Solana is a crypto network that we all know is going to remain important in the future of the crypto world. Although the current market massacred all of our favorite cryptocurrencies, we have no doubt that they all will get to shine again. With a price of around $31.59 for last week, SOL is definitely a token many will see as on a “discount”. However, there are also many investors who’d like to know what Solana has in store for the future, especially its price prediction.
This is exactly what we will be covering in this article, including more information about the Solana ecosystem and network.
If you are new to the crypto space, we highly suggest checking out our dedicated article for crypto beginners. Once you read it, you will have a great foundation and an easier time navigating through the crypt space.
With that being said, let’s get right into it.
Over the past week, the price of Solana (SOL) remained around $31.59. The circulation supply of SOL is 349 million. The market cap went up to $11.04 billion.
Table of Contents
What is Solana?
Solana’s been a top performer during 2021 and is a direct competitor to Ethereum. Solana currently stands at #5 on the cryptocurrency market in terms of market cap.
The general public is interested in seeing how Solana’s unique technology will compare to those of Bitcoin and Ethereum in the near future. Of course, Solana is still a “rookie”, that got to bloom in 2021, so the volatility rates are still high. But what exactly is Solana, and how does it operate?
Solana is a Layer 1 blockchain, meaning it runs independently of other cryptocurrencies. Solana is the name of both the blockchain and the cryptocurrency. The Proof of Stake (PoS) blockchain was developed by Anatoly Yakovenko back in 2017 and also uses the innovative technology Proof of History (PoH). The project is open-source and is designed to host decentralized and scalable applications (dApps).
Additionally, Anatoly published the Solana whitepaper back in November of 2017, explaining Proof-Of-History (PoH) in great detail. Put simply, the PoH offers worldwide availability and is a permissionless source of time in the network that takes place before consensus. In other words, it is a sequence of computation, providing cryptographical ways to verify a passage of time between two instances of events.
This leads to many advantages that Solana has over other competitors such as Ethereum. Although, Anatoly Yakovenko publicly stated back in June 2021 that Solana is not aiming to be a direct competitor of Ethereum. Rather, he hopes to see many of these blockchains interrelated, forming a new “world” of possibilities.
Enough about that, let’s get into some Solana price predictions.
Can Solana (SOL) Reach $500?
Solana is a project that comes with a lot of utility. This is what many investors love about it. Owners are optimistic about the development of the network once the market stabilizes. That’s why so many believe the price will not only reach $500 but go beyond.
However, let’s think about it for a moment. The current price of Solana is around $36.67. This means it will need a 15.5x increase in order to reach a price evaluation of $500. With a current market cap of $10 billion, this will result in a new market cap of more than $155 billion.
Read Also: “Can Dogecoin Reach $1“
This is not so doable unless the circulation supply drops. That’s because, if that happens, it will place it right behind Ethereum, which, if we are honest, will probably not happen. This is why we believe Solana will not reach $500 so soon. If that happens, it will be more towards the end of the decade, once the crypto market expands.
First, we need to see market stabilization. This will happen after the military conflicts in Europe get resolved. Until then, the market will proceed to be chaotic and bearish.
So when is Solana going to reach $500? It will take at least 6 more years, or even 7 if we are being conservative.
SOL Price Prediction For 2022 – 2030
Solana’s future price is difficult to predict, as it is reliant on a number of factors, including the performance of the Solana network, global economic conditions, and the price of other cryptocurrencies. However, if Solana continues to grow as a network at its current rate, it is possible that the price evaluation for SOL could easily go back to $100 by the end of 2022.
This would represent a significant increase from its current price of around $36.67, but would still be way below its all-time high of $258.93, reached in November 2021. While Solana’s future price is impossible to predict with certainty, we are eager to share with you our analytical forecast.
Keep in mind that these are mainly speculations, although supported by facts and other somewhat solid factors. With that being said, let’s head on to the interesting part and see our Solana price predictions
Some of the financial industry’s top names have lent their weight to Solana’s price prognosis. The number of collaborations and events with the cryptocurrency sector demonstrates that many people are confident in cryptocurrency.
According to that and to Solana’s performance over the past year, it may achieve a tremendous boost by year’s end, unlike other significant coins like Bitcoin and ETH, and break through the $100 mark yet again, which will get it closer to its previous heights.
Of course, there’s the scenario that we experience further world conflicts that can affect the crypto market. In that case, we can expect SOL to drop in price. No one can say for sure how low it may go, but we can easily see it dropping to around $25-$30.
Many analysts have made Solana price predictions for 2023, and the general consensus is that the price of Solana will continue to rise. This is based on a number of factors, including the increasing use of Solana’s technology, the growing popularity of crypto, and the overall positive outlook for the global economy.
While it is impossible to say exactly what the price of Solana will be in 2023, most experts agree that it has the potential to reach new heights.
