As the cryptocurrency market grows, Solana has become a favorite for crypto investors, with its inflows surpassing $50 million last month. Better still, the cryptocurrency has found its way into the top ten digital assets list. The token dethroned Cardano and currently ranks number 5 on the market. Most of the analysts present a bullish forecasted Solana price.
The latest Solana price analysis reveals the market following a bearish trend with bullish opportunities. The cryptocurrency might reach $190 before the New Year if they are availed. The SOL/USD price has suffered a massive decline in the past few days.
On December 27, 2021, the price followed a somewhat bullish trend, and the price went from $197 to $204 just before declining significantly the next to $177. On December 29, 2021, the price fell even further to $170 but gradually increased to $176, which is the current price of Solana.
This Solana (SOL) price prediction will look at what analysts predict for the Solana price in the coming months and years.
What is Solana?
Solana blockchain (also commonly referred to as Solana protocol) was introduced to compete with the Ethereum blockchain, which brought the current revolution, especially with its smart contract technology that has to go ahead to enable the inventions of decentralized finance (DeFi), Non-Fungible Tokens (NFTs), decentralized applications (DApps), and all the other concepts like yield farming, liquidity mining, staking, etc., that accompany these inventions.
Today Solana is fulfilling its purpose as more and more people continue adopting cryptocurrency. Its native token SOL is now priced at about $218, 43203.94%, up from its initial price at launch.
The blockchain revolution assured investors of digital coins that would offer privacy and confidentiality through the sturdy cryptographic algorithm that makes sure that even if transactions are recorded in the public blockchain network, the identity of the sender and the receiver is always hidden behind some addresses.
To that end, Solana is considered one of the most effective, secure, fast, and censor-resistant blockchains worldwide. It offers an open-source infrastructure making it easy for global adoption.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|SOL||$ 140.14||$ 43.68 B||2.91%||311.78 M||$ 1.40 B|
Solana (SOL) coin price history and recent performance
In 2021, Solana (SOL) token has become the fastest-growing cryptocurrency and is currently ranked at position five with a live market cap of $66.4 billion. It has overtaken the likes of the once-popular Dogecoin, DAI, DASH, Polkadot, VeChain, Eos, and many others. It is closely behind Binance Coin (BNB) and Tether (USDT).
This year (2021), the price of Solana (SOL) has appreciated by more than 43% in October to currently trade at $217.19 compared to $25.72, which was its price on January 1, 2021.
Solana crypto prices hit an all-time high of $260.06 on November 6, 2021.
Despite Bitcoin battling huge price swings throughout the year, Solana has maintained a bullish trend.
The inventors who find it hard to jump onto the Ethereum bandwagon due to the relatively more expensive ETH token are trying with the SOL token. And they have found it highly rosy in the last months.
Just like Ethereum, Solana is also involved with DeFi and NFT, which are currently the most sought-after services within the crypto space. Onee should no longer wonder about Solana’s increasing adoption worldwide for this significant reason.
Currently, all eyes are on the Support at $124.720 since it has already gone below the pivot level at $138.675.
As we shall see in the coin price forecast, most analysts believe that the SOL is correcting the recent price surge before setting off the moon again.
While the demand for Bitcoin (BTC) and Ethereum (ETH) has flattened, the market for Solana (SOL) is on the increase.
Solana price prediction by WalletInvestor
In this post, we shall look at Solana price forecasts by various cryptocurrency experts. Although they give an outlook of what to expect, they do not deter the cryptocurrency from soaring higher and outperforming its rivals.
Solana price prediction by TradingBeasts
2022 is viewed as the turnaround year for Solana. It is expected to have finished correcting the current price crash by then to set out for yet another bullish trend similar to the one witnessed in the better part of 2021.
Besides correcting the price crash, several partnerships, alliances, and community funding have taken place with Solana, and these are expected to propel the cryptocurrency into a bullish course pretty soon.
TradingBeasts forecasts that the SOL price will close in 2022 at about $230.533 or somewhere between a maximum price of $288.166 and $195.953.
Although the above price predictions are different from those of other analysts like Walletinvestor, who predicts that Solana shall close 2022 at about $751.5, the fact of the matter is that all the analysts agree that the price of SOL token will increase. The question is, by how much?
Solana price forecast 2023
With the established features of being a fast and reliable blockchain network and the Support for NFTs and DeFi, the future of cryptocurrencies, Solana is expected to continue with its bullish trend into 2023.
