Yash MajithiaOver the past year, many events have fueled the crypto market’s bearish tendencies. For instance, after the FTX drama, Solana’s association with Sam-Bankman Fried induced SOL, its native cryptocurrency, to shed more than 70% of its value in just a few days. However, this year has already been quite explosive for the altcoin, as it registered an over 200% growth from its December 2022 lows to test the $25 resistance.
This guide reveals our Solana price prediction until 2030 and examines the key drivers that may shape its value. Plus, we guide you on how to invest in SOL with minimal fees.
Solana Price Prediction 2023 – 2030
The following is a quick overview of our predictions for the next few years to give you an idea of SOL’s potential value:
- 2023 End: The $25-$50 range will pose a significant challenge for SOL to breach, given its high liquidity. Despite this, we predict that SOL could reach $47 by 2023’s end.
- 2024 Forecast: With continued momentum and new partnerships with developers, SOL may grow and reach the $57 mark in 2024.
- 2025 Expectation: While consolidation in the $50-$60 range may be expected, if SOL can overcome this, there is a potential path to $81 by 2025’s end.
- 2030 Outcome: As the adoption of cryptocurrency increases, we anticipate increased interest from institutional and individual investors. This could lead to a positive outlook for SOL and a value of $233 by 2030.
Solana – Latest News
Before getting started with our price predictions, let’s take a look at some of the recent news updates surrounding this cryptocurrency:
- After starting 2023 at the $10 mark, Solana increased to $25 per token in February.
- In March 2023, major altcoins including Solana corrected after Silvergate, a major crypto bank, lost 50% of its valuation.
- SOL is currently priced at $20, and has a market cap of nearly $8 billion.
Solana Price History
SOL is a cryptocurrency that is native to the Solana blockchain and is one of the best altcoins that stands in the top 15 cryptos by market cap. It is used as compensation for Solana clusters to validate transactions, and SOL holders can stake their tokens to earn APY rewards.
In 2021, the Solana token price experienced a tremendous surge in value, rising by over 18,000%, propelling it to become one of the most promising cryptocurrencies. This buying frenzy peaked on 6 November, with the SOL coin price reaching an all-time high of nearly $259.
Despite its impressive performance in 2021, 2022 was a challenging year for SOL investors due to the bear market. Moreover, a hack on the Solana blockchain last year resulted in the loss of over $8 million for thousands of users.
Nonetheless, SOL has gained attention from both retail and institutional investors. Even during the bear market, institutional investors have held onto their SOL investments, showing confidence in the project’s future potential. As a result, beginner investors looking to buy cryptocurrencies can consider SOL a safe choice for a relatively long-term approach.
In 2022, SOL ended the year at nearly $10 per token. However, this cryptocurrency has been bullish in 2023. Solana tested the $25 range in February 2023, before correcting to a current price of $20. The token has still doubled since the start of the year. As of now, Solana has a market cap of $7.9 billion.
Let’s take a quick overview of the SOL crypto price trajectory;
- Anatoly Yakovenko created the Solana Proof-of-History layer-1 blockchain protocol in 2017, intending to be censorship-resistant, scale transaction speeds, and reduce costs.
- Solana’s first block was created in March 2020.
- SOL witnessed a solid uptick in institutional and retail investor interest as it clocked in over 18,000% growth in 2021.
- This uptrend pushed the Solana crypto price toward its ATH on 6 November 2021.
- By the end of 2022, SOL corrected along with the rest of the crypto space. The token traded as low as $10 by the start of 2023.
- Currently, SOL has regained momentum, trading at $20 per token.
Crypto assets are a highly volatile unregulated investment product.
Solana Price Prediction 2023
Beginners looking to invest in cryptocurrencies need to consider the ramifications of factors that could affect a token’s value in the short and long term.
From a relatively short-term perspective, the Solana price today could offer a high ROI opportunity, especially as the project becomes one of the top choices for exploring NFTs and DeFi apps.
In July 2022, the co-founder of LinkedIn and tech tycoon Reid Hoffman announced the release of NFTs based on Solana technology featuring visuals produced by OpenAI’s DALL-E 2 AI software. The billionaire entrepreneur broke the news on Twitter, declaring that the initial NFT will be put up for bid on Magic Eden, the largest Solana NFT platform.
Solana hosts several NFT marketplaces, including Solanart, Metaplex, and Magic Eden. Given this, an increase in the popularity of NFTs may have a corresponding impact on the Solana price chart.
Solana quickly became a leading crypto platform, boasting nearly 139 billion completed transactions. The project boasts low transaction costs, averaging at just $0.00025, making it an economical alternative to its competitors. The network boasts a strong level of security, with 2,288 validator nodes, positioning it as one of the most secure blockchain networks.
Buyers can expect the price of Solana to flatten in the $25-$47 range, as that range has empirically exhibited a high level of liquidity. A close above this price range would reflect an intense buying pressure that could help the altcoin match its March 2022 price levels near the $80 region.
