Solana (CCC:SOL-USD) is down about 8% over the past 24 hours, providing an opportunity for investors to buy the dip in this so-called Ethereum (CCC:ETH-USD) killer.
The Solana blockchain has significantly lower latency and fees than the Ethereum blockchain, and it has a higher transaction throughput to boot.
Solana isn’t the only altcoin out there with its sights set on the second-largest cryptocurrency, but SOL-USD has grown dramatically since the beginning of this year’s cryptocurrency boom.
SOL-USD recently raised $314 million in a round of funding. Those funds will be used to bootstrap current and future decentralized applications (dApps) on the Solana blockchain, venture investing and other operations.
Solana utilizes a proof-of-stake protocol to validate transactions, meaning you have to own some SOL-USD before you can start earning it.
Where to Buy Solana (SOL-USD) Now
In terms of volume, the largest platforms for trading SOL-USD are Binance, OKEx and Huobi Global; both of the latter require users to purchase Solana with Bitcoin (CCC:BTC-USD) or Tether (CCC:USDT-USD).
SOL-USD bulls could also purchase Solana from Bilaxy, Bithumb or Serum DEX. Investors should take note that prices fluctuate somewhat between exchanges and currency of purchase; make sure to evaluate fees and exchange rates to ensure the best prices.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.