Intelligence firm Messari has released the results of its latest operational Nakamoto coefficient calculations. The firm’s calculations show that Solana is the most resilient Blockchain network. Avalalanche (AVAX) and Aptos (APT) also draw attention in Messari’s list. Meanwhile, SOL’s price has dropped about 8 percent over the past 7 days.
The most resilient Blockchains: SOL, AVAX, ADA, NEAR and APT
Market intelligence firm Messari stated in a tweet that Solana (SOL) is one of the most resilient networks. According to the tweet, the firm calculated that the Solana network has an operational Nakamoto coefficient of 1.9. Messari also revealed the operational Nakamoto coefficients for Avalanche (AVAX), Cardano (ADA), Near Protocol (NEAR) and Aptos (APT) in his tweet. Messari underlined that all these nets are less resilient than Solana.
To assess network resilience, we computed operational Nakamoto coefficients for @avax, @Cardano, @NEARProtocol, @Solana, and@Aptos_Network.@avax and @NEARProtocol score 1.3, @Cardano and @Aptos_Network score 1.6, and @Solana slightly surpasses others with a score of 1.9. pic.twitter.com/at8C5mySmJ
— Messari (@MessariCrypto) June 8, 2023
In another tweet, Messari stated that the ratio of staked SOL to circulating SOL is 71%. According to the post, 392 million SOLs of the 396 million SOL tokens in circulation have been staked. As a result, SOL ranked second behind APT in this regard with 85% stake.
SOL’s price performance
At press time, the price of SOL is down about 8% on a weekly basis, according to CoinMarketCap. Currently, the price of the altcoin is at $18.46. This marks a significant drop from the daily high of $20.20. Meanwhile, the crypto’s 24-hour low was $18.29. SOL’s recent price drop pushed its monthly performance even further in the red at 7.94%.
Price of SOL / Source: CoinMarketCapDaily trading volume also fell just over 8%. As a result, the total 24-hour trading volume for SOL was $400,567,153 at press time. In addition to weakening against the dollar in the past 24 hours, SOL has also outperformed the two market leaders, Bitcoin (BTC) and Ethereum (ETH). At press time, SOL lost 6.63% against BTC and 6.30% against the largest altcoin by market cap. This meant that 1 SOL was worth 0.0007008 BTC and 0.01005 ETH.
Solana Foundation: SOL is not a ‘securities’
cryptocoin.com Solana Blockchain’s native token SOL was declared an unregistered security this week in lawsuits filed by the US Securities and Exchange Commission (SEC) against crypto exchanges Binance.US and Coinbase. The Solana Foundation objects to the SEC’s classification of the SOL token as an unregistered security. The Solana Foundation underlines the following in its statement:
The Solana Foundation strongly believes that SOL is not a security. SOL is the native token of Solana Blockchain, a robust, open-source, community-based software project that relies on decentralized user and developer participation to expand and evolve.
