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The future of Solana(SOL)

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Solana is not exactly a new cryptocurrency, but it has only gained traction and widespread popularity in the last few months. Its astronomical rise upwards has attracted the attention of many investors, helping them to discover the project’s high usability and incredible functionality.

With so many people jumping in on the Solana hype, many are left wondering whether the coin is a good long-term investment or if they should dump whatever coins they have bought before it plunges deeper than it has already.

Unfortunately, we cannot give you financial advice and won’t be able to tell you what to do with your coins — that is something you should decide for yourself. However, Solana is a really interesting project, and we wanted to take a look at what potential it may have in the near future.

Solana is a highly effective, fast, censorship-resistant, and incredibly secure blockchain. It utilizes blockchain technology’s permissionless nature to provide efficient DeFi (decentralized finance) solutions.

Although the initial work on the project began in 2017, and it was launched back in March 2020, it was only noticed and found acclaim in 2021. The coin quickly climbed up the market cap rankings, going from position 42 in February 2021 to rank 7 in September of the same year. How did Solana’s price rise so fast?

Solana has excellent fundamentals and is an incredibly efficient coin, but the catalyst that catapulted SOL coin price to the moon is an NFT project called the “Degenerate Ape Academy”. Launched in mid-August on the Solana blockchain, this project sold over 10,000 “smoothest brain” apes in a matter of minutes.

In contrast to the highly popular NFT launches on Ethereum, the minting of the Apes went very smoothly: no congested network, no inflated transaction fees — everything was (comparatively) in order. As a result, many people who have previously never heard of this innovative project noticed Solana and the benefits it provides. This led to a month-long Solana’s price spike.

Solana uses a brand-new consensus mechanism called proof-of-history, which allows the network to be extremely fast and effective.

Solana does everything Ethereum 2.0 promises to be able to do, but 20 times faster. It offers a throughput of 50 thousand transactions per second at layer one, and has the scalability to go up to a million. In addition to this, Solana has basically no transaction fees.

The Solana network has over 500 nodes, making it much more decentralized than blockchains like Ripple or Stellar that have fewer validator nodes. The only requirement to make a node on Solana is having 3–4 thousand USD worth of hardware, which may seem like a lot, but is a low entry barrier when you compare it to other cryptocurrencies. This, in addition to its block time of only 0.4 seconds, gives Solana the potential to become one of the best decentralized blockchain platforms in the industry.

Solana (SOL) price only started rising back in February, when the whole crypto market was mooning. Unlike other crypto giants, however, Solana price didn’t feel the crash in late spring of 2021 as strongly as Bitcoin or Ethereum, although its price did decline.

After a rather slow and uneventful June and July, Solana price shot up in mid-August and continued to rise until mid-September. The cryptocurrency seems to be going through a correction at the moment as SOL price has been in a slow decline over the past few days. Solana has an All-Time High of $260.06 and its current price (at the time of writing this article) is $181.30.

Now that we’ve talked about the project and the coin’s price history, let’s take a look at our actual detailed Solana price prediction.

As we have mentioned previously, Solana seems to be going through a correction phase right now. It is difficult to say how hard this correction will hit the coin, whether its current price will be its lowest point in 2021 and if it will be able to recover afterwards and continue its climb upwards. However, we can still make some tentative price predictions.

If the attention SOL has grabbed turns out to not be enough, and its holders get affected by FOMO, SOL owners might sell off their remaining coins to try
and get some profit, plummeting the price of this cryptocurrency into the ground. However, unlike the usual pump-and-dump altcoins, Solana has not only the hype but also genuine interest in its functionality to back it up.

According to WalletInvestor, at the beginning of February 2022, the average Solana price will be ~$98 and by the middle of the month, it might exceed the $105 mark. By the end of the month, the average price would be ~$112 with a minimum price of $78 and a maximum of $115.

There are also more pessimistic price predictions. According to Longforecast, Solana could be traded at an average price of $89 in the beginning of the month. The minimum SOL price in February might hit ~$51, the maximum ~$100. At the end of the month, the average SOL price might reach $57.

Solana Price Forecast March 2022

Wallet investor has an optimistic forecast for the value of Solana in March. The average SOL’s price will increase from $114 to $134 during the month.

On the contrary, Longforecast predicts a decrease in SOL’s price from $57 to $48 within a month.

