Solana (SOL) Price Prediction 2022
Solana is a blockchain network created in 2017 by Anatoly Yakovenko and Greg Fitzgerald. It first entered the crypto trading market with its coin, solana, which trades under the symbol SOL, in April 2020, debuting at $0.79 per coin. After that, it saw a rocky climb to its record high of nearly $260 in November 2021 before declining fairly steadily to about $18 by Nov. 9.
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Despite its current price of just above $18, some experts believe solana could come close to its previous high in 2022 — which leads to the following solana price prediction for 2022 and beyond.
What Is Solana?
Solana is hailed as one of the fastest blockchains around, processing 2,700 transactions per second, according to Coindesk. Because of this, SOL has managed to overcome one of the major stumbling blocks to widespread crypto adoption as a valid currency across the world and put people closer to commonly accepted decentralized finance.
The low fees, low congestion and fast processing speeds mean that solana could someday step up to compete with Visa credit cards as a commonly accepted payment form.
Although the stablecoin tether has launched on Solana, SOL remains the network’s native coin and is not pegged to tether.
Solana is less decentralized than networks like Bitcoin, Ethereum and Cardano, which can be a plus for some investors and a drawback to others.
Like Cardano and Ethereum, Solana uses the more efficient proof-of-stake technology, giving validators access to more coins based on how much they have staked. It also uses proof-of-history to confirm transactions are in the right order. The PoH functionality increases the network’s speed, while PoS helps keep it running efficiently.
A Bright Future in NFTs
Solana’s blockchain is also on the cutting edge of non-fungible token transactions. Solana hosts many NFT marketplaces, including Metaplex, Solanart and the widely used Magic Eden. NFT traders like the versatility and low fees of Solana, and the blockchain is giving Ethereum a run for its money when it comes to NFT transactions.
What Is Solana’s Market Cap Right Now?
Solana has a market cap of $6.68 billion, making it the 12th-largest cryptocurrency, behind polkadot, polygon and cardano but above chainlink, according to CoinMarketCap. Right now, SOL is a long way from its high point of just under $260, which means it could be a good time to buy.
However, it’s important to note that while the price had been fairly stable over the last several months — until a steep decline that began on Nov. 6 — it has trended downward so far in 2022. The question is: Will solana trend upward over time?
Some experts foresee SOL beginning to rise in 2022. All of this begs the questions: What will solana be worth for the remainder of 2022? And what will solana be worth by 2030?
What Will Solana Be Worth: 2022?
Some analysts predict solana will soar in 2022. CoinGape forecasts that SOL will finish the year at a maximum price of $150.
Not all analysts see significant gains for solana this year, however. CoinPriceForecast, which predicted solana would sit at $33.74 by mid-year, forecasts a 31% increase to $24.79 by year’s end.
What Will Solana Be Worth in 2023?
As the widely disparate shorter-term forecasts show, it’s notoriously difficult to predict cryptocurrency prices. That said, Gov Capital sees solana ending 2023 at $111.34, an increase of about 500% over the current price, based on a prediction derived from volume changes, price changes, market cycles and other alt-coins.
CoinGape is much less specific, predicting a maximum of $717.65 and a minimum of $59.30.
How Much Is Solana Worth in 2025?
While it’s impossible to predict the future, analysts use sophisticated algorithms to create solana price predictions years out.
In 2025, according to CoinPriceForecast, solana could be worth $37.43 by mid-year and $42.24 by the end of the year — a nice return on the current price.
Wallet Investor analysts see solana crashing to an average price of $1.16 by the end of 2025.
What Will Solana Be Worth in 2030?
Looking ahead to 2030, CoinPriceForecast sees SOL continuing to rise, reaching $83.87 by the end of 2030. If this prediction pans out, a $1,000 investment made at the current price of $18 could be worth as much as $4,659 by the end of 2030.
Should You Buy Solana?
The Solana blockchain is highly efficient and very stable, and it offers low transaction fees for users. These factors combine to give the coin potential as a good long-term investment as far as cryptocurrency goes.
SOL is currently trading closer to its lows, potentially making it a good deal. Of course, it’s important to remember that any cryptocurrency is highly volatile — as evidenced by the fact that solana has lost 93% of its value in the past year. Never invest more than you care to lose. And always consider holding your investments long-term to achieve the greatest return on investment, especially in the crypto market.
Final Take
Solana is considered one of the fastest blockchains with a bright future ahead as its technology continues to advance. The 12th-largest crypto based on its market cap, solana’s popularity is continuing to grow. It had a huge upswing in 2021 but dipped along with the rest of the market in 2022.
GOBankingRates listed solana as one of the top four cryptocurrencies to consider buying in March 2022. The price has dipped significantly since then, making it a tremendous value if predictions of its increase prove to be true. However, also keep in mind the predictions that see solana continuing to plummet, making the coin essentially worthless.
You can buy and sell solana on a number of crypto exchanges, including Gemini and Coinbase.
Solana FAQ
The more you know about solana, the better able you'll be to decide whether you want to invest.
How much is solana worth in 2022?
As of Nov. 9, solana is worth about $18.
Does solana have a future?
While no one can predict the future, solana appears to have a lot of potential. Solana blockchain founder Anatoly Yakovenko recently told Fortune that improvements have been implemented to resolve reliability issues resulting from network outages and downtime. He also said that he sees great potential for growth in blockchain-based gaming in the coming year and agrees with predictions that say Solana "will become known as the 'NFT chain' in a multichain world."
Daria Uhlig contributed to the reporting for this article.
Information is accurate as of Nov. 9, 2022.
This article originally appeared on GOBankingRates.com: Solana (SOL) Price Prediction 2022
