The Solana blockchain has been a well-known player in the crypto world since its launch in 2020. It reached its all-time high of €242 in late 2021, but after this, Solana went into a slump. It returned to the €9 mark in late 2022. What can we expect from Solana in the future? We look at the Solana price prediction from experts.
Table of Content
- Solana price prediction 2023
- Current Solana price
- Solana long-term prediction
- Solana short-term price prediction
- Recent developments that have impacted Solana
- Could Solana become worth 1,000 euros?
- Solana price history
- What is Solana?
- What is SOL?
- Other price predictions
- Experts from Digital Coin Price predict that Solana will rise to €223.50 in the next few years
- The judge's ruling in the FTX lawsuit is going to play a big role for the Solana price
- The Solana price has recovered well since the bankruptcies of Genesis, FTX and Alameda Research
- Solana's technical advantages are attractive to users and investors
- One should never assume a prediction, the Solana price can never be predicted
Solana price prediction 2023
Currently, the Solana price stands at €49.21 per SOL. An important resistance line appears to be around €55. If the Solana price breaks through this, the Solana price could rise to €60.60 before Solana faces resistance again. The share price was last updated on 14 November 2023.
Will the Solana price still rise in 2023? The crypto market has been very active over the past month and seems to be recovering from the bankruptcies of Genesis, FTX and Alameda Research. The entire market has benefited from positive news about a possible Bitcoin Spot ETF, resulting in an impressive 140% rise in the SOL price within a month. The question now is whether the market can remain bullish. The Solana network is showing resilience after a difficult period and it seems that things cannot get much worse for Solana. The price of Solana still remains mainly dependent on external factors such as the status of the crypto market and developments as described above. But what can we still expect from Solana in 2023? Digital Coin Price predicts a Solana price with an average price of €103.98 and even a maximum Solana price of €107.53 .
Current Solana price
The chart below shows how much Solana is worth.
Solana long-term prediction
Are you planning to HODL Solana for the long term? Then you should see what experts say about Solana price prediction in the long term. Below are named the minimum, average and highest Solana price per year according to DigitalCoinprice .
|Year||Minimum price||Average price||Maximum price|
The Solana price prediction in 2024
Analysts expect a sharp rise in the Solana price to a maximum of €122.31. Solana has found its way up and the prediction is that 2024 is a time to invest in Solana. They expect Solana to rise.
The Solana price prediction in 2025
A year later, in 2025, the SOL rate is expected to exceed €144.33. Digital Coin Price additionally indicates in their Solana prediction that an average €176.37 per Solana will be reached.
The Solana price prediction in 2026
Relative to now, experts expect Solana to rise 454.18% from now until the end of 2026. The Solana price prediction for 2026 averages €218.04. The 2026 high is expected at €223.50.
The Solana price prediction in 2030
For true Solana HOLD'ers, we look at the figures in 2030. For this, figures from Digital Coin Price are used. For example, the Solana price prediction in 2030 is up to €507.47, according to these experts.
Solana short-term price prediction
Tradingview has developed a tool based on technical analysis that generates a Solana price prediction for the short term. Keep in mind that the tool is not a guarantee for the future, but only an indicator.
Recent developments that have impacted Solana
The restart of the Solana blockchain
A fast network that can handle incredible transactions. That is Solana's vision. Yet they did not succeed in this immediately. In fact, in September 2021, the network suffered from overloading, rendering the system unusable for 16 hours. Validators were unable to validate transactions thanks to the overload. After a restart by node administrators, the network went back online.
The real reason for the overload is not clear. It is suggested that Solana was dealing with a DDoS (Distributed Denial of Service) attack, which caused many transactions to suffer. It is also suggested that the launch of Solchicks (DEX) caused the overload.
Whatever the exact reason, that node administrators are needed to reboot the network raises questions. Is the network even decentralized? That is a sensitive issue among the crypto community. And decentralization is exactly what cryptotechnology stands for. On top of that, all the tokens were created by the owners of Solana, of which only 50% of the available tokens were put into circulation.