Considering these factors, an achievable target for Solana forecast in 2023 stood at the $47 level. As per Changelly, Solana could peak at $41.8 by the end of this year. Moreover, DigitalCoinPrice predicts that SOL could touch the $51 mark by the end of this year. In the meantime, the $15 baseline could continue supporting the altcoin’s retracements during the year.
Solana Price Prediction 2024
Messari’s State of Solana Q4 2022 report, published on 20 January, highlighted a 78.8% Year-on-Year (YoY) Increase in average daily transactions. Despite the ongoing bear market, this metric revealed a substantial uptick in user engagement over the past year. Should this trend continue, the platform’s native token SOL could continue its gradual surge as it heads into 2024.
On the other hand, Solana saw a 96% YoY decrease in its Total Value Locked and a decline of 36.9% in total NFTs. The inability of the broader market to display a strong recovery can pose hurdles in Solana’s recovery path.
Assuming the broader market heads into a relatively bullish zone by 2024, the Solana price forecast for 2024 is somewhat brighter. Changelly has presented a Solana forecast for 2024 that suggests SOL could reach the $57 mark by next year. However, it is worth noting that the immediate next resistance barrier after $57 stands at $80. Thus, any breach above the $57 level could expose bulls to a 40% upside.
Solana Price Prediction 2025
It’s worth mentioning that Solana’s network has a history of experiencing outages, and this has been a persistent issue. Will these outages persist and potentially harm the long-term prospects of SOL? It’s too early to say. However, some experts predict that Solana’s network will continue to encounter outages in the future.
Despite these challenges, Solana has been working towards improving network stability and reliability. The platform is also expanding its ecosystem by adopting NFT marketplaces, compatibility with Ethereum Virtual Machine, the promotion of Solana Pay, and the launch of Solana Mobile. Solana has gained popularity among decentralized finance (DeFi), NFT marketplaces, and gaming communities.
Should the platform effectively work on the outages issue, it could continue gaining more users through its expanding network.
A Changelly prediction report stated that the highest and lowest Solana prices for 2025 will range between $81 and $49. It is estimated that the cryptocurrency will have an average trading value of approximately $65 in 2025. Other coin analysts at DigitalCoinPrice believe that Solana has the potential to reach a value of $78 by 2025.
Solana Price Prediction 2030
From a relatively long-term perspective, Solana’s decision not to implement sharding is based on recognizing the security risks associated with these isolated network segments. As a result, Solana’s vulnerability may become apparent if Layer 2 scaling solutions prove to be successful for other cryptos, including Ethereum.
As the frequency of network hacks and downtime incidents increases, the crypto industry may emphasize decentralization and security over speed. This shift could hurt Solana’s reputation, causing projects to move away and unlock value from the system.
However, ‘Censorship resistance’ is crucial in ensuring the uninterrupted flow of information in financial markets. This feature holds great significance in the DeFi world as both retail and institutional traders tend to favor blockchain networks that are fast, cost-effective, fair, transparent, and less vulnerable to malicious attacks.
Unlike many other Layer 1 chains, Solana aims to enhance Ethereum’s market share by implementing its primary goals of speed, affordability, censorship resistance, and an open and fair network. By doing so, Solana is poised to attract billions of dollars worth of investment as price discovery plays a significant role in determining market trends, making SOL a promising long-term crypto investment.
According to Changelly, the year 2030 could see the highest SOL price reaching $520.18, although it is also possible for it to decrease to $447.27. Therefore, the average trading price for SOL in 2030 is projected to be around $459.55. However, the DigitalCoinPrice team predicts a different outcome, with a peak price of $233 in 2030.
Crypto assets are a highly volatile unregulated investment product.
Solana Price Potential Highs & Lows
Investors buying Bitcoin are familiar with the instability in the crypto market. SOL is no exception, as the coin’s value has seen abrupt fluctuations with sudden peaks followed by sharp drops, sometimes within days.
When making our SOL price forecast, we observed critical regions of support and resistance on the price chart, which are vital to consider for future reference. These zones will result in periods of stability or rejection, resulting in increased short-term volatility.
The information below highlights these areas, giving you an idea of what to look for in the coming years.
Year
Potential Low
Average Price
Potential High
2023
$15
$31
$47
2024
$25
$41
$57
2025
$49
$65
$81
2030
$150
$191.5
$233
Where to Buy Solana?
With a thorough understanding of our short and long-term SOL price projection, let’s focus on the investment process.
If you are interested in purchasing SOL, you must create an account with a reputable crypto exchange that lists SOL as a tradeable asset. It becomes essential to choose from one of the best altcoin exchanges considering the security concerns, especially with the recent FTX meltdown. There are several options, but we suggest using eToro as the most popular cryptocurrency trading platform.
eToro – Best Crypto Trading Platform with Low Fees in 2023
eToro is a social trading platform that provides a simple and accessible way for traders to buy and sell stocks, cryptocurrencies, commodities, and more.
