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Wednesday, March 29, 2023

Solana (SOL) Price Prediction: Why 500 dollars by 2022?

Over the first 9 months of 2021, the SOL token saw its price multiplied by nearly 100. An increase which suggests an optimistic forecast for the future price of the asset. With a level that could, according to some models, exceed $ 3,000 in 2030.

While the qualities of the project are recognized by all, particularly in terms of costs and speed of processing transactions, the question of forecasting Solana’s price arises. Whether in the medium or very long term. Here, we will seek to see how the asset could evolve in the months and years to come. (Also Read: Solana (SOL) Price Prediction: Ripple left behind, Solana in the fast lane)

Feedback On The SOL Token In 2021

As for the whole crypto sector, the year 2021 will have been rather good for the price of Solana . Good, not to say excellent over the last quarter, as shown in the graph below:

As the asset moved to $ 1.50 at the start of the year, investors quickly realized that the Solana ecosystem had the potential to compete with DeFi behemoths like the Ethereum network. As of February, assets exceed the $ 10 mark for the first time. Before experiencing a phase of continuous rise until mid-May. A token is then exchanged for more than 50 dollars.

The Solana project will then experience its first phase of decline, in line with the dynamics then reigning on the crypto market. With the spearhead, the price of Bitcoin . But this fallback phase will remain very timid and paradoxically positive for the token. In fact, during this period, investors overwhelmingly kept the assets in their portfolio. Proof of total confidence in the project. As the crypto market reboots at the end of July, the SOL token is trading for just over $ 22. This is the start of an exponential rise for the asset.

The token already hits the $ 70 mark barely a month later, in mid-August. The consolidation phase will also be very positive since the asset will see its price only slightly drop. Solana then resumes her walk towards the summits. On August 30, assets broke the $ 100 mark before surpassing the $ 150 mark a week later. The $ 200 threshold will be passed 3 days later for an ATH of $ 215. A phase of correcting the project will then follow. At the end of September, a SOL trades for around $ 135.

At the time of writing, the token is priced at just over $ 159 . Making Solana the seventh crypto project. For a marketcap of over 46 billion dollars. In 9 months, the token saw its price multiplied by 100.

2022: The Year Of Continuity For Solana?

If 2021 has been very glitzy, some believe that the increase has only just begun. Because Solana is deployed on the themes of DeFi and NFT whose enthusiasm can only be beginning. But the future of the token does not entirely depend on it. Indeed, the year 2022 should see the deployment of the Ethereum version 2.0. A deployment that could also change the game and influence the course of Solana. On the rise as well as on the fall.

The network also intends to strengthen its position as a facilitator of crypto transactions . With a target of 200 to 300,000 transactions per second. A level that would allow it on this point to compete with the payment giant Visa. Implementations should be made in this direction during the year 2022.

Solana Forecast: What To Expect For 2022?

To establish estimates, predictive algorithms are tools to consider. These allow, taking into account past price fluctuations, to establish models aimed at predicting the future price of an asset. Of course, these models cannot be 100% reliable and many limitations can be put forward.

Either way, the prediction algorithms seem to agree on a bullish momentum for the Solana project. Thus, if we take the data from WalletInvestor , the platform estimates that a SOL token could be worth nearly $ 400 at the end of 2022. In a price range between 353 and 437 USD. The positive medium-term trend also seems to be validated by the DigitalCoinPrice models . The platform estimates that the Solana token could be worth more than $ 280 by the end of 2022.

At TradingBeasts , optimism seems more measured. With a price estimate that fluctuates between 146 and 215 dollars for the end of the year 2022. It is the reverse on LongForecast which establishes the forecast of Solana the most optimistic among the 4 platforms that we studied. With a token that could be around $ 600.

The following table shows the averages established by the different prediction platforms:

PlatformEstimated price at the end of the year 2022
WalletInvestor$ 393
DigitalCoinPrice$ 281
TradingBeasts172 $
LongForecast$ 592

Anyway, the adoption of Solana will also depend on the management of projects like Bitcoin but especially Ethereum. A data that obviously does not take into account the different prediction algorithms.

Solana Forecast: Where Will The SOL Token Be In 2030?

Solana forecast: Where will the SOL token be in 2030?

If the exercise of prediction is difficult over a horizon of one year, it is even more so when we reason over a horizon close to a decade. All the more so in a relatively new and very innovative sector such as cryptocurrency.

The few institutions to establish forecasts also seem to be moving towards a clearly bullish momentum. Thus, according to Trading Education , the Solana token could be exchanged for more than $ 2,100 on the markets by 2030. The Cryptocurrency Price Prediction platform expects a token to be around $ 3,000 in 2030.

On a purely technical level, many observers note that Solana could end up replacing the Ethereum network. This would inevitably result in an increase in the price of the Solana. However, this argument is also reversible for the active. Within 10 years, it is impossible to rule out the arrival on the market of a new project that could overshadow Solana.

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