024, demonstrating robust growth driven by the increasing digitization of sports memorabilia and the surge in fan engagement initiatives. The market is projected to grow at a remarkable CAGR of 27.6% during the forecast period, reaching an estimated USD 17.67 billion by 2033. This expansion is fueled by the convergence of blockchain technology with sports entertainment, transforming the way fans interact with and own iconic sports moments. The proliferation of digital assets and the growing acceptance of NFTs as a legitimate form of ownership are key factors propelling the market forward.
One of the primary growth drivers for the sports highlight NFT market is the increasing appetite among fans for unique and verifiable digital collectibles. The ability to own a piece of sports history, such as a legendary game-winning shot or a record-breaking play, has resonated deeply with sports enthusiasts. This emotional connection, combined with the transparency and immutability offered by blockchain technology, has created a new paradigm for sports memorabilia. Sports organizations and athletes are leveraging this trend to monetize their highlights and engage with fans in innovative ways, launching exclusive NFT drops and limited-edition collectibles that often sell out within minutes. The scarcity and authenticity guaranteed by NFTs further enhance their appeal, making them highly sought-after assets in the digital age.
Another significant factor contributing to market growth is the expanding ecosystem of blockchain platforms supporting NFTs. With the advent of more energy-efficient and scalable blockchain networks such as Flow, Polygon, and Solana, the barriers to entry for both creators and buyers have been significantly reduced. These platforms offer lower transaction fees, faster processing times, and enhanced user experiences, encouraging broader participation in the sports highlight NFT market. Furthermore, the integration of NFTs into fantasy sports, gaming, and virtual reality environments is opening up new avenues for fan engagement, driving demand for interactive and immersive digital assets. Strategic partnerships between sports leagues, NFT marketplaces, and technology providers are accelerating innovation and expanding the market’s reach.
The global sports highlight NFT market is also benefiting from increased institutional interest and investment. Major sports organizations, teams, and even entire leagues are embracing NFTs as a means to diversify revenue streams and deepen fan loyalty. High-profile collaborations between athletes and NFT platforms are generating significant media attention, further legitimizing the market. In addition, the rise of secondary marketplaces has enabled collectors and investors to trade sports highlight NFTs, adding liquidity and price discovery to the ecosystem. As regulatory frameworks around digital assets continue to evolve, the market is expected to attract even more participants, ranging from casual fans to sophisticated investors, thereby sustaining its growth trajectory.
Regionally, North America remains the dominant force in the sports highlight NFT market, accounting for the largest share of global revenues in 2024. This leadership is underpinned by the strong presence of major sports leagues, a tech-savvy fan base, and a mature digital infrastructure. However, Europe and Asia Pacific are rapidly emerging as high-growth markets, driven by increasing adoption of blockchain technology and rising interest in sports NFTs among younger demographics. Latin America and the Middle East & Africa are also witnessing growing traction, supported by expanding internet penetration and innovative fan engagement strategies by local sports organizations. As the market continues to globalize, regional dynamics will play a pivotal role in shaping the future landscape of sports highlight NFTs.
The sports highlight NFT market can be segmented by type into video NFTs, image NFTs, audio NFTs, and others. Video NFTs currently dominate the market, capturing the largest share due to their ability to encapsulate iconic moments in sports history, such as game-winning shots, spectacular goals, or memorable plays. These video-based assets provide a richer, more immersive experience for fans and collectors, allowing them to relive
Non-Fungible Token Market Size 2025-2029
The non-fungible token (NFT) market size is forecast to increase by USD 84.13 billion, at a CAGR of 30.3% between 2024 and 2029. The market is experiencing significant growth, driven by the increasing demand for digital art and expanding interest from major brands.
Major Market Trends & Insights
APAC dominated the market and accounted for a 37% share in 2023. The market is expected to grow significantly in North America region as well over the forecast period. Based on the Application, the collectibles segment led the market and was valued at USD 9.10 billion of the global revenue in 2023. Based on the End-user, the personal segment accounted for the largest market revenue share in 2023.
Market Size & Forecast
Market Opportunities: USD 30.60 Billion Future Opportunities: USD 84.13 Billion CAGR (2024-2029): 30.3% APAC: Largest market in 2023
The NFT market continues to evolve, driven by the intersection of blockchain technology and digital asset management. NFT staking and fractionalization have emerged as innovative applications, enabling investors to earn passive income and access fractional ownership of high-value assets. NFT minting, a process facilitated by smart contracts, allows creators to issue unique digital tokens with on-chain data and metadata schema, ensuring authenticity and provenance tracking. Off-chain data and gas fees remain critical factors in the NFT market, with decentralized exchanges and marketplaces addressing these challenges through interoperability and security audits. The NFT market's growth is expected to reach unprecedented heights, with industry experts projecting a 25% compound annual increase in sales volume.