More realistically, we can expect the price of Solana to reach $117.50-$121.50 by the end of 2023.
If the growth for Solana continues, we can easily see it getting massive adoption. Our price prediction for 2024 is as conservative as possible, in order to not misguide you.
We believe that by the end of 2024, the price of Solana will reach at least $145. If we let ourselves be a bit more speculative, we’d raise it to $165, bringing it closer and closer to its previous peak.
According to many Solana enthusiasts and their price predictions, SOL prices may rise dramatically in the trading range between $182.13 and $194.16.
However, the most realistic expectation is for a midpoint of these price levels. With widespread adoption, SOL price prediction as a cheap and convenient digital asset might become a reality.
For this scenario, we must also consider that the Solana network can significantly expand and develop. In that case, prices may even go as high as $240, but that is quite ambitious.
As for a worse scenario, there are many things we cannot predict. Such is any global military, environmental, pandemic (looking at you COVID!), financial, and other similar issues.
But let’s explore what we have at hand. If a strong competitor arises, things can definitely go south for Solana. Another thing that can happen is if there’s any change in the network’s operation. This can include a change of CEO, developers, other team members, etc. If that happens, we can see the price of Solana dropping by 50-70%, meaning it will go for about $115-$120.
Keeping our conservative approach, we won’t try to make ridiculous price predictions for Solana. Although many believe that by 2026 the price of SOL will be at least $300, we’d give a different value.
2026 is actually not too far away, but in terms of crypto, it is. We believe that Solana will be evaluated at anywhere between $275.01 and $283.16.
As the years go by and Solana continues its expansion and proves its utility we can easily see it going for as much as $60. However, if we are being more realistic, the price might remain moving sideways, as that is a hefty growth.
By that, we mean that SOL will be evaluated at around $300.18 – $315.10. We think the lower spectrum of our price prediction will be more accurate than the higher. Yet, as we all know, the crypto market is quite unpredictable, so we will have to wait and see.
In 2028, if Solana comes out with new projects and experiences further adoption, we can see it potentially going out from the 50s and reaching a price of $370-$375. However, this is mostly optimistic.
On the lower end, we can see SOL being worth around $185.65, while on average remaining at around $351.95.
For the last year of the decade, we believe that cryptocurrencies will have settled in for the most part. By that, we mean that tokens will be nothing out of the ordinary anymore. Not only crypto but all sorts of crypto projects too – NFTs, dApps, etc.
As such, we think Solana will be moving at around $380 to $390 easily, although we can also see it reaching the $400 mark.
Crypto price predictions are always difficult, as the cryptocurrency market is highly volatile. Even more so when we are talking about 8 years into the future.
Some experts have forecast that Solana’s price could reach up to $500 by 2030. This would be a significant increase from its current price of around $30. However, it is important to remember that Solana is growing, and so is its adoption rate, utility, and potential.
In addition, the current global economic situation could also lead to an increase in the price of Solana, as more investors look to cryptocurrencies as a safe haven for their money. Only time will tell whether this price forecast comes true, but Solana certainly seems to have a bright future ahead.
That is unless we see global frames in which cryptocurrencies have to operate in the future. What we mean here is that countries could start incorporating restrictions. There already are some countries like Qatar, China, Turkey, etc.
If that happens, we can see many of the tokens we all love and know drop down by a lot. This might even mean the end of cryptocurrencies as we know them.
For Solana, if that happens, we can easily make a price forecast that SOL can drop in value by 90%. To be more specific, this might mean a price evaluation of less than $50. On a brighter note, this is highly unlikely, even though not impossible.
Our Opinion On Solana (SOL) Price Predictions
Given the Solana price today, we can make lots of speculations. However, when doing a price prediction or looking at one, you must stay completely aware that most of the time it is completely off.
Although we kept a strong conservative approach with our average forecast price, you should still take this prognosis with a grain of salt.
Solana is certainly a great project with huge potential, which makes us believe that it will survive throughout the years.
Overall, although we believe Solana will certainly be bullish and we believe in our speculations, we can never be certain.
Taking all of the above into consideration, it would appear that SOL is a very promising investment. The price predictions for SOL are exceptionally positive, and the coin does have a lot of potential.
Of course, as with any investment, there is no guarantee that SOL will reach the predicted price points. However, if you are looking to invest in cryptocurrency, SOL is definitely worth considering.
There aren’t too many unique projects that have been coming out these days. Most are looking to give solutions to problems that do not exist. Others are looking to create problems in order to give solutions to irrelevant sectors of the crypto market.
That is definitely not the case with Solana. The network will definitely keep growing and expanding its adoption. Even if the general public does not take better notice of Solana anytime soon, huge companies are already working hand in hand with Solana to better their operations.
We will keep an eye on the development of Solana and how it performs. Its potential in tandem with our price predictions makes us keen to see what lies in the future for Solana.
Similar Read: “Loopring Price Prediction”