Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

Solana (SOL) is the ninth-largest cryptocurrency in the world right now, with the same founded over two years ago. It is built on the proof-of-stake (PoS) consensus mechanism. It is also one of the first cryptocurrencies to use the innovative proof-of-history (PoH) mechanism. Founded by Anatoly Yakovenko, Solana has slowly emerged as a strong competitor to Ethereum in the global cryptocurrency market.

At its 2020 launch, Solana was trading at below $1 and rose by around 12,000% in 2021, remaining bullish almost throughout 2021. On 6 December, it rose to its ATH of $258.93.

Though the recent Ethereum Merge has impacted the crypto-industry, Yakovenko said in an interview with Bloomberg Technology,

“When you look at the number of transactions that Solana handles from applications and from users on a daily basis, that’s more than not just Ethereum but all Ethereum-based blockchains combined. So I think Ethereum has a long way to go on scalability.”

Its increasing popularity can be assessed by the fact that popular American comedian and television host Steve Harvey also joined the bandwagon. He did so when he changed his Twitter profile to that of a Solana Monkey Business NFT in September last year.

Source: Twitter

American singer Jeson Derulo tweeted about his excitement for the token last year, saying that he betted on Solana and enjoyed the ride.

Solana has raised around $335.8 million over 9 funding rounds, with Alameda Research, Andreessen Horowitz and Polychain being its leading investors.

The current year so far has, however, proven to be highly volatile for