Solana Coins to Buy (July 2024)

Solana is a high-speed blockchain known for its low transaction fees and scalability. It uses a unique Proof of History consensus mechanism to enhance its performance. The Solana ecosystem supports a wide range of applications, such as NFT platforms, DeFi applications, and various other blockchain games. 

The native cryptocurrency, SOL, powers the entire network and facilitates transactions and staking. Besides SOL, the ecosystem also features various other project-based tokens that drive innovation across NFTs, DeFi, and others. Solana’s robust infrastructure and vibrant community aim to create a dynamic and efficient decentralized economy. 

Key Takeaways

• A brief introduction to Solana and its ecosystem.
• What is the importance of Solana in the Crypto Market?
• The 10 best Solana coins to watch out for in July 2024.

Introduction to Solana

Designed for scalability, Solana’s main purpose is to build blockchain applications that reach millions of users. Instead of improving and enhancing their blockchain layer, developers can focus on building user-interactive applications to reach product market fit. Not only can it scale for the blockchain application needs, but the network continues to be optimized with user experience in mind.

Developers prioritize building the best user experience in an application. However, the user experience is often compromised due to the underlying technology of blockchains, which leads to higher fees and slow response times. Solana’s 400ms Confirmation times and lower fees allow developers to build applications that are user-friendly and accessible to every user.

What is the importance of Solana in the Crypto Market?

Solana, as a blockchain platform in the crypto market has significant importance due to its unique features and benefits that it offers to the users. They are as follows.

1. Transactions are Fast and Cheap

Compared to older blockchains like Ethereum, Solana’s transactions are very cheap. Most of the time, users have to pay less than half a cent for transactions. Additionally, with less congestion in the network, the transactions tend to take place within a second or two. On the contrary, the Ethereum platform’s transaction fee swings wildly, making Ethereum uneconomical for small transactions. 

2. The tool of the ecosystem is rapidly evolving

It can be difficult to invest in cryptocurrencies when you don’t have the right software and tools to research. Even the basics, like volume data and price, tend to be out of the reach of investors. Solana does not have any shortage of resources and tools. The investors can find more than one option to do research and be successful. The Solana ecosystem also features more than one project, which gives the investors the freedom to stake their tokens or lend them to a liquidity pool. 

10 Best Solana Coins to Invest in July

We have picked the 10 best coins from the Solana ecosystem that have the potential to help investors make the best investment decisions. Here is a detailed view of the 10 best Solana coins to buy in July 2024.

Best Solana Coin 1: Poodlana

Poodlana is a new meme token and one of the best cryptocurrencies on the Solana blockchain. Unlike other dog-themed tokens, Poodlana is all about setting trends and turning heads. Besides being a simple cryptocurrency, Poodlana is a statement of sophistication and exclusivity. Owning Poodlana means joining an elite club of trendsetters who are redefining the digital age.

Poodlana’s vision extends far beyond its launch. Partnering with renowned fashion brands and top influencers, Poodlana is set to take the world by storm. With a strong focus on the Asian markets, Poodlana is poised to become a must-have digital accessory. 

Best Solana Coin 2: 5th Scape (5SCAPE)

5th Scape is a pioneering and unified ecosystem offering augmented and Virtual reality innovations. The project seeks to reshape both AR and VR technologies for optimal utility. Its goal is to bring together the top minds in the field. The aim of 5SCAPE is to make VR available to every individual, from beginners to VR professionals. 

Additionally, it also aims to create VR headsets and AR gaming chairs. All such developments will give 5th Scape a monopoly in the market. This project is on the verge of completing its pre-sale. It has already raised around 6 Million Dollars, and the present price of 5SCAPE is around 0.00327 Dollars.

Best Solana Coin 3: BitBot

BitBot is a non-custodial crypto trading bot that offers extremely fast trade execution and can beat the pros on a level playing field. It is at the forefront of the next crypto wave and maximizes security without compromising on convenience. BitBot is backed by an open source and a decentralized custody partner. The emphasis on security is backed by additional features that prevent users from falling into scams. 

Owning BITBOT cryptocurrency gives you access to revenue-sharing features and a stake in the project’s success. The early holders stand to make the most of it in the long term as the bots attract new users and generate more money for everyone. The token’s current market capital is around 4.2 M Dollars, while its price is around 0.02 Dollars.

