Solana Closes $314 Million Round led by a16z and Polychain Capital
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Blockchain ecosystem Solana has attracted over $314 million in a private investment round led by Andreessen Horowitz (a16z) and Polychain Capital, The Wall Street Journal reports, citing Solana Labs, the developer of the blockchain ecosystem. The investment round also included CoinShares, Alameda Research, Multicoin Capital and others. In total, Solana Labs raised $314,159,265 via private token sale.

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Currently, Solana can process over 50,000 tps. For example, Ethereum handles 14 tps, while Bitcoin can process only ~2.8 tps. However, Solana Labs says it can increase the blockchain's capacity with the latest funding round. Alameda Research CEO, Sam Bankman-Fried, says Solana has "the most ambitious tech road map of any blockchain."

"It is a blockchain that has the potential to support a DeFi ecosystem with world-scale activity," the Alameda Research CEO added.

USD Coin Adds Support for Solana Blockchain

Solana's latest investment round comes after US-based cryptocurrency exchange Coinbase listed the ecosystem's native token SOL. Coinbase's users can trade SOL with the following pairs: SOL-USD, SOL-BTC, SOL-EUR, SOL-GBP, and SOL-USDT. As of press time, SOL is up over 20% and is trading at the $42.8 mark.

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