Solana (SOL) is a blockchain network created in 2017 by Anatoly Yakovenko and Greg Fitzgerald. It first entered the crypto trading market with its coin, SOL, in April 2020, debuting at $0.79 per coin. Since then, it saw a rocky climb to its record high of nearly $260 in November 2021, ultimately plunging back down to $0.50 on May 11, 2020.
It has since climbed to its current price of just over $40 as of June 9, 2022. However, some experts believe Solana could hit $105 in 2022 — which leads us to our Solana price prediction for 2022 and beyond.
What Is Solana?
Solana is hailed as the fastest cryptocurrency around, processing 2,700 transactions per second, according to Coindesk. Because of this, Solana has managed to overcome one of the major stumbling blocks to widespread crypto adoption as a valid currency across the world, and putting 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.
Solana is tied to a stablecoin, Tether. Stablecoins are known to be less volatile than other cryptocurrencies, as they are tied to the value of the U.S. dollar. This means solana is less decentralized than options like bitcoin, ethereum, or cardano, one of the other large altcoins, which can be a plus for some investors and a drawback to others.
Like Cardano, Solana uses the more efficient Proof-of-Stake technology, giving miners access to more coins based on how much they have already mined. 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 (NFT) transactions. Solana hosts many NFT marketplaces, including Metaplex, Solanart and the widely used Magic Eden. NFT traders like the versality and low fees of Solana, and the blockchain is giving Ethereum a run for its money when it comes to NFT transactions.
Should You Buy Solana?
All of this to say, the Solana blockchain is highly efficient, very stable and offers low transaction fees for investors. These factors combine to make it a good investment as far as cryptocurrency goes. SOL is trading, right now, closer to its lows, making it a good deal.
Coinbase.com shows that 73% of Solana’s trading activity is purchases, while only 27% of investors are selling. Of course, it’s important to remember that any cryptocurrency — even those tied to stablecoins — is highly volatile.
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.
What Is Solana’s Market Cap Right Now?
Solana has a market cap of $13.9 billion, making it the 9th largest cryptocurrency, ahead of dogecoin and polkadot 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. The price is trending downward so far in 2022, but it could make a reversal at any time. The question is: Will Solana keep going up?
Experts foresee SOL beginning to rise in 2022 and, based on market predictions, the future certainly looks bright. All of this begs the questions: What will Solana be worth for the remainder of 2022? How high will it go? Will it continue to climb? And what will Solana be worth in 2030?
What Will Solana Be Worth: 2022?
Experts predict Solana will soar in 2022, potentially reaching close to previous highs by the end of the year, according to Gov.Capital.
Coinpedia.org is predicting values of $105 as a high for 2022, with a worst-case scenario of roughly $76 by the end of the year if delays implementing new technology occur.
A more modest prediction from DigitalCoinPrice.com values SOL at $57.60 by the end of 2022. Similarly, TradingBeasts.com said the alt-coin could end the year at $56.69, and that the lowest price we will see is right around $38.55, which is just under where it sits in June.
What Will Solana Be Worth in 2023?
Let’s look ahead to 2023. Some experts are predicting a spike for the coin. Gov.Capital believes it could climb as high as $291 by mid-year 2023. That would be a jump of nearly 650%, based on a Solana price prediction derived from volume changes, price changes, market cycles and other alt-coins.
DigitalCoinPrice.com is much more conservative, predicting a high of just $64.27 and a low of $54.90.
How Much Is Solana Worth in 2025?
While it’s impossible to predict the future, analysts use sophisticated algorithms to create Solana price predictions up to 10 years out. Imagine the year 2025, and you invested $1,000 in Solana today at roughly $40 per coin. That would give you an investment of 25 coins.
By 2025, according to DigitalCoinPrice.com, you would have a minimum of $1,774.25 at $70.99 per coin or more than $2,000 at $85.04 per coin, effectively doubling your money.
Gov.Capital thinks Solana will continue to climb through 2023 and beyond, though. It predicts a high of nearly $1,642.37 by the end of 2025, with a minimum climb to $1428.15. In a best-case scenario, your 2022 investment could be worth more than $41,000 by 2025.
What Will Solana Be Worth in 2030?
Looking ahead to 2030, DigitalCoinPrice.com sees SOL continuing to rise, reaching a high of $196.07 and a minimum of $181.98. Your $1,000 investment could be worth as much as $4,901.75 if DigitalCoinPrice.com is right.
Solana is considered the fastest blockchain with a bright future ahead as its technology continues to advance. The 9th 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. Today, experts are looking for it to rise again.
GoBankingRates.com listed Solana as one of the top four cryptocurrencies to consider buying in March 2022. The price has since dipped even lower, making it a tremendous value if predictions of its increase prove to be true.
Information is accurate as of June 9, 2022.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.