- Solana is now the third cryptocurrency tracked by the Bloomberg terminal, following bitcoin and ethereum.
- The cryptocurrency has been touted as the "ethereum killer" for its potential for mass adoption.
- Solana is the fourth-largest cryptocurrency by market capitalization.
Solana is now the third cryptocurrency to be tracked by the Bloomberg terminal, following in the footsteps of bitcoin and ethereum.
The price tracker, titled "Bloomberg Galaxy Solana Index," went live on the terminal Monday as "the first institutional grade pricing source for Solana," wrote Tim Grant, the head of Europe at Galaxy Digital, which partnered with Bloomberg to list the new crypto. Bloomberg did not immediately respond to Insider's request for comment.
Solana is the fourth-largest cryptocurrency by market cap, behind bitcoin, ethereum, and binance coin, according to CoinMarketCap data.
The addition comes amid Solana's epic year in which it has gained about 1,300% so far, according to the Bloomberg tracker, with much of those gains coming in the last few months alone.
Solana has become a popular coin among those who believe it could overtake ethereum someday as the go-to for smart contracts. For example, Sam Bankman-Fried, the head of crypto exchange FTX, has said solana has the capacity for mass adoption as it can run more transactions per second with fewer fees than ethereum.
And earlier this month, the head of product at Blockasset.co, an NFT marketplace built on the solana network, told Insider that the number of decentralized finance applications and non-fungible tokens using solana has been "the ultimate source of boosted demand" for the coin.
Play-to-earn games have also been a source for solana hype.