Best Solana Coin 4: JITO (JTO)

It is one of the best Solana coins to invest in with staking rewards. Jito is a Solana-based liquid staking protocol running in stake pool mode. This best Solana coin uses the concept of Maximum Extractable Value or MEV to improve the yield earned by the stakers. 

Jito is also flexible because the stakers can trade or use the JitoSOL tokens in other DeFi platforms. Jito is presently the second largest Solana Project by TVL which has a market capital of around 363 Million Dollars.

Best Solana Coin 5: SOL (Solana)

Solana is a high-performance blockchain platform designed for decentralized applications and crypto-native projects. It aims to provide scalable and fast solutions for users and developers and features an infrastructure capable of handling high-volume transactions. 

Its smart contracts boast unique technology to process thousands of transactions per second, making it one of the fastest blockchain platforms. Faster speeds and low costs encourage wider adoption of dApps and support more use cases. SOL’s present market capital is 80.31 Billion Dollars, and the current price of each share is around 172 Dollars.

Best Solana Coin 6: Jupiter (JUP)

Jupiter is advancing decentralization in Solana. One of its core appeals is that it aggregates liquidity from different Solana-based DEXes and reduces slippage by offering maximum trading prices. Jupiter’s TVL presently stands at around 180 million dollars. 

With the recent rise in popularity of the Solana meme coins, the number of transactions taking place on Jupiter has significantly increased. Although Jupiter’s prices have struggled recently, experts believe that it can be one of the best tokens to watch out for in the Solana ecosystem.

Best Solana Coin 7: Render

Render network is a platform that transforms how people access the power of Graphics Processing Units. It offers a decentralized marketplace where users needing high rendering can connect with organizations and individuals who need unused GPU resources.

The RNDR token is the backbone of the network. It facilitates transactions and also incentivizes user participation. Users who rent out their idle GPUs are rewarded RNDR tokens and those using the network for rendering services pay RNDR.

Best Solana Coin 8: Solend (SLND)

Solend’s SLND token is undoubtedly one of the best Solana tokens to watch out for in July. The appeal of this token goes beyond its price. Instead, it lies in the demand for Solend. Solend facilitates the chunk of borrowing and lending activities that take place on Solana.

Solend has over 80 supported assets and is backed by prominent partners. It has a present market capital of around 46 Million Dollars and the current price of SLND toke is around 1.15 dollars.

Best Solana Coin 9: The Graph

The Graph is a large cap penny crypto that offers powerful tools and resources to access blockchain data. It becomes easier to build DApps that require live data to run. The Graph operates on a decentralized network of nodes and ensures constant data availability. 

It is very important for blockchain apps to be able to access live and reliable real-world data. Each app can stake more GRT tokens to influence the priority and importance of its requests. The more people start using The Graph, the more valuable the token becomes.

Best Solana Coin 10: Metaplex (MPLX)

Metaplex makes it easier to create NFTs on Solana. The NFT space in the Solana ecosystem is significantly competitive. However, the technological features of Metaplex are one of its core advantages. 

Interestingly, Metaplex has raised more than 45 million dollars in fundraising, in addition to its strategic partnerships. This gives more power to its native token, MPLX. The present market capacity of MPLX is around 180 Million Dollars, while the live price is around 0.33 Dollars.

Conclusion

With the growth of the Solana ecosystem, investing in potential Solana coins like Solend, Metaplex, SOL, and others might give significant advantages. Solana’s high scalability and low fees make it subject to continuous growth.

If you are interested in investing in Solana coins, you can try out Mudrex. Download the Mudrex App from PlayStore to start adding coins from the Solana ecosystem to your portfolio.

FAQ

1. What is the best Solana Coin to buy Now?

The best Solana coin to invest in the present market scenario is SOL. Besides being a native crypto of the Solana blockchain, it is also an established cryptocurrency that offers long-term potential.

2. Which is the best Solana Memecoin in 2024?

Society is the best Solana Memecoin that traders can look out for to invest in July 2024. 

3. Which coin can become the next Solana?

With thousands of projects and tokens hovering in the Solana ecosystem, it is difficult to predict which coin might become the next Solana. But, any of the above mentioned coins have the potential to become the next Solana.