As the cryptocurrency market grows, Solana has become a favorite for crypto investors, with its inflows surpassing $50 million last month. 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 SOL/USD price travels over the Moving Average curve, indicating the market is following a bullish movement. However, the market also experiences declining volatility today. In addition, the SOL/USD price seems to move towards the resistance, signifying a possible reversal movement, which could break the bullish momentum.
Today’s Solana price today is $48.80 with a 24-hour trading volume of $1,567,939,859. Solana is down 9.23% in the last 24 hours. The current CoinMarketCap ranking is #9, with a live market cap of $16,556,916,705. It has a circulating supply of 339,268,498 SOL coins and the max. supply is not available.
Let’s now look at what analysts predict for the Solana price in the coming months – and years – and consider whether SOL should be a part of your crypto portfolio.
Also Read:
• How To Buy Solana?
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.
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 of the transaction.
Solana Overview
Solana Overview
| Coin | Symbol | Price | Marketcap | Change | Last 24h | Supply | Volume (24h) |
|---|---|---|---|---|---|---|---|
 | SOL | $ 47.62 | $ 16.23 B | 9.72% | 339.27 M | $ 1.71 B |
Solana (SOL) Coin Price History
In 2021, Solana (SOL) token had 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 trading 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.
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.
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. One 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.
Where to buy Solana crypto
Some of the exchanges where you can buy SOL tokens include Binance, Coinbase, and Kucoin.
Where to store my Solana coin
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.
Solana Technical Analysis
The chart below shows Solana on a downward trend that sent the coin into oversold territory twice on the 9th and 11th of May. This was then followed by a price reversal in the market before price momentum slowed down. The William Alligator is sleeping and price momentum on the upside is decreasing. Prices will likely stagnate in the short term.
Solana Price Predictions 2022 – 2030
Walletinvestor
Wallet Investor ranks Sol crypto historical data performance a ‘C’ grade. Sol currency is then forecast to grow by 183.6% in one year from its current price, which makes it an awesome investment. Short term, Solana will perform poorly with its price dropping to $23.042 in two weeks. Market volatility could push the prices to range from $30.799 to $14.67. The long-term Solana coin is a good investment with an estimated ROI of 361.8% in 2024, this will rise to 543.5% in 2025. ROI in 2026 will be 724.3% and in 2027 at 905.2%.
TradingBeasts
Trading Beasts used linear and polynomial regression on historical data to provide a Solana forecast. The value of Solana will drop gradually in the second half of 2022. In June, the Sol coin will sell at 57.103 and this will drop to $53.925 in December. The technical indicators suggest the trend will continue until August 2023 when the trend will reverse. This will see Solana coins selling at $63.62 by the end of the year. 2024 will be entirely bullish, opening at $66.958 in January and closing at $93.601 in December. 2025 will perform just as well, opening at $95.521 and closing at $113.009.
Digitalcoin Price
Solana projection by Digitalcoin Price is bullish for the entire period between 2022 and 2031. The short-term SOL coin price will rise to $72.01 in June. The upward trend will continue until November at $76.63 and then correct to $73.28 in December. The Sol prediction shows Solana coins will cross the $100 mark in 2025 to average at $102.21. It will continue rising and reach $216.59 in 2029 joining other crypto giants at the top. In 2030, Solana’s average price will be $244.05 and prices will range from $236.90 to $255.24. Solana’s average price in 2031 is $281.24.
Cryptopolitan
Solana Price Prediction 2022
Sol price prediction for 2022 is $61.46. Solana has been losing value since the beginning of the year and only had slight gains in February and April despite having one of the fastest-growing ecosystems. Solana’s price will drop lower in the second half of 2022 and is expected to range from $59.08 to $68.27.
Solana Price Prediction 2023
Sol price prediction for 2023 is $88.44. NFT marketplaces began coming into fame in 2022. In 2023 the NFT Solana marketplace is expected to scale. Examples of these marketplaces include Magic Eden, Solanart, Solsea Solana market, Metaplex, and Digital Eyes. They leverage the low cost and high speed of the Solana ecosystem. Solana cryptocurrency will sell between $102.65 and $85.98.
