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 143.98 U.S. dollars for SOL on May 4, 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 nun-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.

Prices for SOLUSC Solana USD Coin including live quotes, historical charts and news. SOLUSC Solana USD Coin was last updated by Trading Economics this June 24 of 2025.

The market cap of Solana, a cryptocurrency connected with Decentralized Finance or DeFi, grew by 400 percent in the summer of 2021. Originally launched only in April 2020, 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.

By July 2024, over 464 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 21 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 500 million, but the blockchain burned (erased from the blockchain) 11 million of them. By December 2021, the maximum supply was around 510 million SOL.

Prices for SOLTHB Solana Thai Baht including live quotes, historical charts and news. SOLTHB Solana Thai Baht was last updated by Trading Economics this June 10 of 2025.

Prices for SOLLTC Solana Litecoin including live quotes, historical charts and news. SOLLTC Solana Litecoin was last updated by Trading Economics this June 24 of 2025.

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 May 4, 2025, for example, a single BNB coin was worth more than 586.00 U.S. dollars - a value that very different from the all-time high of 600 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 reward token in 2017 to an ecosystem after 2019 As 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 BNB BSC, 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.

Prices for SOLARS Solana Argentine Peso including live quotes, historical charts and news. SOLARS Solana Argentine Peso was last updated by Trading Economics this June 24 of 2025.

Prices for SOLUNI Solana Uniswap including live quotes, historical charts and news. SOLUNI Solana Uniswap was last updated by Trading Economics this June 23 of 2025.

Prices for SOLKRW Solana South Korean Won including live quotes, historical charts and news. SOLKRW Solana South Korean Won was last updated by Trading Economics this June 24 of 2025.

Prices for SOLERN Solana Eritrean Nakfa including live quotes, historical charts and news. SOLERN Solana Eritrean Nakfa was last updated by Trading Economics this June 24 of 2025.

Prices for TJSSOL Tajikistani Somoni Solana including live quotes, historical charts and news. TJSSOL Tajikistani Somoni Solana was last updated by Trading Economics this June 10 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 300 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.

Prices for SOLMXN Solana Mexican Peso including live quotes, historical charts and news. SOLMXN Solana Mexican Peso was last updated by Trading Economics this June 24 of 2025.

Prices for VNDSOL Vietnamese Dong Solana including live quotes, historical charts and news. VNDSOL Vietnamese Dong Solana was last updated by Trading Economics this June 10 of 2025.

Prices for BIFSOL Burundian Franc Solana including live quotes, historical charts and news. BIFSOL Burundian Franc Solana was last updated by Trading Economics this June 10 of 2025.

Transactions in NFTs were significantly lower in 2024 than during the summer of 2021 when several tokens gained popularity. Most of these transactions were likely related to play-to-earn Vietnamese video game Axie Infinity, which became the world's most valuable NFT collection in August 2021 - although its sales volume did decline since. The gaming segment reported the highest sales volume of the non-fungible token (NFT) market in 2020, with over *** times the sales in sports projects. The overall market cap of NFTs in 2024, however, was noticeably smaller. NFT in 2024: Searching for legitimacy While cryptocurrency and Bitcoin saw their interest surge in early 2024 after the acceptance of Bitcoin ETFs in the United States, the NFT market has been struggling. For the larger audience, non-fungible tokens still seemed to be confusing what they are supposed to do, whereas crypto increasingly found legitimacy. The slowdown in the NFT market led one of the world's largest NFT marketplaces, OpenSea, to lay off large parts of its staff in October 2023. Solana to pave the way for NFTs? One of the blockchain networks that is closely affiliated with NFTs in 2024 is that of Solana. The monthly sales volume of this blockchain outperformed that of Ethereum in ************, causing Solana's market share in the overall crypto market to reach its highest value ever. Solana's position comes from relatively low costs but especially high transaction speeds and the sizable airdrops from multiple projects. This attracted significant amounts of capital, further fuelling the network. Solana's growth may provide the framework for the NFT market as a whole, as it slowly seeks to take over Ethereum's position in this part of the decentralized digital asset world.

Prices for LSLSOL Lesotho Loti Solana including live quotes, historical charts and news. LSLSOL Lesotho Loti Solana was last updated by Trading Economics this June 24 of 2025.

Prices for SOLISK Solana Icelandic Króna including live quotes, historical charts and news. SOLISK Solana Icelandic Króna was last updated by Trading Economics this June 10 of 2025.

Prices for LBPSOL Lebanese Pound Solana including live quotes, historical charts and news. LBPSOL Lebanese Pound Solana was last updated by Trading Economics this June 24 of 2025.