Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its “web-scale” platform. The issuance of the currency, called SOL, is capped at 480 million coins. Market Cap as an Investment Tool While it's been more than a decade since the introduction of cryptocurrencies and the disruptive technology that enables them, cryptocurrencies and the broader ecosystem remain a relatively small segment of the financial market. As of August 2022, the total market capitalization of cryptocurrencies stood at $1.1 trillion (down from its all-time high of $3 trillion), or about 2.5% of the U.S. equity market capitalization. Nevertheless, we believe that crypto assets and blockchain technology are here to stay.
For the first time since early November, the total market capitalization of the cryptocurrency industry exceeded $1 trillion, according to data from CoinGecko. Exchange Token Market Cap & Dominance As always with cryptocurrencies, we recommend to do thorough research before investing and consider all vital factors involved. For instance, market cap as a metric doesn’t say much about actual trading volumes over the last couple of hours. Therefore it makes sense to also check Coinmarketcap for the 24-hour trading volume that a cryptocurrency has on different exchanges over a reasonable period and other essential criteria before investing.