Projects listed: 276 |
BTC Dominance: 0.00% | Volume (24h): $45,136,192,514 | Market Cap: $2,589,721,146,778
Solana
SOL
$171.50
Sector
Layer 1
Exchange Debut
2020-04-11
Market Cap
79,682,655,282
Maxim Supply
∞
Circulating Supply
464,615,242
Circ. Supply(%)
∞
Solana
SOL
Price
$171.50
Market Cap
Sector
Exchange Debut
Volume 24h
High 24h
Low 24h
3042708984
179.34583337701
166.14702528711
Change 24h
Change 7d
Change 30d
-3.2591
7.4997
25.8288
Maxim supply
Circulating supply
Circulating supply(%)
∞
464,615,242
∞
The opinion of artificial intelligence (AI), based on the fundamental analysis of the Solana cryptocurrency:
The Solana project, founded by Anatoly Yakovenko, is a significant player in the realm of decentralized finance (DeFi). It utilizes innovative technology, such as proof-of-history (PoH) consensus combined with proof-of-stake (PoS) blockchain consensus, to facilitate decentralized app (DApp) creation. The project’s goal is to improve scalability and make DeFi more accessible on a larger scale. The overall score of Solana, based on the fundamental analysis of the Solana cryptocurrency, is 8.03 out of 10, a commendable achievement considering its relatively recent establishment in 2020. Now let’s dive into the detailed analysis of each criterion.
SOCIAL & MASS MEDIA: Score 7.5 out of 10
The Solana project scores well in terms of attracting followers on social media pages, achieving a perfect score of 10. Its presence in the media is also noteworthy, scoring 8 out of 10. However, community activity on social media could be improved, as it stands at a score of 1 out of 10. This discrepancy presents an opportunity for the project to better engage its online community and raise the overall score in the future.
AUDIT & SECURITY: Score 8.58 out of 10
On the security front, Solana demonstrates a strong presence. It has excellent liquidity on exchanges, scoring a perfect 10, and its transparency of information is relatively good at 7.5 out of 10. The audit results also show promise with a score of 8.5 out of 10, emphasizing the security of the Solana blockchain.
TOKENOMICS: Score 7.78 out of 10
In the realm of token economy, Solana has managed to maintain a balance. With an inflation score of 8 out of 10 and a similar score for its centralized monetary mass, it appears to maintain control over its token’s economic aspects. The fundamental analysis of the cryptocurrency Solana has shown that its tokenomics are fairly robust.
ECOSYSTEM DEVELOPMENT: Score 8.44 out of 10
Regarding ecosystem development, Solana has made substantial strides. It has shown considerable ability to meet objectives, and plans for new developments are in place, both achieving a score of 7.8 out of 10. This commitment to progress suggests that Solana is keen on continuous improvement and growth.
TEAM & DEVELOPERS: Score 8.12 out of 10
The team behind Solana, led by Anatoly Yakovenko and consisting of experienced personnel from Qualcomm and Dropbox, receives a respectable score of 8.12 out of 10. The number of software developers could be improved, but their experience is well-recognized with a score of 8.4 out of 10.
PRODUCT & UTILITY: Score 7.72 out of 10
On product and utility, Solana scores well with 7.72 out of 10. The utility of the product and the tokens within the ecosystem both hold promising scores of 7.5 and 8.05 respectively. The project’s primary focus on decentralized finance and decentralized app development has clear potential for real-world application.
PARTNERS & INVESTORS: Score 8.38 out of 10
Finally, the partners and investors category showcases Solana’s well-rounded approach. It achieves a commendable score of 8.38 out of 10, with the number and capacity of investors scoring 8.5 and the number and quality of partners scoring 8.25.
Fundamental analysis of the Solana cryptocurrency – The final conclusion
Final Conclusion
Based on the fundamental analysis of the cryptocurrency Solana, this project displays immense potential in the rapidly evolving DeFi landscape. Its strong scores across different categories indicate a well-rounded approach to development and sustainability, with a particular strength in audit and security, ecosystem development, and the involvement of partners and investors. The high liquidity on exchanges and robust security protocols further boost its investment attractiveness.
However, the relatively lower score in community activity on social media signals a need for improvement in engaging with its user base. This is a key aspect in the crypto world, where community support and involvement often play a significant role in a project’s success.
While the fundamental analysis of the cryptocurrency Solana presents an overall positive outlook, it’s important for potential investors to keep in mind that all investments carry risks. The volatility of the cryptocurrency market, regulatory uncertainties, and potential technical vulnerabilities are aspects to consider. That said, given Solana’s scores from the fundamental analysis, it appears to be a strong player in the crypto space, and worth considering as a part of a diversified investment portfolio.
In conclusion, the Fundamental analysis of the cryptocurrency Solana reveals a promising project with robust technology, a strong team, and evident potential for growth. Solana’s commitment to continuous improvement and scaling DeFi applications signifies a promising future for this blockchain project. The risk analysis based on the scores from the fundamental analysis suggests that while Solana has areas to improve, the strengths notably outweigh the weaknesses, making it an attractive option for those looking to diversify their cryptocurrency investments.
The Emergence of Solana
Solana is a pioneering open-source initiative that leverages the unrestricted nature of blockchain technology to deliver decentralized finance (DeFi) solutions. Conceptualized in 2017, it officially launched in 2020 under the patronage of the Solana Foundation, based in Geneva. The principal architect of Solana is Anatoly Yakovenko, a former Qualcomm and Dropbox engineer, who joined forces with Greg Fitzgerald, a fellow Qualcomm colleague, to create this groundbreaking protocol.
Unique Proposition of Solana
What sets Solana apart is the proof-of-history (PoH) consensus designed by Yakovenko. This innovative concept improves scalability, thereby enhancing the protocol’s usability. Solana stands out in the crypto arena due to its extremely fast blockchain processing times. This attribute, coupled with its hybrid protocol, reduces the validation times for transactions and smart contract execution. Consequently, it has garnered considerable interest from institutional investors.
Consistent Performance and Challenges
Solana has maintained its place among the top ten in the CoinMarketCap rankings, thanks to an impressive bull run and rising developer engagement within its ecosystem. The Solana ecosystem, despite facing intermittent network outages and accusations of biased tokenomics, continues to thrive with the rising DeFi landscape and the growth of NFTs and gaming. This performance has led some to consider Solana as a strong competitor to Ethereum, a dominant smart contract platform.
In conclusion, Solana, with its unique PoH consensus and speedy transaction times, has carved a niche in the decentralized finance space. Despite facing challenges, its robust and versatile platform has been successful in attracting both retail and institutional investors. The increasing activity in its ecosystem underpins the potential of this blockchain project in the evolving cryptocurrency landscape.
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- Latest analysis update: June 14, 2023
Solana - SOL performance
GENERAL CRITERIA:
Score
SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy
Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.
Audit & Security In particular, the team looks if the project is audited, how extensive the audit is, at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.
Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.
Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.
Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.
Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.
Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.
Go to Methodology
Content description
Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.
Audit & Security In particular, the team looks if the project is audited, how extensive the audit is, at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.
Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.
Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.
Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.
Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.
Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.
