Over the past year, many events have led to a crypto market correction. 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 – 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 $23 per token.
Crypto assets are a highly volatile unregulated investment product.
Solana Price Prediction 2023
Solana (SOL) has experienced a surge of 10.1% in the last 24 hours, reaching a monthly peak of $22.50, and causing the liquidation of almost $2.7 million in short positions.
The fast and scalable blockchain network enables developers to build DeFi and NFT projects on the platform. The high-speed and low-cost network has gained significant traction among users, resulting in SOL’s recent price gains.
The upcoming launch of the Saga smartphone, powered by the Solana blockchain, has also increased excitement. With a strong correlation to Bitcoin projections, SOL’s price gains are attracting interest from crypto traders. The Saga Mobile launch on April 13th is a key milestone for SOL holders.
Solana’s technical analysis from the daily time frame provides a mixed price prediction for April. The price falling to the $20 horizontal support area for the third time with lower highs could signal a breakdown. However, the price recently moved upwards, creating the first higher low since the breakdown.
A correction may lead to a fall to $12.13-$12.86, while a break above $23.92 could indicate a bullish trend and a rise to $27 in the short term. SOL’s price could reach a target of $40 this year and a possible upside breakout from the descending parallel channel is likely, but a pullback in the short term could invalidate the prediction.
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.
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.
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 still at the presale stage:
Love Hate Inu – A Memecoin With a Unique V2E Concept
Love Hate Inu announced its new CEO, Carl Dawkins, recently. He was formerly head of growth at Tamadoge and adviser to the UK All-Party Parliamentary Group on Crypto and Digital Assets. Dawkins wasted no time in promoting the project, appearing on a BitBoy Twitter Spaces on April 8th, which attracted 2,500 virtual attendees, and hosting an AMA on April 10th for the Love Hate Inu community.
During the discussions, Dawkins shared his expertise and analyzed topics such as the crypto industry in the US, exchange listings, and how to mitigate selling when the coin lists. He also discussed the lessons he had learned from his previous project, Tamadoge, which had experienced a rapid rise in value before falling due to profit-taking.
Dawkins believes that Love Hate Inu’s staking mechanism will encourage token holders to stick with the project, despite the market’s volatility. This will also protect investors’ assets and provide real-world utility to the token, which is otherwise absent in popular memecoins.
Love Hate Inu plans to generate returns for investors by creating partnerships with brands and metaverse platforms, in addition to the standard vote-to-earn rewards. The LHINU tokens are currently given as voting rewards, but other rewards such as NFTs are also possible.
Through partnering with brands, Love Hate Inu can create polls about new products and get honest feedback from an engaged community. Users who participate in these polls may receive NFTs as a reward. Love Hate Inu also plans to partner with emerging metaverse projects, allowing users to vote within the digital world.
Love Hate Inu has taken an unusual approach by releasing 90% of its total supply of 100 billion LHINU tokens during the presale. The presale is divided into 8 stages, with the price of LHINU tokens increasing in tranches.
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, LHINU is potentially one of the best 2023 cryptos to invest in and close to selling out its presale. New crypto projects often have higher growth potential with their lower market cap.
Love Hate Inu - Next Big Meme Coin
- First Web3 Vote to Earn Platform
- Latest Meme Coin to List on OKX
- Staking Rewards
- Vote on Current Topics and Earn $LHINU Tokens