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The outgoing week was not very rich in high-profile events in the cryptocurrency industry. Quotes of the leading digital coins and tokens remained fairly stable. Among the top 10 virtual assets, only Ripple (XRP) and Dogecoin (DOGE) gained 12.5% in value. However, one cryptocurrency made its debut in the list of the top 100. It was about Solar (SXP).
Its rate has increased by 161% over the past 7 days, as of 11:12 Moscow time on April 2, 2023. Thanks to the fact that its quotes jumped by 14.5% over the past day, it managed to break into the list of the best and settle in the 100th line of the rating with a total supply of $387.86 million. The price of the SXP token was $0.692. Trading volumes for the past week were $4.13 billion.
SXP is the utility token of the Solar blockchain. Users can stake, which helps to ensure the security of the network. For this they receive awards. Also, with the help of this crypto asset, you can pay a commission for transactions on the network. Among other things, token ownership gives you the right to vote on updates to the protocol.
This crypto project was founded in 2018. Solar Blockchain Foundation was founded 3 years later and registered in Estonia. Solar is a first-level blockchain that operates using a delegated proof of stake (DPoS) consensus algorithm. The network is supported by over 50 delegates or validators.
Solar – Invented as an enterprise-grade blockchain based on open source developments with community participation. Its main goal is to form an honest management ecosystem. Programmers creating decentralized applications use smart contracts, cloud storage, and numerous other Solar Core tools.
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