Solana Price Prediction 2024
Sol price prediction for 2024 is $128.50. Solana pay, a merchant payments platform is expected to grow as cryptocurrencies grow mainstream. With transaction fees of less than $0.01 speed of over 400-millisecond block production, it should rival centralized payments platforms. Solana cryptocurrency will reach a maximum price of $152.51 and a minimum price of $124.96.
Solana Price Prediction 2025
Sol price prediction for 2025 is $179.57. Solana’s advancement and changes by the community will revolutionize how blockchain systems operate. Updates on the blockchain will make it more user-friendly to developers while at the same time offering privacy and resilience. These future results by Solana cryptocurrency will see it hover between $213.55 and $174.43.
Solana Price Prediction 2026
Sol price prediction for 2026 is $263.45. Solana’s growth will be slow compared to its past performance. The growth will however outperform many digital coins in the crypto market. This will see it reach and pass its previous all-time high of $260.06 set on 6th November 2021 according to Coinmarketcap. Solana will then set a new support and resistance level selling between $301.79 and $256.26.
Solana Price Prediction 2027
Sol price prediction for 2027 is $394.13. Crypto enthusiasts are positive about the outlook of the cryptocurrency market in the future. This is very likely considering the rate at which jurisdictions are accepting and regulating cryptocurrencies. This will see a growth of tokenization and the use of initial coin offerings by startups. Solana crypto will trade between $443.33 and $380.96 for the year.
Solana Crypto Price Prediction 2028
Solana’s price prediction for 2028 is $567.13. As the Web 3 grows there is a likelihood that Solana will launch its services into the Metaverse and in-play/earn moves to earn games. This will be possible through the Solana governance mechanism that will allow dreamers and developers to make such input. Solana prices will range between $670.89 and $551.36.
Solana Sol Price Prediction 2029
SOL’s price for 2029 is $792.59. There will be functionalities galore on the Solana blockchain on decentralized finance (DeFi). This will be a result of cooperation with financial institutions as cryptocurrencies become more mainstream. Deep learning and blockchain systems will revolutionize institutions. While they will still be highly volatile, it is predicted Sol will sell between $925.17 and $764.23 for the year.
Solana Sol Price Prediction 2030
Solana’s price prediction for 2030 is $1,208.77. Solana will eventually cross the $1000 mark in 2030. At this price, its market cap will have grown and will be rivaling the second-largest cryptocurrency Ethereum. Solana crypto Prices for the year will range between $1348.61 and $1177.07.
Price Predictions by Industry Influencers
More Crypto Online youtube channel dives into some technical analysis using the Elliot wave indicator to give short-term price predictions.
Conclusion
Solana has had a good run since its inception. Its blockchain rivals that of Ethereum and Bitcoin in that it is environmentally safe, has low transaction costs and is relatively very fast. This saw Solana perform very well at the beginning of the year before crypto prices began going down.
Solana’s price growth in the second half of 2022 will be slow, however, it will grow gradually every year and reach its ATH in 2026.
The censorship-resistant blockchain is a good investment for both speculators. and developers. This however is not investment advice.
FAQS about Solana
Is Solana a good Investment?
Yes. Solana is a good long-term investment.
What is the utility of a Sol token?
Sol tokens are used as governance tokens for voting, staked for delegation, and to pay for processing fees.
Where can I buy Solana?
You can buy Solana on Binance, Bitfinex and Kraken.
Will the price of Solana reach $1000?
Yes, Solana’s price will reach $1000 in 2030.
What will be the price of Solana10 years from now?
Solana’s price in 10 years will be $1,400.
What will be the price of Solana 5 years from now?
Solana’s price in 5 years will be $394.13.
Can I purchase Solana on Huobi global?
Yes, you can buy Solana with a moderate confidence level.
Is there a risk to Staking Solana?
Yes, staked Solana can be slashed if a node operates maliciously.
Will Solana’s 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 and 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.
Source: https://www.cryptopolitan.com/solana-price-prediction/