Solana is dubbed one of the fastest blockchains globally and has a market cap of $43 billion with over 67 billion transactions. The project boasts an impressive theoretical throughput of 65,000 transactions per second with close to zero fees.
However, despite all its recent wins, Solana hasn’t escaped its fair share of controversy in the crypto space. The project has left skeptics unsure if its incredible transaction speed is only possible because it forfeits decentralization.
Away from all the controversy, crypto enthusiasts and Solana hodlers will be wondering what’s next for the Solana coin price. Will it get to another all-time high? There are answers to this and more in this Solana price prediction article.
Table of contents
- What is Solana?
- SOL Coin Price in 2021: Price History
- Solana (SOL) Price Prediction
- Is Solana a Good Investment?
- Where to buy Solana and exchange SOL at the best rates?
What is Solana?
Solana is a functional open-source blockchain project that supports smart contracts, NFTs, and several decentralized applications (DApps). Anatoly Yakovenko and Greg Fitzgerald created the project in 2017 alongside the native Solana coin ($SOL).
Yakovenko has previous work experience in distributed systems design, working for leading tech company Qualcomm Incorporated (QCOM). His awareness of the reliability of a clock in simplifying network synchronization helped him on the way to creating Solana.
Instead of Ethereum’s proof-of-work model, Solana uses a unique and innovative hybrid consensus model that combines a proof-of-history (PoH) algorithm with a super-fast synchronization engine. This allows Solana to theoretically process more than 710,000 transactions per second (TPS) without needing any scaling solutions.
|FOUNDERS||Anatoly Yakovenko and Greg Fitzgerald|
|CIRCULATING SUPPLY||337,156,134.92 SOL|
|TOTAL SUPPLY||511,616,946 SOL|
|ALL TIME HIGH||$260.06|
SOL Coin Price in 2021: Price History
As of January 1, 2021, the $SOL coin price was $1.86 per unit. Anyone who bought the coin then expected a decent return on investment. But they barely would have expected the token to rise by 13,715% within 11 months. On November 6, it hit $259.96, the highest $SOL coin price in 2021.
Solana (SOL) Price Prediction
Our Solana (SOL) price predictions give insights into how high or low the token would go over the next couple of years. While we can’t give an exact price forecast, we use technical analysis to study the coin’s price history data and juxtapose it with forecasts from other experts in the industry. Here are our Solana ($SOL) price predictions for 2022 to 2050:
Solana Price Prediction 2022
Solana started the year at $172.8 but has become one of the worst-performing crypto tokens in the past 5 days, with $SOL down nearly 10%. In fact, since January, it has lost more than 32% of its value. As of press time, the price of Solana is $120.83.
Nonetheless, we expect $SOL to touch the $175 price mark before the end of the year, after which we would see a rally above $200. Other market analysts, such as Crypto Fire, further predict Solana will end the year at $515.44.
Solana Price Prediction 2023
2023 might be 8 months away, but it’s not too early to forecast Solana’s price direction. Some experts see $SOL having a promising 2023 and overcoming marginal impacts to be bullish at $400. In an opposing forecast, crypto market expert David Cox sees a bearish future for Solana and believes it will hardly stay at the $100 mark in 2023.
Solana Price Prediction 2025
By 2025, the world will see an expansion in blockchain tech, mass adoption, and market cap growth by almost $2 trillion. Experts believe that such a favorable future will positively impact other major crypto projects, including solana.
As such, we align with some experts to peg our average Solana price prediction for 2025 at a range of $440 – $470. Financial tech journalist Jamie Redman has a tall prediction of Solana exceeding $1,100 by 2025. While this price might seem a stretch, with $SOL and the volatile crypto market, it may not be far-reaching.
Solana Price Prediction 2030
According to the Winklevoss billionaires, bitcoin’s market cap will hit $9 trillion in 2030, and $BTC will replace gold as a store of value. That’s a hard nut to crack. But if that happens, other top projects will definitely rise, and Solana may eventually hit the $1,000 benchmark if it missed it in 2025 or the succeeding years.
Solana Price Prediction 2040
As we’ve always maintained in our various crypto price predictions, it’s difficult to have an accurate price forecast for 18 years ahead. The reason is the ever-dynamic technological landscape that can influence the buying sentiments of crypto enthusiasts.
Notwithstanding, Solana has proven to be a reliable store of value, being a launchpad for several metaverse projects. We expect the blockchain to remain in business till then, and if it does, our Solana price prediction for 2040 will range from $2,000 – $3,000.
Solana Price Prediction 2050
2050 is too distant a year to see, and so it might be overly ambitious to make such a long-term, future Solana price prediction. Many things might change in global finance and the crypto space that would nullify every crypto price prediction for 2050.
We could see the replacement of fiat with crypto or a possible crash of the global crypto industry. These reasons and more mean that we have no SOL price predictions for 2050, but we can only guess or expect a continuation of an upward trend.
Is Solana a Good Investment?
While it may be brilliant in terms of TPS and low fees, is Solana a good investment? Solana (SOL) finished 2021 in a strong fashion, becoming one of the top-performing cryptos but entered 2022 with a slow pace.
Admittedly, the crypto market can be an incredibly volatile space. A drop in bitcoin price could cause other coins to tumble despite any Solana crypto price prediction you depend on.
Know that the decision to invest in crypto projects like the Solana coin is up to you, and you could lose your funds if things go wrong. As always, DYOR (Do Your Own Research) before committing funds to any project.
Where to buy Solana and exchange SOL at the best rates?
Several platforms are available for users to buy Solana or exchange $SOL coins in minutes. However, each of these platforms offers different trading fees. So to exchange $SOL at the best rate, use a DEX aggregator such as Swapzone.io.
Swapzone is a non-custodial platform that allows users to curate the best crypto prices from a list of exchanges that supports the token under consideration.
How to buy Solana with Bitcoin? Here is a handy instruction:
- First, open the Swapzone website.
- Now, in the select pair tab, choose Bitcoin (BTC) and enter the amount of BTC you want to exchange.
- In the ‘Get Up To’ section, select Solana (SOL).
- Once you enter all the above information, you should see the exchange rate and multiple offers displayed on the website.
- Here, you can sort the offers based on various parameters like price and transaction time.
- Choose the best offer you can find and click «Exchange».
- Enter the relevant wallet details and click on ‘Proceed to exchange’ to convert Bitcoin to Solana.
- Wait for the deposit to be processed by the exchange service and the exchange to be done.
- Lastly, don’t forget to rate the exchange partner and leave a review, so we can gather more information on the exchanges for future users
As always, it is nearly impossible to accurately determine the exact prices of speculative assets like Solana in the long term. However, with this price prediction article as your guide, you can glimpse the potential that experts see in $SOL in the coming decades.