Solana price prediction – wondering which coin is one of the top performers in 2021, with the potential to replace Bitcoin and Ethereum? Forget about meme coins and old players! Solana (SOL) is here to bring DeFi closer to us, the common folk.
With an increase of 17,500% in 2021 and a market cap of over $68 billion at the time of writing, SOL is one of the Top 10 cryptocurrencies out there. Many believe that SOL will hit $300 before 2023. And we totally agree with such price forecasts, proving we are witnessing the rise of SOL!
Given the increasing number of DeFi, gaming projects and NFTs supported by Solana and its solid development team, more and more institutions and retail investors are also taking an interest in SOL as an investment. Leader Grayscale Investments announced its Grayscale Solana Trust earlier this week (November 2, 2021), offering investors access to the crypto ecosystem.
In the face of an energy crisis, let’s not forget Solana is less energy consuming than most cryptocurrencies, claiming transactions require less energy even than Google searches.
So will Solana prices continue to rise between 2022 and 2030? Learn more about it here.
Latest News Affecting Solana’s Price Forecasts
Table of Contents
- Latest News Affecting Solana’s Price Forecasts
- Solana Price Prediction | People Also Ask
- How Much Is Solana Worth in 2022?
- How Much Can Solana Reach in the Next Five Years?
- Can Solana Overtake Ethereum?
- Is Solana the Best Blockchain?
- Is Solana a Good Investment?
- Will Solana Price Crash?
- Solana’s Historical Data and Technical Analysis 2020-2021
- Solana Price Prediction 2021-2022
- Solana Price Prediction 2023
- Solana Price Prediction 2024
- Solana Price Prediction 2025
- Solana Price Predictions in the Long Term
- The Fundamentals of Solana
- What Is Solana?
- Solana’s Story
- What Makes Solana (SOL) Unique?
- What Is SOL?
- Is Solana a Profitable Investment?
It was a few days ago when Solana experienced a new rise of 9%. Why? Simply because of the latest news around it! As mentioned above, Grayscale Investments announced their Grayscale Solana Trust to help more investors access SOL and the crypto space, providing cheaper services and less risky investment options via periodic private placements.
As Michael Sonnenshein said, “For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem… We have had a front-row seat to the mainstream acceptance and adoption of crypto, and increasingly find that investors are diversifying their exposure beyond digital assets like Bitcoin and Ethereum.”
Other important partnerships are those with organisations in the gaming industry. In November 2021, for example, when Solana announced its involvement in a $100 million fund to support blockchain technology and gaming, SOL price experienced a rise of 17%.
Now Solice, a metaverse on the Solana-based system (similar to Decentraland), is gaining more and more popularity and has raised over $4.3 million, involving companies like Three Arrows Capital, Jump Capital, Kucoin Labs, and others.
Of course, Solana’s energy efficiency is one of the best news! The latest energy consumption report released by Solana, claiming that SOL transactions consume 1,837 Joules, triggered interest, especially in times we are all trying to build a greener future. In comparison, 2,160 Joules are consumed by two Google searches, 692,820,000 Joules by Ethereum and 6,995,592,000 by Bitcoin.
Solana Price Prediction | People Also Ask
It’s not only the latest news that may affect Solana’s price but market sentiment. So here are some frequently asked questions people have.
How Much Is Solana Worth in 2022?
Solana has a current price of $223.81 (as of December 2, 2021). If Solana holds its value over $220 and continues its bullish momentum, it is likely for SOL to break the anticipated $300 mark by January 2022.
How Much Can Solana Reach in the Next Five Years?
If Solana continues fulfilling its promises to bring the crypto space closer to both individual investors and organisations, then it is expected for SOL to continue its bull run and even reach $1,200 by 2025, according to some optimistic analysts.
Can Solana Overtake Ethereum?
Though it might be hard for Solana to bridge the $470+ million market cap gap it divides it from Ethereum, many think that Solana has the potential to replace Ethereum and even Bitcoin. This is because of Solana’s strong development, underlying technology, and partnerships globally. Even if it doesn’t overtake Ethereum, it’s a fact that Solana is a tough competitor.
Is Solana the Best Blockchain?
As Solana aims to improve not only transaction speed but the decentralisation of applications, many believe that it is one of the best and fastest programmable blockchain networks. Note that SOL works on both Proof of History (PoH) and Proof of Stake (PoS), which makes it unique. Also, it can process more than 50,000-65,000 transactions per second, has lower transaction fees, and is energy efficient.
Is Solana a Good Investment?
Yes, SOL is a good investment with a positive five-year outlook. Its value is expected to expand, as well as SOL’s adoption itself.
Will Solana Price Crash?