The project has a unique feature called CopyTrader that enables users to copy the trades of more experienced traders, making it easier for beginners to start trading. eToro has a well-established reputation for being a secure platform regulated by various authoritative bodies such as the FCA, ASIC, CySEC, FinCEN, and FINRA.
Moreover, the platform offers cost-efficient trading due to its straightforward fee structure, which involves a flat 1% charge on each transaction and a bid-ask spread.
Furthermore, eToro enables traders to start investing in cryptocurrencies with minimal funds, as the platform supports fractional investing and allows opening trades with just $10.
One of the standout features of eToro is its community aspect. Users can connect with other traders and discuss strategies and market insights. This feature can be especially helpful for beginner traders looking to learn more about the markets.
Lastly, eToro offers eToro Money, one of the best crypto wallets available, which can be downloaded at no cost and is equipped with the latest security measures and compatibility with a vast array of crypto assets.
Pros
Cons
Crypto assets are a highly volatile unregulated investment product. No UK or EU investor protection.
Is Solana a Good Investment?
Although it has seen a decline of over 90% from its all-time high at press time, Solana has still seen a substantial increase of 4,645% since reaching its lowest point in May 2020.
The growing popularity of Solana throughout 2021 was a significant factor in the listing of the coin on most crypto exchanges. The continued expansion of access to SOL will lead to a rising volume of trade, which in turn will drive the Solana coin price higher in the coming years. The popularity of DeFi projects also contributed to Solana’s success, as the “DeFi Summer” trend fueled growth in the DeFi space.
One of the significant challenges facing the Solana community is the tendency for users to delegate their stake to the biggest validators, who are considered the most trustworthy, rather than staking and validating themselves. This preference is driven by the high cost and technical expertise required for the latter.
This raises the issue of Solana not being adequately decentralized, which could harm investor sentiment toward SOL. Nonetheless, from a long-term perspective, SOL could address these issues and continue gaining user trust. But investors should effectively diversify their portfolios to mitigate their overall risk.
As a result, they might consider new crypto projects like Fight Out that have recently launched their presale.
Fight Out – Upcoming Crypto Offering M2E Rewards for Completing Daily Workouts
Fight Out encourages users to reach their fitness goals by incentivizing them to stick to their exercise regimen. The project gives M2E rewards for finishing daily workouts.
The highly-anticipated IEO of the M2E platform will launch on 5 April on a centralized exchange.
This CEX launch is expected to boost the value of its token, $FGHT, to $0.033 USDT. Before the official launch, potential buyers have the opportunity to purchase $FGHT tokens at a discounted rate of $0.02610 USDT per token.
The project’s M2E app motivates users to stay engaged by earning its in-app currency, REPS, through daily fitness challenges. The prospect of earning REPS, which can be redeemed for premium benefits and NFTs, further encourages users to participate in workouts and challenges.
Fight Out offers an immersive experience by allowing users to create custom NFT Avatars to reflect their actual-life fitness progress. This provides a clear view of their fitness journey and inspires users to reach their goals.
Moreover, the associations with famous MMA athletes from the UFC, like Amanda Ribas and Taila Santos, have gained a strong reputation for Fight Out in the fitness community.
Fight Out’s whitepaper thoroughly explains its features, giving users a complete understanding of what it offers.
$FGHT Purchase Bonuses & Tokenomics
The Fight Out token, $FGHT, operates on the Ethereum network. During the presale stages, a total of 900 million tokens will be available for purchase.
$FGHT tokens give users access to platform tournaments and offer a 25% bonus on REPS purchases. To incentivize early investment in $FGHT, Fight Out is offering a starting bonus of 10% for purchases of $500, which vests over six months. Stay informed about the latest updates by joining Fight Out’s Telegram group.
Since the start of the presale, Fight Out has raised more than $5.2 million.
Presale Started
14 December 2022
Purchase Methods
ETH, USDT
Chain
Ethereum
Min Investment
None
Max Investment
None
Fight Out - Next Big Train-to-Earn Crypto
SOL Price Prediction – Conclusion
In conclusion, this guide has outlined SOL crypto price prediction from 2023-2030 after considering technical, social, and macroeconomic factors. Despite a massive price correction in 2022, SOL has doubled in price since the beginning of 2023. If it can continue its recently gained momentum to break critical resistance barriers, SOL’s long-term prospects seem promising.
As an alternative investment option, FGHT is one of the best 2023 cryptos to invest in and close to selling out its presale. New move to earn crypto projects potentially have higher growth potential with their lower market cap.
Fight Out - Next Big Train-to-Earn Crypto
FAQs
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This article was written for Business 2 Community by Yash Majithia.
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