Cryptonews.com believes that at the end of March/the beginning of April it will be the end of the corrective wave with an average SOL price of around $109-$123.

Solana Price Forecast April 2022

According to the technical analysis from WalletInvestor.com, the SOL average price in early April could hit ~$135, the minimum price could be around $100, the maximum –~170. By the end of the month, Solana will cross the average price mark of $150.

In Longforecast.com it is believed that prices for Solana in April will fluctuate around $53.

According to data from Priceprediction.net the average cryptocurrency price in April will be ~$105, minimum $100, maximum $111.

2022 is when things can get a little more interesting. Forecasted Solana price may become less volatile by the beginning of next year, and if it manages to stay above the $200 mark, we may see considerable growth of SOL price in 2022. According to our Solana (SOL) price prediction, the cryptocurrency will stay in the $300 range in 2022, and may possibly go up to as far as $400.

If the upward trend continues and Solana doesn’t get dumped, we may see it reach $450 in 2023. However, when it comes to crypto, it’s better to be cautious. Our Solana price forecast estimates that SOL price will hover around the $400 mark in 2023.

If things go well, the price of Solana can hit $500 in 2024. That will strengthen its market position and firmly make it one of the top assets in the crypto world.

According to our Solana (SOL) price prediction, the coin may breach the $600 mark in 2026.

It is hard to make long-term crypto price predictions as the cryptocurrency market is highly volatile. However, we can make some wild guesses and estimates.

There is a possibility that the entire crypto industry will crash by 2030 due to strict regulations or a more innovative competitor coming to overtake blockchain and cryptocurrencies. However, that possibility is as much of a wild guess as that Bitcoin will oust USD and become the official currency of the United States.

Our Solana price forecast for 2030 is this: if the coin proves its worth and continues to be one of the top cryptocurrencies on the market, it can go up to as high as $3000 in 2030.

Experts seem to have wildly different opinions on the future of Solana and SOL price.

Coin Price Forecast has bullish predictions, expecting Solana to have a return of +236% by the end of 2025. They predict that Solana crypto prices will storm the $360 mark at the beginning of 2023. Additionally, they think that $1,000 is a very real possibility for Solana coin in the next 10 years.

On the other hand, David Cox, an expert at CryptoNewsZ, has a bearish outlook. According to his Solana technical analysis, the coin will hardly be able to stay at the $100 mark and is likely to drop below it in 2022 and beyond.

Same goes for Redditors, who don’t believe that the price of Solana has the capabilities to stay above $100. However, they (and other experts) do point out that everything will depend on how the public reacts to Solana and whether the current interest is just hype- and profit-infused, or is genuine belief in the capabilities of the Solana network.

Is a high risk, high reward type of asset a good fit for y
our investment portfolio? If so, then Solana may be the cryptocurrency you were looking for. Unlike many other fast-growing coins or tokens, Solana is recognised and praised by the crypto community for its technical superiority and efficiency, which gives the coin a good chance to stay afloat and keep growing in the future.

Solana is as fast as some centralized systems, making it highly future-proof. It has the potential to become the catalyst that will convince people to switch from centralized systems to decentralized ones. Essentially, Solana combines the usability of mainstream centralized platforms with the incredible security of decentralized ones.

If our Solana forecast is to come true, as well as the Solana price prediction (2022 and beyond) made by the experts and SOL investors at Coin Price Forecast, then the future price of this cryptocurrency may rise astronomically, making it a very profitable investment. Even if Solana doesn’t shoot for the moon, there’s still a chance it can become a good investment as long as it doesn’t crash. However, if it does crash, you will still be able to make some profit by short selling SOL currency.

Keep in mind that every cryptocurrency price prediction, including our Solana forecast, are not fully reliable due to the volatile nature of the cryptocurrency market and should not be seen as investment advice. Please do your own research before investing into any digital asset.

The price of Solana is falling because of frequent failures in the operation of the blockchain due to overloads. The second reason is the general bearish trend in the cryptocurrency market that emerged in early 2022.

However, most experts are confident that the observed decline in prices is temporary.

You can get solana either by buying with your credit card, bank transfer, exchange or by loan. Kuoinx would be a great platform where to get Solana(SOL).

Learn more about Kuoinx (Loan, exchange and interest): https://www.kuoinx.com

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