If the drive for NFTs and functional cryptocurrencies continues, Solana’s price will likely close well above $200 in 2023.
TradingBeasts forecasts that the price will close in 2023 at about $249.298 or somewhere between $366.615 and $293.292.
Other analysts like Walletinvestor predict that the cryptocurrency shall close in 2023 at a maximum price of about $1577.710.
Solana price prediction 2024
Several SOL market speculations are based mainly on projections from previous technological advancements and announcements. Solana’s security and scalability features are far more than those of most cryptocurrencies. For example, a crypto enthusiast will find a transaction in Solana to be faster than that on Bitcoin or Ethereum.
Next are the exciting promotional ventures offered by Solana, attracting investors because of the gains they shall make by investing with the cryptocurrency.
Most analysts agree that if all factors remain constant by the end of 2024, Solana’s price shall be comfortably trading above $400.
Trading Beasts, for example, forecast that by December 2024, the cryptocurrency shall be trading at a max price of $441.863.
Other analysts predict that the cryptocurrency will be trading way higher than $200 by the end of 2024. Walletinvestor, for example, indicates that Solana shall be trading at a max of $2298.750 in December 2024.
Solana price prediction 2025
The future of cryptocurrencies is still unknown due to the ever-changing regulatory environment as governments find ways of regulating the industry, and Solana is not immune. However, just like Ethereum blockchain, which offers much more functionalities than just being a mode of processing payments, Solana has its chances of surviving even in the harshest of environments.
2025 could be a make or break year for most cryptocurrencies, and if factors remain constant, the price of Solana is expected to continue with its steady rise. Wallet Investor, for example, forecasts that the SOL price shall be trading between $3046.040 and $1670.350 in 2025.
The above Solana price prediction sheds some light on what to expect with the price of SOL in the coming years. However, if you want to invest in Solana, you should consider seeking some investment advice to find out whether Solana is a good investment for you or not and at the same time be advised on how much you should invest.
If you are a trader, you will require some fundamental Solana price analysis and technical analysis of the crypto market to accurately speculate the price action concerning the resistance level, past price, trading volume, and average Solana price (average trading price).
We made the above price prediction against the US dollar. The Solana price predictions are best suited for an investor looking to invest in Solana’s SOL (the SOL crypto) for purposes of holding or using the token within the Solana network (Solana ecosystem).
Therefore, the Solana forecast (Solana prediction) can be conducive to investors, including institutional investors.
FAQs about Solana
Where to buy Solana Crypto?
Where can I store my Solana coins?
Once you purchase SOL coins, you should store them in a secure place. Most of the exchanges where you can buy SOL offer in-built crypto exchange wallets. Other wallets that allow storage of SOL coins include the atomic wallet and Ledger hardware wallet.
Will Solana Price Crash in the future?
The price of Solana cryptocurrency crashed at the beginning of September 2021 due to a network outage, something that is extremely rare are most likely will never happen again in the future.
Is Solana a Scam or Legit?
Solana is a legit blockchain network, just like other blockchains like Ethereum. As a result, the native token, the Solana coin, which is commonly referred to as SOL coin, is a legit cryptocurrency.
What blockchain projects are on Solana?
Solana has smart contracts functionality, and a blockchain developer can develop and deploy a decentralized application (DApp) on the blockchain. Several blockchain projects have been launched on Solana, and they have also contributed to Solana’s fortunes. these blockchain projects include:
- Solana Beach — a Solana blockchain explorer.
- UPFI — a stablecoin.
- Phantasia — a fantasy sports platform.
- HydraSwap — a DEX.
- CropperFinance — a yield farming service.
What do I have to know about the Solana network?
The main thing about the Solana network is an innovative blockchain system. The main aims of this system are security and decentralization. Sol token has also soared and added significant gains to its bag in this situation.
What is the mission of the Solana project?
Solana Blockchain aims to make the situation convenient for decentralized apps and democratize the global financial setup. It provides a high-speed blockchain system that facilitates speedy transactions and secure communication.
What is proof-of-history in Solana?
Proof-of-history in Solana is derived from Proof-of-Stake. It is one of the innovative additions to the Solana blockchain that relays more on time based on the happening of a specific action. Using this protocol, Solana makes it possible to keep the historical record for the transaction.