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Solana $SOL/USD is a decentralized platform that leverages the $SOL token to pay for transactions.
Solana has the main goal of improving blockchain scalability through the usage of a combination of proof-of-stake (PoS) and Proof-of-History (PoH).
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Metaplex is the Solana-powered on-chain protocol that mints and auctions NFTs.
The FTX.US $NFT marketplace integration as a catalyst for growth
On September 6, we made predictions of the future of the FTX.US exchange token before the launch of the $NFT marketplace.
FTX.US’s $NFT marketplace has expanded to support the Solana Blockchain.
As a result of this, any Solana user can now trade, deposit, and withdraw non-fungible tokens (NFTs) that take advantage of the Metaplex token standard.
This announcement occurred on October 11, revealing that the marketplace has plans to implement Ethereum-based tokens in the near future.
This is a marketplace that is open to both U.S. as well as non-U.S. customers from a long list of jurisdictions.
Keep in mind that residents in New York can still not sign up or join the platform. However, users can even bid on $NFT’s through bank transfers, wire transfers, and credit card transactions alongside supporting crypto assets.
The pricing for newly minted NFTs is listed in USD, $SOL, and Ether. That said, FTX charges a 2% fee on all $NFT sales; however, it does not charge a listing fee.
Should you invest in Solana ($SOL)?
On October 12, the Solana ($SOL) token had a value of $144.44.
To get a better perspective as to exactly what kind of value point this is for the token, we will be comparing it to its all-time high value as well as its performance last month.
In terms of last month’s performance, the lowest point of value for the $SOL token was on September 1, when it dropped to $108.48.
The all-time high value of the token occurred on September 9, where it got up to $213.47.
We can see that on September 9, the token was $69.03, or 47% higher than it was on October 12.
Additionally, we can see that from September 1 to September 9, the token saw a price increase of $104.99 or 96%.
With all of this in mind, and with the Solana implementation on FTX.US, we can expect the $SOL token to reach a value of $168.99 by the end of October.
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