Digital currencies saw novel dimensions after the evolution past Bitcoin and Ethereum, often dubbed as Crypto monsters. Initially, when the world saw the advent of digital currency, Bitcoin was the only option despite the drawbacks. But it’s no longer the same! With more than 4,000 cryptocurrencies today isn’t the choice yours!
In the market for considerable years, Solana is the most preferred blockchain which aims to provide fast, secure, scalable, decentralized Apps and marketplaces. The network’s native token SOL is a fairly unknown cryptocurrency that recently gained a lot of attention in the crypto community.
Solana is one of the most talked-about digital assets in the crypto world lately. The network’s fundamentals and market position could attract investors around the world. Do you think is SOL a good investment? Read further to know everything about Solana Price prediction for 2021 and beyond.
|Market cap||$ 71,889,625,694.0000|
|Circulating Supply||$ 301,075,181.8717|
|Trading Volume||$ 4,416,033,194.0000|
|All time high||$ 245.6900 November 4, 2021|
|All time low||$ 0.5008 May 11, 2020|
What is Solana (SOL)?
The advent of the network dates back to 2017. It was Anatoly Yakovenko, a software developer in Dropbox, who mapped the plan. Later, he partnered with Greg Fitzgerald, a former worker in Qualcomm, and his ex-colleague to build Solana testnet. But what drove him to build Solana?
Anatoly understood that most networks then state immense time for the nodes to reach the consensus point. Also, most projects were having a hard time with multiple transactions. Some even limit the growth of the apps built on them. This became quite common due to a lack of scalability.
So, this software engineer desired to build an innovative and highly scalable network! And that’s what we call Solana today. However, Anatoly’s journey didn’t halt there. Solana testnet in 2018 and Solana Mainnet Beta in March 2020, shows the network’s consistent efforts.
Solana is a high-performing digital currency that runs on the blockchain which supports smart contracts and decentralized applications. The transactions are timestamped to maximize efficiency. It is a fast and secured blockchain providing the open infrastructure required for global adoption. The tokens are capped at 489 million, as of now and work on the PoS system. SOL tokens can also power micropayments happening over the network.
Solana has a particular hash that can be used to input data for every transaction. SOL has a unique feature called Gulf Stream which enhances the scalability. But the network’s enhanced scalability lies in its unique verification structure. Undoubtedly, the Proof of stake system requires the users to hold some SOL tokens to validate their transactions. But isn’t PoW a time-consuming process to validate transactions as it creates congestion in the network?
To overcome this issue, Solana operates with an additional system called the Proof of History. PoH timestamps every transaction on the blockchain before PoS does. The nodes on the network can establish blocks without having to match with the network. This saves so much time on validation and successfully increases the transaction speed per second.
Solana Price Prediction 2021
With a steady recovery in price, SOL traded at $1.60 during the start of January and by the mid of February, it smashed $10. Later, it surged further and moved at a comfortable range of $40 by the end of April. By May the price surged close to $50 to reach $58.30.
When the market crashed on May 19, most altcoins dipped to about 20%. But SOL surged substantially and didn’t fall prey to the collapse. Instead, it put many in a thunderbolt but boosted around 50%. This raised many eyebrows because even Bitcoin fell deep and just the lowest level, since this year.
Q3 -2021 Seems to the bullish for the altcoins, the Solana Price has set up for a massive journey northwards and looking to make its way in the top ten cryptocurrencies by market cap. August turned out to be a game-changer for Solana.
Yes, huge non-fungible token (NFT) sales resulted in a bull rally of the Solana and the price smashed its all-time high (ATH) $247.62 on November 4th, 2021. As an uptrend is underway the SOL price is anticipated to hit higher highs soon.
In the coming months, if Solana works on improving the centralization, the price might rise further and hit $300.44 to $500.07.
On the other hand, if the current supply dilutes in the coming days, then the price can move bearish and plunge deep to $70.71 to $100.19. However, carrying forward the current technologies and no remarkable improvements might let SOL price trade at averages of $150.91 – $170.
Solana Price Prediction 2022
At present, the stumbling block against Solana is the grounded blockchains like Ethereum and Cardano are updating their organization to beat the scalability problems, including long transaction times and high charges.
Nonetheless, the various headways of Solana could likewise make it more grounded against its rivals, including broadly anticipated upgrades that permit further developed cross-chain similarity among Solana and other SOL tokens. With the assistance of this redesign, a turnover in price is likewise anticipated. By 2022, the SOL Price will be around $500 to $750.
On the downside, due to External Factors or inconsistency in the platform, the altcoin price may hit the potential low level of $22.19. However, even if bears rule the market SOL price would be trading at an average price of $40.
Coinpriceforecast predicts the price of Solana could be $66.91 at the end of 2021. In the next 3 years, Solana could reach the highest price of $194.48 and by 2025 the price may hit $870.
According to WalletInvestor’s algorithm-based forecast, Solana could be an outstanding long-term investment. It would go up from $96.58 to $190.59 in the coming year. And by 2026, the price can hit $514.410.
According to Gov.capital, Solana would trade at $118.27 by the end of 2021.
As per the analysis of Digitalcoinprice, Solana will be traded at $53.35 at the end of 2021 and $108.26 by 2025.
Our Solana Price Prediction
As Solana is an emerging Defi coin, its price might likely boom. It might concentrate on certain collaborations to bridge its assets to Defi. Also, its delegated staking can attract many investors. So the price might surge high to $500.03.
However, on the other end, if the network delays the implementations in its Mainnet Beta version, the price can flip into lows. So, the token price might entangle down to $150.99.
|Year||Potential High||Potential Low|
Historic Price Sentiments
Solana initiated its journey in the crypto market on 10 April 2020 with a price of $0.79 according to Coinmarketcap. Later, the price declined to as low as $0.52 by mid-May. The price started to recover further and reached $0.99 at the end of June. Interestingly, the price spiked to $1.33 by mid-July and continued to swing after. The digital currency rose to $1.84 by the end of July. Heading towards an upward trajectory, the coin dramatically hit $3.77 by mid-August and further plunged to $2.82 by the end of August.
Effectively, SOL spiked to $4.84 by early September to reach an All-Time-High by breaking all its previous price records. Solana managed to reach its resistance level at $3.80 and failed to remain stable and dropped to $2.56. At the end of September SOL was trading at $2.96.
With certain variations, Solana managed to sustain at the $2 range throughout October. Although the price slumped to $1.35 by early November because of the high selling pressure. Later, the price started to recover and reached $2.41 by the end of November as Bitcoin continued its price rally. Solana declined further to $1.47 in December as the bears were headed into pulling the prices.
At the end of December 2020, SOL traded at $1.50. The altcoin has surged amidst severe competition and many even consider it an Ethereum competitor. Currently, 1 Solana equals $35.21.
Solana is considered a unique coin because it has features like scalability, low cost, and higher transaction speeds.
No, SOL cannot be halved as it is only mined.
Solana can transact up to 50k per second.
Solana can be traded on exchanges like Binance, OKEx, CoinEX, CoinDCX, Huobi Global, and many more.
There are several signals indicating Solana has a bright future. Its utility makes it a great choice for corporate crypto adoption. Perfectly positioned to offer fast, secure, and transparent solutions.
SOL is an extremely attractive investment chance as the native currency of this blockchain makes it resilient and efficient. Well, SOL Price is expected that the price of Solana might reach the $100 mark by 2021.
Disclaimer: This piece of article is only for informational purposes. It is not trading or financial advice.