What will be the Size of the Non-Fungible Token (NFT) Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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For instance, a recent digital art sale saw a piece fetching over USD 69 million, underscoring the market's potential for generating significant revenue. Gaming NFTs, utility NFTs, and metaverse integration are further expanding the market's reach, with digital scarcity and unique identifiers playing a pivotal role in their appeal. Cryptographic hashing and intellectual property rights ensure the security and ownership of NFTs, while royalty mechanisms and provenance tracking provide creators with ongoing income and transparency. NFT lending and decentralized ledger technology further enhance the market's utility, enabling fractional ownership and seamless transactions. Despite these advancements, challenges persist, including interoperability issues, transaction fees, and fraud prevention. The sports segment is the second largest segment of the application and was valued at USD 6.41 billion in 2023.
Nevertheless, the NFT market's continuous dynamism and evolving patterns underscore its potential as a transformative force in the digital economy. This trend is transforming the way we perceive and value digital assets. However, the market faces uncertainty due to the nascent stage of the technology and the lack of standardization, which poses challenges for both buyers and sellers. Brands are recognizing the potential of NFTs to create unique, collectible digital items, extending their reach into the digital realm. Simultaneously, artists and creators are capitalizing on this trend by monetizing their digital art through NFT sales. Yet, the market's uncertainty arises from the lack of regulatory frameworks and the volatile nature of the market.
This instability may deter some potential investors and buyers, necessitating the need for clearer guidelines and more stable market conditions. Companies seeking to capitalize on the NFT market must navigate these challenges while staying informed of the latest trends and developments to effectively engage with this emerging market.
How is this Non-Fungible Token (NFT) Industry segmented?
The non-fungible token (NFT) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Application
Collectibles Sports Arts Others
End-user
Personal Commercial
Type
Physical asset Digital asset
Geography
North America
US Canada
Europe
Germany UK
APAC
Australia China India Japan South Korea
South America
Brazil
Rest of World (ROW)
By Application Insights
The collectibles segment is estimated to witness significant growth during the forecast period. The segment was valued at USD 9.10 billion in 2023. It continued to the largest segment at a CAGR of 0.55%.
In the evolving digital economy, Non-Fungible Tokens (NFTs) have emerged as a revolutionary form of digital ownership. These unique
The trading level of Binance Coin in ************* was not as high as it was in April and, especially, *************. This sudden increase in early 2021 occured as Binance's blockchain called BSC - Binance Smart Chain - was seen as a cheaper alternative in a time when the transaction fees (gas prices) of Ethereum increased. Binance Coin or BNB essentially functions as a fuel for this BSC blockchain, a place where people can create smart contracts or decentralized finance (DeFi) apps. Binance Smart Chain ranked as the second-most important blockchain for Decentralized Finance, behind Ethereum and ahead of Solana.
Bitcoin's role within the overall cryptocurrency market picked up in 2024, whilst Ethereum lost terrain to currencies like Solana. This according to a metric that compares a coin's market cap relative to the overall crypto market called "dominance". This ratio shows how strong, for example, Bitcoin is compared to all the other cryptocurrencies. A comparison between Bitcoin and multiple other coins reveals that the shape of the crypto market has changed dramatically over time. Bitcoin typically has a dominance of over ** percent, so the interest for analysts lies more in whether Bitcoin's market share has gone up or down when compared to altcoins.
Following NFT hype and growing demand in the DeFi community, the price of cryptocurrency Solana, or SOL, more than tripled during the summer of 2021. This had all but evaporated by the end of 2022, as a price of 181.17 U.S. dollars for SOL on July 30, 2025, was similar to the price of Solana in early 2021. The collapse of crypto trader FTX in 2022 especially impacted the cryptocurrency, as FTX and its sister firm Alameda Research sold a large amount of the coin to avoid bankruptcy. The Solana protocol is similar to Ethereum in that it can allow for non-fungible tokens to be created ('minted') or traded. Solana, however, uses a technology called 'PoH' or Proof of History, which allows it to reach high transaction speeds. The Solana Foundation, the creators of the protocol, based in Switzerland, claims they could reach up to 65,000 transactions per second compared to 16 for Ethereum. Additionally, Solano had no transaction fees or 'gas', unlike Ethereum, which had growing transaction costs. These two reasons combined - Solana being deemed cheaper and faster than Ethereum - turned this relatively young protocol into a breeding ground for NFT projects in August 2021.