The summary of this Solana price prediction tells us that the opinion of respected crypto experts and technical-based analysis combined predict that Solana has the potential to rise by up to almost 1000% between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy Solana.
“Fiat dominated banks refusing to work with cryptocurrency are like bookstores refusing to work with the internet. Only time will tell.”― Olawale Daniel
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Latest Solana news
- Cardano (ADA), Solana (SOL) are increasingly seeing institutional bets
- Bitcoin price above $50K, Cardano and Solana at all-time highs as crypto market surges
When it comes to the two powerhouses of the crypto sphere, Bitcoin and Ethereum, it isn’t all plain sailing. Both faces increasing issues over both speed and scalability. This has led altcoins like Solana to appear with the aim of addressing these issues.
With recent price surges plunging this innovative coin into the spotlight, demand for an accurate Solana price prediction has only grown. Increasingly viewed as an effective, fast, secure, and censorship-resistant blockchain with the ability to be adopted globally, the number of Solana investors is only growing.
But are you wondering if it’s too late to start investing in Solana? You’re not alone, many people are curious about whether investing in this innovative digital asset now is a good idea. I was one of those people until I began to use a range of factors to research the future price of Solana such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in Solana. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand for this coin is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our Solana price prediction aims to answer all. But first, let’s start with just what Solana actually is and how it works.
What is Solana?
Created in 2017 by a software engineer named Anatoly Yakovenko. Solana was designed to improve the traditional throughput problems in the blockchains of major crypto players like Bitcoin and Ethereum. In the quest for enhanced scalability, Solana began developing a trustless and distributed protocol.
After developing a new structure for verifying transactions and a more efficient consensus algorithm, Solana has developed itself massively in recent years. Many analysts suspect that it could become a viable competitor to major players like Bitcoin and Ethereum in the next few years.
The Solana platform comes with its own native cryptocurrency called the SOL token. With a maximum supply of 489 million, SOL has a range of equally conventional and unique uses. The native currency of Solana can be used for everything from micropayments to staking. The latter function allows SOL holders to earn passive income on crypto assets that they intend to hold onto for long periods.
The progress of Solana has not gone unnoticed and the innovative platform has gained the attention of major international businesses from Apple and Google to Twitter and Microsoft. With a growing list of significant investors, many suspect that Solana has a bright future ahead indeed.
Pros and cons of Solana
Like any cryptocurrency, Solana has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of Solana.
|✔️ The multiple technologies used provide faster speeds.||❌ Not the most environmentally friendly cryptocurrency due to its unattractive emissions.|
|✔️ Integration of various technologies provides a flawless process.|
|✔️ Solana shows major potential for further development.|
Do you still have questions about Solana? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about Solana to give you a better understanding of the original digital asset and its price potential.
Who uses Solana?
AAVE is used by those wishing to borrow cryptocurrency to invest in businesses, projects, or otherwise. It’s equally used by lenders looking to loan their digital assets out in exchange for a stream of passive income.
How does Solana gain value?
Like most cryptocurrencies, the value of Solana is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and continuous growth of significant partnerships, support for Solana is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can Solana reach $100 per token?
Based on its recent price surges and innovative nature of being a platform with a growing list of users and high-profile investors alike, it’s possible that Solana could reach $100 per token in the long term.
Where do people buy, sell, and trade Solana?
You can buy, sell, and trade Solana from any reputable crypto trading platform. If you are a new investor, then we suggest using eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
Solana Price History
Although it was initially created in 2017, Solana only hit the market in April of 2020, meaning the price history of this altcoin is short but wild all the same. Its opening price of $0.79 dropped to $0.52 a month later before recovering and reaching its first ATH. First, it hit $0.99 by late June before surging to $1.84 by the end of July.
After already monumental gains, Solana continued to amaze investors when it hit another all-time high of $4.84 per token by the beginning of September before dropping to $2.96 at the end of the month. Although it hovered around $2 throughout November, selling pressure caused the price to drop to $1.47 by December.
But things began to look up for Solana in 2021 as the price began to rise again. This challenger to Ethereum surged once more and brought significant gains to investors and now sits around $35 per token.
Expert analysis of the Solana price potential
One of the best tools we can use to try and determine the potential future price of Solana is to analyze the opinions of various crypto experts. Let’s delve into four estimated growth outlooks for various industry experts and analysts.
Coin Price Forecast
Overall, Coin Price Forecast is bullish on the SOL price prediction. Based on Solana continuing to build partnerships with influential organizations and persisting with being a unique model that retains a solid support base, they believe it has the potential to reach around $63.82 per token by the end of the year and a price of $235.39 by the year 2025.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to Solana, they are even more bullish than Coin Price Forecast. Over the long term, WalletInvestor predicts that the price of Solana could reach somewhere around $391.385 by the end of 2025.
DigitalCoinPrice is fairly bullish on its Solana outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts it to reach $50.41 by the end of 2021, $69.51 by the end of 2023, and finally, a figure of $102.3 by 2025.
Another rather bullish expert analysis on Solana is LongForecast. They predict the price of Solana in 2021 to potentially reach up to $35.08 by the end of the year. By the end of 2023, they expect it to reach $97.21. But they expect the price to drop to $104.15 by the year 2025.
So from over $0.049 in the short term and up to $1 in the long term, the overall expert analysis on the future price of Solana is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the Solana price potential
Now we move onto technical analysis to try and predict the future price of Solana. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
Solana Price Prediction 2021 – 2022
Since the beginning of 2021, the price of Solana skyrocketed by 466% from $5.93 to its current price of $33.59. It’s predicted that the Solana price will rise an additional 90% in the second half of 2021 and it’s then expected to close the year at $63.82. A year-to-year change of +976%.
Solana Price Prediction 2022 – 2023
After starting the year at $63.82, it’s predicted that the price of Solana will rise to $92.54 per coin in the first half of 2022, it’s then expected to gain $27.76 and finish the year at $120.30, which is a +258% gain on the current price.
Solana Price Prediction 2023 – 2024
After starting 2023 at $120.30, Solana is expected to rise to a figure of $147.37 midway through the year before going on the rise again and ending the year at $173.90 at an overall annual increase of 418% from the current price.
Solana Price Prediction 2024 – 2025
After starting 2024 at $173.90, Solana is expected to rise to $199.99 halfway through the year. The second half of 2024 is expected to see the price of Solana end the year at an even higher price than the first half of 2024 at $212.34. That’s an overall annual increase of 532% on the current price.
In conclusion, Solana’s journey to becoming a faster, cheaper alternative to major crypto players like Ethereum is moving fast. Many experts and analysts have deemed Solana as a potential competitor to Ethereum in the near future.
In addition, the growing range of major investors into Solana is another indicator of the potential of this digital platform. Its recent price surges have shown that this is an asset with the potential to skyrocket. If it continues to be a major competitor to major crypto platforms and continues building its portfolio of investors, we may see another Solana bull run in the very near future.
Whilst many people can see the significant potential in Solana, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy Solana?
Solana is available to buy and trade on eToro alongside 18 other cryptocurrencies. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on Solana. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. Solana is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of Solana and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.