Solana
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Solana in numbers
Solana (SOL) ranks #7 by market capitalization, at $64.90B. It belongs to the Others sector (SEC Alleged Securities). It has traded since Apr 10, 2020, across 238 markets on 95 exchanges, with $5.04B of volume in the last 24 hours. Its all-time high of $294.52 was reached on Jan 19, 2025; the current price is 69.7% below that peak. Its cycle low of $60.32 came on Jun 6, 2026.
590.34M SOL are in circulation. 99.9% of the token allocation has been unlocked. The next scheduled unlock is on Dec 1, 2026. 24 investors are recorded as backers, including Polychain Capital, Andreessen Horowitz, Alameda Research. 2 team members are listed. Development data lists 54 core developers and 116,317 code commits.
About Solana
Solana is a Layer-1 blockchain network that provides infrastructure for decentralized applications, emphasizing high throughput, low transaction costs, and support for LLVM-compatible smart contracts. It is designed to minimize performance constraints typically faced by developers.
Background
Solana's origins date back to late 2017 when Anatoly Yakovenko published a whitepaper draft detailing a new timekeeping technique for distributed systems called Proof-of-History (PoH), a method to automate blockchain transaction ordering to deliver fast transaction speeds and settlement times. Anatoly teamed up with former Qualcomm colleague Greg Fitzgerald, and the two released the first internal testnet and project Whitepaper in February 2018. Another former Qualcomm cohort, Stephen Akridge, suggested that offloading signature verification to graphics processors could further increase transaction throughput (i.e., scalability). Anatoly recruited Greg, Stephen, and three others to start the company that would eventually become Solana Labs, Inc. The founding team initially named the project “Loom” but later rebranded to Solana to avoid confusion with the sidechain scaling solution, Loom Network.
Notably, Alan Yu was one of Solana Labs, Inc.’s Co-Founders. However, based on a commercially reasonable search, he is no longer involved with the entity.
Solana Labs, Inc. first raised funds between April 2018 and July 2019, accumulating over $20.00 million in various private token sales. The sales were announced as a single Series A in late July 2019. The fundraising effort ran parallel to Solana Labs, Inc.'s work on the network, which went through several permissioned testnet phases before the project team announced its publicly incentivized testnet, Tour de SOL, in Q3 2020.
Solana launched on Mainnet Beta in March 2020, shortly after raising $1.76 million in a public token auction hosted on CoinList. The project's beta network featured basic transaction capabilities and smart contract support but did not initially include staking rewards.
Other significant events in the protocol’s history include:
According to Coindesk By mid‑2025, Solana emerged as a fully institutionalized blockchain ecosystem. Following the success of Bitcoin and Ethereum ETFs, Solana exchange‑traded products (ETPs and ETFs) gained strong regulatory traction and widespread investor interest across North America, Europe, and Asia.