Market cap uses circulating supply (≈586.5 million SOL). Solana has no fixed maximum supply, but total supply (≈633.9 million, including staked and locked tokens) gives a fully diluted valuation of roughly $63–65 billion.
Solana's market capitalization is calculated with a simple formula:
Applied to current data:
Solana has no hard supply cap. New SOL is issued through staking rewards on a disinflationary schedule, and roughly half of each transaction's base fee is burned rather than paid to validators (Solana's official fee documentation).
On 28 August 2026, Solana's validator community approved SIMD-0411 (“Double Disinflation”) with 67% support, doubling the rate at which annual issuance shrinks from 15% a year to 30% a year. Under the new schedule, issuance reaches its long-term floor of 1.5% a year by 2029, several years earlier than the previous 2032 target, cutting projected cumulative issuance by an estimated 19–22 million SOL over six years (GitHub proposal; Decrypt).
|
Year |
Approx. price, $ |
Note |
|---|---|---|
|
2020 |
≈1.50 |
Mainnet launch |
|
2021 |
≈260 (Nov peak) |
NFT/DeFi boom |
|
2022 |
≈8 |
Collapse following FTX/Alameda failure (a major SOL holder) |
|
2023 |
≈100 |
Recovery, helped by a Visa settlement pilot |
|
2024 |
≈190 |
Continued network growth |
|
2025 |
293–295 (Jan peak) |
All-time high after a surge in memecoin activity on Solana |
|
Sept 2026 |
≈99–103 |
≈65% below the January 2025 record |
Source: year-end/notable prices compiled from CoinMarketCap and CoinGecko. Past changes don't indicate future performance.
Solana's 2022 decline was tied to the collapse of FTX and Alameda Research, which held a large SOL position, taking the network's market cap from roughly $50 billion down to around $3 billion. The 2025 record followed intense retail trading activity in memecoins launched on Solana's network, a historical fact rather than an indicator of future activity.
|
Asset |
Market cap |
Relative to Solana |
|---|---|---|
|
Bitcoin |
≈$1.54tn |
≈2,610% |
|
Ethereum |
≈$301bn |
≈510% |
|
All cryptocurrencies (total market) |
≈$2.62tn |
≈4,440% |
|
Solana |
≈$59bn |
100% |
Source: CoinMarketCap and CoinGecko Global Charts, September 2026.
Solana accounts for roughly 2.2% of the total crypto market's value, about a 26th of bitcoin's market cap and a fifth of ethereum's.
About $59 billion in September 2026, based on a circulating supply of roughly 586.5 million SOL at about $100 per coin, ranking around 7th among all cryptocurrencies.
No fixed cap. New SOL is issued through staking rewards on a disinflationary schedule, currently transitioning to a faster taper under a 2026 protocol change (SIMD-0411), while roughly half of each transaction's base fee is burned.
Around $293–295, reached in January 2025 amid a surge of memecoin trading activity on Solana's network. The price was roughly 65% below that record as of September 2026.
Solana was closely associated with FTX and Alameda Research, which held a significant SOL position; when both collapsed in November 2022, Solana's market cap fell from roughly $50 billion to around $3 billion.
Bitcoin's market cap (≈$1.54tn) is about 26 times Solana's; ethereum's (≈$301bn) is about 5 times Solana's. Solana accounts for roughly 2.2% of the total crypto market.
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