Solana is not exactly a new cryptocurrency, but it has only gained traction and widespread popularity in the last few…
Solana is not exactly a new cryptocurrency, but it has only gained traction and widespread popularity in the last few months. Its astronomical rise upwards has attracted the attention of many investors, helping them to discover the project’s high usability and incredible functionality.
With so many people jumping in on the Solana hype, many are left wondering whether the coin is a good long-term investment or if they should dump whatever coins they have bought before it plunges deeper than it has already.
Unfortunately, we cannot give you financial advice and won’t be able to tell you what to do with your coins – that is something you should decide for yourself. However, Solana is a really interesting project, and we wanted to take a look at what potential it may have in the near future.
Without further ado, let’s take a look at our Solana price prediction!
Solana is a highly effective, fast, censorship-resistant, and incredibly secure blockchain. It utilizes blockchain technology’s permissionless nature to provide efficient DeFi (decentralized finance) solutions.
Although the initial work on the project began in 2017, and it was launched back in March 2020, it was only noticed and found acclaim in 2021. The coin quickly climbed up the market cap rankings, going from position 42 in February 2021 to rank 7 in September of the same year. How did its price rise so fast?
Solana has excellent fundamentals and is an incredibly efficient coin, but the catalyst that catapulted SOL price to the moon is an NFT project called the “Degenerate Ape Academy”. Launched in mid-August on the Solana blockchain, this project sold over 10,000 “smoothest brain” apes in a matter of minutes. In contrast to the highly popular NFT launches on Ethereum, the minting of the Apes went very smoothly: no congested network, no inflated transaction fees – everything was (comparatively) in order.
As a result, many people who have previously never heard of this innovative project noticed Solana and the benefits it provides. This led to a month-long price spike.
Solana uses a brand-new consensus mechanism called proof-of-history, which allows the network to be extremely fast and effective.
Solana does everything Ethereum 2.0 promises to be able to do, but 20 times faster. It offers a throughput of 50 thousand transactions per second at layer one, and has the scalability to go up to a million. In addition to this, Solana has basically no transaction fees.
The Solana network has over 500 nodes, making it much more decentralized than blockchains like Ripple or Stellar that have fewer validator nodes. The only requirement to make a node on Solana is having 3-4 thousand USD worth of hardware, which may seem like a lot, but is a low entry barrier when you compare it to other cryptocurrencies. This, in addition to its block time of only 0.4 seconds, gives Solana the potential to become one of the best decentralized blockchain platforms in the industry.
Solana (SOL) price only started rising back in February, when the whole crypto market was mooning. Unlike other cryptocurrencies, however, Solana price didn’t feel the crash in late spring of 2021 as strongly as Bitcoin or Ethereum, although its price did decline.
After a rather slow and uneventful June and July, Solana price shot up in mid-August and continued to rise until mid-September. The cryptocurrency seems to be going through a correction at the moment as SOL price has been in a slow decline over the past few days.
Solana has an All-Time High of $214.96 and its current price (at the time of writing this article) is $140.69.
Now that we’ve talked about the project and the coin’s price history, let’s take a look at our actual Solana price forecast.
As we have mentioned previously, Solana seems to be going through a correction phase right now. It is hard to say how hard this correction will hit the coin, whether its current price will be its lowest point in 2021 and if it will be able to recover afterwards and continue its climb upwards. However, we can still make some tentative price predictions.
Solana (SOL) price may possibly hit $300 by the end of the year if a bullish trend were to resurface. Alternatively, if the attention it has grabbed turns out to not be enough, and its holders get affected by FOMO, SOL owners might sell off their remaining coins to try and get some profit, plummeting the price of this cryptocurrency into the ground. However, unlike the usual pump-and-dump altcoins, Solana has not only the hype but also genuine interest in its functionality to back it up.
As per our Solana price forecast, the coin has a chance to shoot for the moon again in October. It may retake its ATH of $214 and even surpass it, going up as high as $300.
We don’t think Solana (SOL) price has a chance to stay at the top for a long time at this moment in time. It is possible that the cryptocurrency will be on the rollercoaster in November, going up and down as investors rush to buy in and then sell off their coins.
