• Solana is one of the largest blockchain platforms with low fees and fast exchanges.  
  • The Cloud Card allows individuals to spend $SOL and stablecoins while they are earning rewards.  
  • Most of the Solana-based tokens like $JTO and $RAY are seeing strong trading volumes as the community expands.

The coin is a leading force in the cryptocurrency market with a trading volume of $67.8 billion. This impressive figure highlights Solana’s growth and importance in the crypto world. The increasing activity around $SOL shows its role as a major player in the economy. On the other hand, the Solana network is expanding and gaining more users and builders as days go by.

Solana’s Development in the Blockchain Industry

The token, which was launched in 2017, is known for its speed and low exchange fees. Its design, using both proof-of-history and proof-of-stake, allows for many deals to happen quickly. Its ability to process thousands of operations per second makes it stand out from other blockchains like Ethereum. Moreover, it offers lower fees, which attracts both developers and traders.

TOP #SOLANA TOKENS BY WEEKLY TRADING VOLUME $SOL $WIF $FIDA $BONK $JUP $GMT $PYTH $GRT $JTO $DRIFT $PRCL $CVC $TNSR $SAMO $RAY pic.twitter.com/ga6SpKkPlU

— PHOENIX – Crypto News Analytics (@pnxgrp) September 22, 2024

The network supports decentralized applications and DeFi projects. Solana’s fast growth is linked to the increasing demand for faster blockchain platforms. The rise in the use of $SOL shows how important the coin has become in the crypto world.

Cloud Card Brings More Use for Solana

Besides trading, Solana is driving innovation with the Cloud Card from Sanctum. This card lets users spend SOL and stablecoins while they are  earning rewards. It connects with Solana’s decentralized applications, making transactions simple  for users.

The Cloud Card is now available in over 100 countries, helping the token reach more people globally. This new solution shows how Solana is working to make crypto more useful for daily transactions. It allows people to spend their digital money in a simple way.

Read CRYPTONEWSLAND on google news

Growing Token Activity on Solana

Solana’s system is also home to several other active tokens. For instance, $JTO recorded a trading volume of $275.7 million, and $DRIFT reached $153.1 million. Additionally, $CVC saw $117 million in volume, showing the diversity of the tokens on Solana.

Notably, $408.8 million worth of trades were made for the $RAY token on Solana, which was used for market-making. In the meantime, the community token $SAMO had a volume of $24.8 million. Developers and investors are becoming more interested in Solana, as seen by the increase in token activity. The platform continues to show promise as more tokens become part of its growing ecosystem.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.