Though there is always a risk of a coin crashing, many believe that Solana is here to stay and that its future price will increase steadily. As stated, this is based on Solana’s strong development map and partnerships globally.
Solana’s Historical Data and Technical Analysis 2020-2021
Released for the public in 2020, SOL was trading at an average cost of under $1 until January 2021.
SOL entered the year 2021 at around $1.5, breaking its previous resistance level.
During the crypto rally of this year, SOL hit $58.30, but two months later, in July 2021, it decreased in value to $22.
Yet, in August 2021, another primate-based NTF project, the Degenerate Ape NFT collection, sent SOL price to above $60.
As stated earlier, this year, the Solana coin recorded an incredible growth of 17,000%, as reported by cryptocurrency experts, as it managed to rise to over $259 in September 2021.
Currently, SOL is valued at $223.81 with a market cap of $68,376,517,810 and a 24-hour trading volume of $3,932,013,604.
Solana Price Prediction 2021-2022
Price analysts anticipate that SOL will grow and have forecasted Solana price will hit $275 and continue to grow in 2022. As reported by the YouTube prominent crypto channel Coin Bureau, SOL has a guaranteed upside as a crypto, given the increasing demand on both individual and institutional levels.
Solana Price Prediction 2023
Some major analysts believe that SOL has the potential to enter 2023 at over $772 per Solana coin and even reach $1,577 if it continues to grow.
Solana Price Prediction 2024
Given its advancements, speed and security, many believe that even if SOL doesn’t hit $1,000, it could still be trading at above $400 and survive harsh conditions.
Solana Price Prediction 2025
Though we can’t speculate with Solana crypto prices and bullish predictions, many have forecasted Solana price will continue to grow steadily and reach a minimum value of over $1,600 and a maximum value of over $3000 in 2025.
Solana Price Predictions in the Long Term
With its strong presence in the smart contracts and NFTs sphere, it’s expected that Solana is here to stay far beyond 2025. In fact, Coin Bureau claims that SOL’s creator Anatoly can help the adoption of SOL thanks to his connections in the crypto space. Some extreme forecasts give us an average Solana price of around $6,246 in 2030.
The Fundamentals of Solana
While there’s nothing we can do to predict SOL price in the future, we can give you more information about this unique crypto.
What Is Solana?
Solana is defined as a blockchain smart contract platform that is attracting numerous DeFi and NFTs projects thanks to its fast transactions, security and low fees.
Solana supports more than 350 projects, from gaming to Web3 applications. There are over 38 DeFi projects with a value of over $14 billion, DeFi Llama reports. While this can’t compare to the Ethereum blockchain and its locked value of $180, we can definitely say that Solana is catching up in terms of popularity and adoption. Who knows? It might really become the next Ethereum killer.
Solana was launched in March 2020 by Anatoly Yakovenko, whose career started at the tech giant Qualcomm. That said, Anatoly started working on this project in 2017.
The team focused on facilitating smart contracts and dApps in the virtual space at high speed and low costs. All in order to create an open infrastructure, a censorship-resistant blockchain with advanced scalability features! Now Solana is among the Top 10 performing coins in terms of adoption, growth and market cap, attracting exciting promotional ventures.
What Makes Solana (SOL) Unique?
One of the most remarkable aspects of the Solana protocol is its combination of both proof of history (PoH) and proof of stake (PoS) consensus mechanisms. While we won’t get into the technicalities of both models, we should mention that PoH records operations and the time between them, while PoS monitors and validates them. This makes transactions on the Solana network easier, faster, more secure and more efficient.
What Is SOL?
SOL is Solana’s native token. SOL is one of the most popular coins in the cryptocurrency space now. The Solana Foundations initially reported that a total of 489 million SOL tokens would be released, with over 305 million Solana coins already in circulation.
Note that SOL initial price during its initial seed sale (April 5, 2018) was $0.04. Given the all-time high it reached this year, we can easily calculate this is 5400X ROI for those who believed in SOL from the beginning.
Is Solana a Profitable Investment?
So now, when you know more about Solana and what experts have to say about its possible prices in the future, it’s up to you to decide if SOL is for you or not. Remember that cryptocurrency investing remains risky and no forecasts should be considered investment advice.
That said, do not forget that Solana is one of the cryptocurrency leaders in terms of:
- Smart contracts and NFTs
- Energy efficiency
- A unique combination of PoH and PoS mechanisms
- Partnerships and global adoption among both institutional investors and individual traders
- Prominent team and development
- Future growth in the cryptocurrency market
So if you decide to add SOL to your portfolio, we have some great news. Many platforms and cryptocurrency exchanges opened their door to Solana, including eToro. So you can easily buy Solana/sell Solana and expand your portfolio.
So why wait! Act now.