Solana Token Pricing Questions

[Crypt0Kiddy]

Hi Koinly Support,
I have noticed a few of the meme tokens I hold on Solana have no pricing info for the purchase history reflected in Koinly, and while I have taken steps to add that manually, I have a few questions surrounding Solana token pricing:

1. What source does Koinly use for retrieving the price of Solana tokens?

2. What threshold(s) must be met for that token to be priced? Is it simply a function of being listed by the source above, or does it have to meet a threshold for age on market, price, market cap, etc?

3. When/if a token begins to receive pricing info in Koinly, does that pricing info apply retroactively to historical transactions to update cost basis? For instance, I hold some $CWIF that I received back in Feb 2024, but pricing info for this coin was not added in Koinly until probably May 2024. I had already manually added my cost basis, so I am curious if Koinly will add the cost basis to historical txns when a coin is later “listed”?

4. What source(s) does Koinly use to determine if a token is spam/scam and flag it as such?

Thanks for the info!

[Carl_Koinly]

Hi @Crypt0Kiddy

Thanks for your message.

1. Currently, prices for all tokens are retrieved from CoinMarketCap or CoinGecko. If they are listed on one of those sites, Koinly can fetch a price.

2. There is no threshold, they just need to be listed.

3. Historical prices can be added to older transactions by deleting them and doing a ‘Resync from beginning’. See this article - https://support.koinly.io/en/articles/9490049-how-to-re-import-tokens-after-an-update

4. Koinly will usually tag a token as spam/scam if it picks this up from the blockchain info. If you have tokens in your account that are spam/scam but are still imported, you can tag them yourself (click the 3 dots on the transactions → Mark as spam). If you have a token that you believe is tagged as spam but shouldn’t be, let us know and we can look at untagging it.

I hope that helps! Please let me know if you have any other questions or need help with anything else.

[Crypt0Kiddy]

Thanks for the response @Carl_Koinly
The Solana coin I am asking about IS listed on CG but NOT CMC, and it also happens to be a Token 2022 program token. I wonder if that is why I have not seen pricing reflected in Koinly yet. It also listed less than 30 days ago, so that could also factor in.
I will keep watch for pricing and write back if it does not materialize in Koinly.

[Carl_Koinly]

Hey @Crypt0Kiddy

Thanks for getting back to me.

If the token was only added to CG 30 days ago, Koinly won’t be able to import the prices any earlier than this as the data isn’t available.

You can add the missing prices manually for any acquisitions of the token though, check the article below for how to do that:

Market prices for XYZ are missing | Koinly Help Center

[Crypt0Kiddy]

That makes sense. I figured there was some sort of threshold on age, which is why other meme coins started to show up with pricing info. There are so many these days

[Crypt0Kiddy]

Hi Carl,
After several weeks, I am still not seeing pricing information on a SOL coin I hold, even though it has been listed on CoinGecko since June 4th and based on our thread above, should meet all the criteria for pricing in Koinly.

Would you be willing to have a look at this coin to see why pricing info is still not available in Koinly?

https://www.coingecko.com/en/coins/scales

I have a suspicion that it has something to do with the fact that CG does not have a value for Market Capitalization and therefore shows up as Unranked in Koinly. Can you confirm this behavior?

CG Market Info:

Koinly Coin info:

[Aria_Koinly]

Hi @Crypt0Kiddy

I just asked our Currency team to add SCALES to our database.

[Aria_Koinly]

Hi @Crypt0Kiddy

I was informed that the token has been added. Follow the guide below to re-import it:

How to re-import transactions after an API update

Alternatively, you can use the Currency Change feature to fix this.