Solana blockchain has been developing with more dApps, DeFi projects, and stablecoins built on the protocol.
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While Ethereum is working on making the system more time and cost-efficient, engineers often turn to alternatives like Solana. The network's popularity has been raising lately.Data reveals that the price of Solana's native token SOL has seen a 195% growth the previous month. Today, April 22, it set a new all-time high of $37.87 with a trading volume surpassing $1.4 B. The token ranks 17th with over $10 B market cap.
The number of investments in Solana also increased. Earlier this month the network's dashboard Step Finance completed a funding round with $2 M raised by Alameda Research, 3 Commas Capital, and more.
Solana blockchain and its native token SOL were launched in March 2020. The protocol presented a new timekeeping technique called Proof of History (PoH). This aims to lower fees by providing more transactions.