Solana Price Prediction 2022-2031: Is SOL a Good Investment?

Solana has become a favorite for crypto investors as the cryptocurrency market grows, 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 Solana price prediction.

With a good potential, it is not farfetched for Solana to reach $5,000, a 10,000% increase in the next eight years. While some might find this increase unrealistic, consider that it rose more than 8,500% by January 2022 to an all-time high of $260. Solana’s sharp price increase in that time shows that anything is possible. Read through this Solana price prediction and find reasons why this might be so.

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 is $32.93 with a 24-hour trading volume of $641,459,336. Solana is down 1.61% in the last 24 hours. The current CoinMarketCap ranking is #9, with a live market cap of $11,713,214,983. It has a circulating supply of 355,724,614 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:

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 ensures 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

[mcrypto id=”141057″]

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.

While the demand for Bitcoin (BTC) and Ethereum (ETH) has flattened, the market for Solana (SOL) is on the increase.

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.

New Developments In The Solana Network

Aleph.im announced the first-ever, fully open-source, decentralized indexing framework that lets you deploy your own custom Solana indexer. Aleph.im is an open-source cross-chain decentralized cloud project.

Other new developments in the Solana network include Dual Finance staking options, Metaplex NFT compression, Metaplex NFT compression, etc.

Solana Technical Analysis

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Following a bearish breakout from Ascending Triangle, the price remains stuck in a Sideways Channel ($30-45). Solana is experiencing strong adoption by NFT projects, which drives solid growth in transaction volumes.

Again, Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). The nearest Support Zone is $30, then $25. The nearest Resistance Zone is $45, then $60.

Solana price Predictions by Cryptopolitan 2022-2031

The blockchain is cutting out the path for future developments in the blockchain space. Solana features rival those of Bitcoin and Ethereum. It also has a huge community. These advantages will propel Solana’s market capitalization to the top. Let’s trace the path of this crypto on its way to the top.

image 93
Screenshot 2022 10 07 at 11.02.51 PM

Solana Price Prediction 2022

Our Solana price prediction 2022 is a maximum of $39.59. We can expect the SOL price to be around an average of $38.21 and a low of $36.53 for the same year. Solana is experiencing strong adoption by NFT projects this year, and we might see a slightly bullish trend if all goes well in the market.

Solana Price Prediction 2023

Our Solana price prediction 2023 is a maximum of $64.92. We can expect the SOL price to be around an average of $56.07 and a low of $54.54 for the same year. Its trading volume is expected to increase steadily, signaling the bulls are beginning to overwhelm the bears.

Solana Price Prediction 2024

Our Solana price prediction 2024 is a maximum of $96.78. We can expect the SOL price to be around an average of $82.25 and a low of $79.45 for the same year. In 2024, the SOL price is expected to gain momentum if it solves power outages and adds more innovation into its space.

Solana Price Prediction 2025

Our Solana price prediction 2025 is a maximum value of $135.63. We can expect the SOL price to be around an average of $117.20 and a minimum value of $113.09 for the same year. SOL price is expected to thrive as more crypto enthusiasts take an interest in the token.

Solana Price Prediction 2026

Our Solana price prediction 2026 is a maximum of $199.00. We can expect the SOL price to be around an average of $173.65 and a low of $168.96 for the same year.

Solana Price Prediction 2027

Our Solana price prediction 2027 is a maximum of $294.04. We can expect the SOL price to be around an average of $259.74 and a low of $252.80 for the same year. The prices are expected to continue upward as more strength is recorded for the SOL token. Our predictions remain positive throughout the year.

Solana Price Prediction 2028

Our Solana price prediction 2028 is a maximum of $438.30. We can expect the SOL price to be around an average of $388.59 and a low of $378.20 for the same year. We might see it increase further if Solana continues improving its network security and scalability.

Solana Price Prediction 2029

Our Solana price prediction 2029 is a maximum of $658.62. We can expect the SOL price to be around an average of $570.06 and a low of $554.52 for the same year. The influx of projects in the Solana ecosystem will likely lead to mass adoption, thus affecting its price positively.