Our Solana price forecast for November 2021 is an average of $130.
If crypto picks up momentum and the cryptocurrency market turns overwhelmingly green again, Solana will benefit from it greatly. However, it is not wise to rely on luck and the unreliable nature of the crypto market when making investment decisions. As per our Solana price forecast, the cryptocurrency might stay in the $100-130 range in December 2021.
2022 is when things can get a little more interesting. Solana price may become less volatile by the beginning of next year, and if it manages to stay above the $100 mark, we may see considerable growth of SOL price in 2022.
According to our Solana (SOL) price prediction, the cryptocurrency will stay in the $200 range in 2022, and may possibly go up to as far as $400.
If the upward trend continues and Solana doesn’t get dumped, we may see it reach $450 in 2023. However, when it comes to crypto, it’s better to be cautious. Our Solana price forecast estimates that SOL price will hover around the $300 mark in 2023.
If things go well, the price of Solana can hit $500 in 2025. That will strengthen its market position and firmly make it one of the top assets in the crypto world.
According to our Solana (SOL) price prediction, the coin may breach the $600 mark in 2026.
It is hard to make long-term crypto price predictions as the cryptocurrency market is highly volatile. However, we can make some wild guesses and estimates.
There is a possibility that the entire crypto industry will crash by 2030 due to strict regulations or a more innovative competitor coming to overtake blockchain and cryptocurrencies. However, that possibility is as much of a wild guess as that Bitcoin will oust USD and become the official currency of the United States.
Our Solana price forecast for 2030 is this: if the coin proves its worth and continues to be one of the top cryptocurrencies on the market, it can go up to as high as $3000 in 2030.
Experts seem to have wildly different opinions on the future of Solana and SOL price.
Coin Price Forecast has perhaps the wildest bullish predictions, expecting Solana to have a return of +2,500% by the end of 2025. They predict that Solana price will storm the $1000 mark at the beginning of 2023. Additionally, they think that $5000 is a very real possibility for Solana in the next 10 years.
On the other hand, David Cox, an expert at CryptoNewsZ, has a bearish outlook. According to his Solana technical analysis, the coin will hardly be able to stay at the $100 mark, and is likely to drop below it in 2022 and beyond.
Same goes for Redditors, who don’t believe that the price of Solana has the capabilities to stay above $100. However, they (and other experts) do point out that everything will depend on how the public reacts to Solana and whether the current interest is just hype- and profit-infused, or is genuine belief in the capabilities of the Solana network.
Here’s an overview of our Solana forecast.
|2030||Anywhere from $0.01 to $3,000|
Is a high risk, high reward type of asset a good fit for your investment portfolio? If so, then Solana may be the cryptocurrency you were looking for. Unlike many other fast-growing coins or tokens, Solana is recognised and praised by the crypto community for its technical superiority and efficiency, which gives the coin a good chance to stay afloat and keep growing in the future.
Solana is as fast as some centralized systems, making it highly future-proof. It has the potential to become the catalyst that will convince people to switch from centralized systems to decentralized ones. Essentially, Solana combines the usability of mainstream centralized platforms with the incredible security of decentralized ones.
If our Solana forecast is to come true, as well as the Solana price prediction (2021 and beyond) made by the experts and SOL investors at Coin Price Forecast, then the future price of this cryptocurrency may rise astronomically, making it a very profitable investment. Even if Solana doesn’t shoot for the moon, there’s still a chance it can become a good investment as long as it doesn’t crash. However, if it does crash, you will still be able to make some profit by short selling Solana.
Keep in mind that all crypto price predictions, including our Solana forecast, are not fully reliable due to the volatile nature of the cryptocurrency market and should not be seen as investment advice. Please do your own research before investing into any digital asset.
You can buy and sell Solana coins on many popular crypto exchanges like Binance, Kraken, and so on. If you want to purchase Solana (SOL) instantly with your credit card (Visa, Mastercard), bank transfer, or Apple Pay – Changelly is always at your service!
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.