Crypto: Solana coin Price prediction 2022-2030
Know the roadmap of the crypto prices before investing; the Solana price prediction features a forecast of Solana's future and what to expect.
Bitcoin was the dawn of a new era in the world of Financial Technology; a cryptocurrency founded off the bubble of the 2008 financial crisis has paved the way for new cryptocurrencies and technological advancements.
The Solana network is among the new projects that crept into the crypto space, registering itself as a force to be known.
It was founded barely 2 years ago but rose from a mere 0.22 USD during its ICO to an ATH of over 258 USD on November 6, 2021. The initial surge behind the climb of Solana price was its unique Blockchain infrastructure that appeared close to solving the crypto trilemma problem of scalability, Decentralization, and Security.
After launching, Solana's price has seen an impressive bull run from the middle of 2021, gaining over 700% in July and touching a new ATH of $216 on September 9, 2021.
Yet, the crypto asset has been bleeding red, unable to keep its gain; the live market chart at the moment shows Solana's price below 40 USD - a far cry from its performance in the past years.
The possibility of the Solana price moving past the current lines and towards a new ATH remains an eternal question in the minds of many investors.
Every cryptocurrency has its good days and bad days, but an analysis of the trajectory of the network or the Solana price prediction can inform future decisions. Here is also an analysis of Shiba Inu's price prediction.
Many of the problems faced by Solana place a blurry view on the future of Solana, but here is a deep dive into Solana's price prediction, flaws, and future.
What is Solana? Analysis of the Blockchain miracle
While Bitcoin and Ethereum struggled with scalability and slow transactions, Anatoly Yakovenko developed a solution that improved scalability and usability.
Mr Anatoly, with his colleague Greg Fitzgerald, proposed and worked on a permissionless blockchain system that combines the popular Proof-of-Stake (PoS) with a new solution called Proof-of-History (PoH).
The hybrid protocol gave birth to Solana Network, with SOL as the native cryptocurrency of the system. It has a decreased validation and transaction time. The Solana network also attracted many institutional interests with its lightning-fast processing times that can perform up to 50,000 TPS.
The project was quickly dubbed 'the Ethereum Killer' because, unlike the low processing time witnessed with Ethereum, Solana also came with meagre transaction fees - a feature that made it attractive to both medium and large-scale enterprises.
Over the years, Solana's price has been favoured with the number of projects undertaken by the network; Solana now competes with Ethereum in the DeFi ecosystem, Metaverse, and NFT marketplace.
The Usability of SOL as a payment method for staking and everything on the network also plays a crucial role in the Solana price prediction.
However, the Solana network is not without blemishes, as the project has been plagued with many outages. This singular action has seen Solana's price retrace, experiencing short-term bearish effects. But none can envisage what the future holds for the price of Solana and its prediction - it may be a tale worth waiting.
Art work on crypto and blockchain.
Solana Price performance so far
The price of Solana has done relatively well for a developing project in the competitive crypto space. From its ICO of 0.22 USD, Solana could jump to 1.004 USD on July 21, 2020, before doubling that figure to start trading at 2.019 USD on November 13, 2020.
Solana started the year with a price of 4.269 USD on January 31, 2021, with a 50% rise. Anyone can easily say that 2021 was a good year for the Solana Price as it went up from 8.846 USD on February 13 to 13.069 USD on February 28.
During the summer of 2021, NFT hype and the growing demand in the DeFi community helped the price of Solana to reach 30.88 USD and 110.24 USD in July and August.
While fast transactions and low processing fees have helped hedge the price of Solana, the network is not without problems. The Solana network has been marred with multiple outages; the potential 'Ethereum Killer' has suffered at least 7 outages since inception.
The most recent outage occurred on June 1, 2022, taking the Solana blockchain offline for over 4 hours. The Solana price felt the effect of the outage upon losing about 12% of its value to trade below 40 USD at the time.
Bearish market in crypto.
Solana Price prediction for 2022-2030
The crypto market has been bearish for a significant part of 2022, and Solana was no different. However, Coinmarketcap appears optimistic, predicting that the coin will still appreciate in due course.
The platform attribute this optimism to the recent announcement by FTX, the cryptocurrency exchange's decision to launch its NFT marketplace on the Solana network.
Crypto analytical sites like CoinCodex used their analytical tool to delve into the Solana price prediction, asserting that SOL will be a good BUY because it might reach up to 64 USD in 2023, 142 USD in 2024, and 315 USD in 2025.
Even CryptoNewsz reiterated the positive energy, predicting that Solana may touch 68 USD by the end of 2022. In the same vein, Wallet Investor also weighed in on the Solana price prediction, forecasting that Solana may reach up to 444 USD in 2027.
DigitalCoinPrice, another crypto expert site, also stands bullish on the Solana price prediction. According to the information site, Solana stands a chance of peaking at 105 USD in 2028 and 127 USD in 2029. Come 2030, DigitalCoinPrice remained optimistic that Solana may head to 144 USD.
A cryptocurrency Analyst analysing the crypto market.
Last note on Solana Price prediction
Solana has seen steady growth over the years, and its historical data shows a coin that can move against the resistance and trade at a higher price.
The bedrock is rooted in the innovative potential of the Solana project as both a force to be recognized in the new metaverse era and NFT space. Solana is also among the best crypto ripe for investment in 2022.
The Ecosystem is building itself as a direct competitor against Ethereum, surrounded by an active community willing to follow the path set by the network.
However, Solana still has much to do regarding the current security and governance protocol. On the issue of decentralization, Solana still lags when compared to counterparts like the Cardano network, which boosts 100% decentralization.
Investors should note that the Solana team also seems committed to solving these problems and advancing as the need arises.
This text on the Solana price prediction is just a forecast of how Solana might perform. It is not financial advice. Clacified encourages caution and proper research before any investment decision because it is best to miss out on returns than lose all savings to dubious projects.