Solana Price Prediction 2030

Our Solana price prediction 2030 is a maximum of $963.35. We can expect the SOL price to be around an average of $820.20 and a low of $791.70 for the same year.

Solana Price Prediction 2031

Our Solana price prediction 2031 is a maximum of $1,398.11. We can expect the SOL price to be around an average of $1,191.67 and a low of $1,158.86 for the same year. Solana is expected to increase steadily, and we predict that 2031 is the year for this cryptocurrency.

Solana Price Prediction by Wallet Investor

Wallet Investor predicts that Solana (SOL) is a bad long-term investment. They foresee the coin will devalue in one year and trade at a maximum price of $1.945. Wallet Investor Solana coin price prediction says that SOL will decrease by 80.274% by 2027.

Solana Price Prediction by Trading Beasts

Trading Beasts’ Solana price forecast is bullish. Although their forecasted SOL price by 2022 is a maximum price of $44.06 and minimum price of $29.96. The average trading price of the coin is predicted to be $35.244.

By 2023, Trading Beasts expects the SOL coin to have a maximum price of $50.91 and a minimum price of $34.61. The average price of the coin is expected to be $40.72.

Trading Beasts predicts that Solana will have a maximum price of $75.20 and an average trading price of $60.16 by 2024. The minimum price of the coin by then is expected to be $51.13.

Solana is predicted to have a maximum price of $90.91, with a minimum price of $61.82 by 2025. The average trading price of the coin by then is expected to be $72.72.

Solana Price Prediction by Digital Coin Price

Digital Coin Price long-term SOL price prediction is bullish. They expect the coin to have a maximum price of $40.28 with a minimum price of $28.90 by 2022. The average trading price of the coin by then is expected to be $33.66.

By 2023, Digital Coin Price predicts that Solana will have a maximum price of $77.47 with a minimum price of $69.96. The average trading price of the coin is expected to be $73.50.

Also, their Solana prediction is a maximum price of $167.16 and a minimum price of $155.68 by 2027. The average trading price of the coin is expected to be $160.49.

Digital Coin Price predicts that Solana will have a maximum price of $468.04 and a minimum price of $452.39 by 2030. By 2031, SOL is expected to reach a maximum price of $636.08 and a minimum price of $616.84. The average trading price of the coin by then is expected to be $625.86.

Solana Price Prediction By Industry Experts

Alex Nagorskii, the funds’ management executive at DigitalX, says that SOL could close out 2022 worth $80 based on the recent upgrades to the network.

“Solana has implemented several promising protocol updates which appear to have reduced outages in the short term. It remains to be seen if the stability will persist. Solana has captured significant portions of the NFT market from Ethereum and remains a decent competitor in the L1 race.”

Gavin Smith, the general partner at Panxora Hedge Fund, also sees a bright future for SOL on the back of its utility, predicting it will see out 2022 worth $76 and reach new heights in the future

“SOL is one of the leading contenders in the smart contract blockchain space. They are likely to be one of the chief beneficiaries if the Ethereum upgrades fail to deliver lower transaction fees.”

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 Labs was recently accused of irregular sales of its initial sales before being publicly available. If the news is anything to go by, it may impact Solana’s development, just like the lawsuit on XRP.

Solana has proved that blockchains can be environmentally friendly, fast, and cheap. Solana Pay is the future of payments. The blockchain is cutting out the path for future developments in the blockchain space. Solana features rival those of Bitcoin and Ethereum. It also has a huge community. These advantages will propel Solana’s market capitalization to the top.

Solana is one of the most robust cryptocurrencies on the crypto market today. Despite the outages it experiences, the cryptocurrency has managed to build a powerful NFT ecosystem. This NFT ecosystem is expected to help the platform immensely in the future when they expand into the metaverse. Our Solana sol price prediction is bullish, and we expect the coin to trade at a maximum price of $294.04 in five years. Even though we are bullish on Solana, it is advisable to do your research before investing in this cryptocurrency.



from Price Prediction – Cryptopolitan https://ift.tt/ujCOQ1p

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