Solana (SOL) has emerged as one of the most influential open-source blockchain platforms in the cryptocurrency space, attracting developers, investors, and institutions worldwide. Designed for speed, scalability, and low-cost transactions, Solana supports a rapidly growing ecosystem of decentralized applications (dApps), from DeFi and NFTs to blockchain-based mobile devices.
With its native token SOL playing a central role in network operations and governance, understanding current pricing, market dynamics, and technological strengths is essential for both new and experienced crypto participants.
Solana to IDR Price Converter
The current exchange rate for Solana (SOL) stands at IDR 2,410,785, reflecting real-time market data. This value allows Indonesian investors to track their holdings or plan purchases with accurate local currency conversion.
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Key Market Statistics
Understanding Solana’s market performance requires analyzing several core metrics that reflect its health, adoption, and investor sentiment.
Market Capitalization
IDR 1,288,055,245,617,614
Market capitalization represents the total market value of all circulating Solana tokens. It's calculated by multiplying the current price of SOL by its circulating supply. A high market cap indicates strong investor confidence and widespread adoption.
Market cap is a key indicator of a cryptocurrency’s stability and dominance within the digital asset landscape.
24-Hour Trading Volume
IDR 66,493,646,945,195
This metric shows the total value of SOL traded across exchanges in the past 24 hours. High trading volume often signals increased interest, liquidity, and potential price momentum.
Volume / Market Cap Ratio
5.16%
This ratio measures how actively SOL is being traded relative to its overall market size. A ratio above 5% suggests strong market engagement and potential volatility—common in fast-growing ecosystems like Solana.
Fully Diluted Valuation
IDR 1,455,980,229,305,253
This figure estimates Solana’s market value if the full maximum supply of SOL were in circulation. It helps investors assess long-term valuation potential beyond current supply limits.
All-Time High (ATH)
IDR 4,805,355
Solana reached its peak price during the 2021 bull run, driven by explosive growth in decentralized finance (DeFi) and non-fungible token (NFT) projects built on its network.
Circulating Supply
534,609,014 SOL
This is the number of SOL tokens currently available and actively traded in the market. The circulating supply can change over time due to staking rewards or token burns.
Total Supply
604,306,498 SOL
Total supply includes all issued tokens minus those permanently removed from circulation. Unlike Bitcoin’s fixed cap, Solana’s supply increases gradually through inflationary mechanisms designed to incentivize network validators.
What Is Solana (SOL)?
Launched in 2017 by Anatoly Yakovenko, Solana is a high-performance blockchain engineered for scalability without sacrificing security or decentralization. Its primary goal is to enable fast, secure, and cost-efficient transactions—making it ideal for dApp development and mass adoption.
At the heart of Solana’s architecture is its native cryptocurrency, SOL, used for paying transaction fees, staking, and participating in governance decisions.
Anatoly Yakovenko’s background in systems engineering at companies like Qualcomm and Dropbox informed his vision for a more efficient blockchain. His breakthrough innovation—Proof of History (PoH)—addresses one of blockchain’s biggest bottlenecks: time synchronization across nodes.
Core Technological Innovations
Solana integrates eight key technologies that work together to deliver unmatched throughput:
- Proof of History (PoH): A cryptographic clock that sequences transactions before they’re processed, reducing consensus time.
- Tower BFT: A PoH-optimized version of Practical Byzantine Fault Tolerance (PBFT) ensuring fast finality.
- Turbine: A data propagation protocol that breaks data into smaller packets for faster transmission across the network.
- Sealevel: Enables parallel smart contract execution across thousands of cores.
- Gulf Stream: Eliminates mempool reliance by forwarding transactions ahead of time.
- Pipelining: Streamlines transaction processing using specialized hardware.
- Cloudbreak: A horizontally scalable state architecture.
- Archivers: Distributed storage nodes that maintain historical blockchain data.
These innovations allow Solana to handle up to 65,000 transactions per second (TPS)—far exceeding Ethereum’s capacity and rivaling traditional payment networks like Visa.
Key Figures Behind Solana
While Anatoly Yakovenko is the public face of Solana, the project was built by a team of seasoned technologists:
- Greg Fitzgerald – Co-founder and CTO. Former Senior Staff Engineer at Qualcomm.
- Raj Gokal – Co-founder and COO. Ex-product director at Omada Health with experience at Google and Boston Consulting Group.
- Eric Williams – Co-founder and Chief Scientist. Holds a PhD in Physics and previously worked as a data scientist.
Their combined expertise in distributed systems and enterprise software has been instrumental in scaling Solana’s infrastructure.
Notable Price Movements
Solana’s price history reflects both technological progress and broader market cycles:
- August 2020: Initial Coin Offering (ICO) launched at ~$0.22 per SOL.
- May 2021: Reached $58.30 amid rising DeFi adoption.
- September 2021: Peaked at $214.96 as NFT platforms like Degenerate Ape Academy gained traction.
Despite setbacks during market downturns, Solana has consistently rebounded due to robust developer activity and ecosystem expansion.
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Solana’s Expanding Ecosystem
Solana hosts a vibrant ecosystem of dApps across multiple sectors:
- Serum: A decentralized exchange (DEX) enabling fast and low-cost trades.
- Raydium: An automated market maker (AMM) providing liquidity across Solana-based markets.
- Mango Markets: A decentralized margin trading platform.
- Metaplex: Powers NFT creation and distribution on Solana.
- Solana Saga: A blockchain-focused smartphone launching in 2023 to integrate crypto into daily life.
Additionally, partnerships with companies like Shopify and Shopify-powered NFT marketplaces have expanded retail use cases.
Frequently Asked Questions (FAQ)
Q: Is Solana better than Ethereum?
A: While Ethereum remains dominant in DeFi and NFTs, Solana offers faster speeds and lower fees. However, Ethereum has stronger decentralization and security guarantees. The choice depends on your use case.
Q: Can Solana handle large-scale applications?
A: Yes. Thanks to its high TPS and low latency, Solana is well-suited for scalable apps like gaming, social media platforms, and real-time financial services.
Q: How do I store SOL safely?
A: Use hardware wallets like Ledger or software wallets such as Phantom or Trust Wallet for secure storage.
Q: Does Solana support smart contracts?
A: Absolutely. Solana runs smart contracts using programs written in Rust or C, executed via the Sealevel engine.
Q: Is Solana environmentally friendly?
A: Yes. As a Proof-of-Stake network enhanced by PoH, Solana consumes minimal energy compared to Proof-of-Work chains like Bitcoin.
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Final Thoughts
Solana continues to position itself as a leading Layer 1 blockchain by combining cutting-edge technology with real-world utility. With growing adoption in DeFi, NFTs, mobile integration, and AI-driven applications—such as its recent ChatGPT collaboration—it remains a compelling option for forward-thinking investors.
As always, conduct thorough research before investing. Monitor price trends, technological updates, regulatory developments, and macroeconomic factors that could influence SOL’s future trajectory.
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