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Market Cap
$4,417,403.0
Fully Diluted Valuation
$4,419,996.2
24 Hour Trading Vol
$2,102,192.0
Circulating Supply
28,297.0
Total Supply
28,297.0
Max Supply
∞
Wrapped Solana (Universal) Price
$156.20
24h Range
$149.96 - $157.20
Percent Change 1h
-0.6%
Percent Change 24h
3.28%
Percent Change 7d
10.74%
All-time high
$291.50
All-time low
$95.76
1D
7D
1M
1Y
All
Wrapped Solana (Universal) (USOL) is an innovative token that represents Solana (SOL) on various blockchain networks, particularly Ethereum. By wrapping SOL, users can leverage the liquidity and utility of Solana within the Ethereum ecosystem and other compatible platforms. USOL maintains a 1:1 peg to SOL, allowing users to trade, stake, or utilize their tokens without losing exposure to the original asset. This interoperability enhances the usability of SOL, as it can be integrated into decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other blockchain services that predominantly operate on Ethereum and similar blockchains.
Wrapped Solana (Universal) was developed by the Solana Foundation, which was founded by Anatoly Yakovenko, Greg Fitzgerald, and other key contributors in 2017. The Solana team is known for pioneering high-performance blockchain solutions that support decentralized applications and crypto projects. The wrapping mechanism itself is a product of collaborative efforts within the community, aimed at increasing the utility of SOL across multiple blockchain environments.
Wrapped Solana (USOL) operates through a locking and minting process. When a user wants to wrap their SOL, they send the SOL tokens to a smart contract that locks them. In return, the smart contract mints an equivalent amount of USOL on the target blockchain, ensuring that the total supply remains consistent. The process can be reversed, allowing users to unwrap their USOL back to SOL by burning the USOL tokens and releasing the locked SOL. This mechanism ensures transparency and security, as the wrapped tokens are fully backed by the original asset held in the smart contract.
The technical foundation for USOL involves using ERC-20 standards on Ethereum or similar protocols on other blockchains. The smart contracts are designed to maintain the peg and provide real-time tracking of the locked SOL, ensuring users can verify the backing of their wrapped tokens.
Wrapped Solana (USOL) has several prominent use cases, including:
To ensure the safety of your Wrapped Solana (USOL), consider the following best practices:
Investing in Wrapped Solana (Universal) (USOL) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy Wrapped Solana (Universal): Once your account is funded, you can purchase Wrapped Solana (Universal) directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Wrapped Solana (Universal) using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
Wrapped Solana (Universal) (USOL) is currently trading at $156.20 and exhibits good potential for future growth. Check the latest Wrapped Solana (Universal) (USOL) price prediction.
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The content, portfolios, and insights presented on this platform are provided for informational purposes only and do not constitute financial, investment, or trading advice. Kribx Inc. and its affiliated influencers are not registered investment advisors or broker-dealers. Cryptocurrency trading involves substantial risk and may result in the loss of capital. Users are solely responsible for their trading decisions. Past performance is not indicative of future results.
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