Network failures on Solana's blockchain
At least nine times in 2022, Solana's network went down, rendering the network non-functional. The last was on June 1, 2022, when the network was down for four and a half hours. A runtime bug prevented transactions from completing properly, causing the network to malfunction.
An accumulation of problems that hurt the reliability of the platform. Still, analysts who make a Solana prediction based on algorithms see a bright future for Solana.
The FTX crash and the bankruptcy of Alameda Research
The FTX crash and the bankruptcy of Alameda Research had a big impact on the Solana price. After all, they had invested a lot of money together during the 2021 investment round, giving them a large number of SOL. The Solana price fell from €28 to €9 in a few weeks due to a panic sell-off when it was announced that FTX was in trouble . On top of that, previously locked-in SOL were due to be released that period, further depressing the price. The Solana community could breathe a sigh of relief , as it was decided to postpone the release.
Could Solana become worth 1,000 euros?
It is certainly possible for Solana to become worth €1,000 in the future. In the short term, however, this does not seem possible, but Solana has the potential to become 1,000 euros in the coming years. Still, the price remains dependent on several variables, including market developments, technological advances and broader economic factors. According to experts, Solana could be worth €953.61 by 2032. Should this actually happen, it could just be that Solana could reach €1,000. Of course, this still takes a very long time and it is recommended not to assume this. There are no guarantees in the crypto market, which is why predicting price movements is very difficult.
Solana price history
Solana's mainnet was launched in March 2020. From then on, SOL coin represented the value of Solana.
Solana price 2020
In 2020, the SOL coin was first valued at €1.12 per SOL coin during its launch. From the launch, Solana briefly faced a sell off from early investors. The Solana price reached its all-time low of €0.47 per SOL on 11 May 2020. This all-time low remains the low point of the Solana price today. For almost 3 months, the Solana price continued to move between €0.65 and €0.47 per SOL coin. At the end of spring on 1 September, Solana reached its all-time high of the year. A price of €4.42 was reached.
Solana price 2021
During the crypto bull run in 2021, Solana really started to gain a foothold and the coin managed to reach the top 10 in CoinMarketCap. This was the year Solana flourished, despite problems on the network. Investors remained confident in the network when the network went down in September. We then saw a short-term decline, but Solana then picked up its momentum again. The coin rose from a price of €26 at the end of July to a new all-time high of €242 per SOL coin on 6 November.
Solana price 2022
By the end of 2021, the bull run was over and the crypto market fell into a downtrend. Solana fell from its all-time high of €242 to €3.9 in two months at the end of January 2022. In 2022, many crypto providers faced liquidity problems. This caused Solana many problems. The much-discussed bankruptcy of Alameda Research and FTX had a major impact on Solana's ecosystem. After all, they were major investors of the platform and together invested a lot of money in Solana. As such, they own a lot of SOL. The news created a domino effect and caused the price of solana to fall sharply in a few weeks. Indeed, the coin fell from €33.5 per SOL to below €9 per SOL. A drop of more than 95% from its all-time high in 2021.
By the way, the entire Solana price chart can also be seen above.
What is Solana?
Solana is a crypto called the new generation blockchain by its creators. The platform is known for being a very fast network that provides up to 700,000 transactions per second can process. This makes Solana one of the fastest blockchains . Block time is also very fast on the Solana blockchain. Block time is the average time between tracing blocks. The blockchain is capable of tracking within 400 milliseconds tracing the next block. Compared to Ethereum (every 10 seconds) and Bitcoin (every 10 minutes), this is extremely fast. Solana is therefore seen by many as a formidable competitor to Ethereum. In addition, at the time of writing Ethereum's transaction fees are hardly interesting for small transactions due to its high prices. At the time of writing, the transaction costs for executing a DeFi transaction are between €46 and €93 per transaction, and executing an NFT transaction can be as high as €138 per transaction.
How many Solana coins are there?
At the time of writing, there are 562,465,342 SOL tokens, of which 422,396,844 are in circulation. The total number that will ever be released is not known.
What is SOL?
Solana's crypto coin is the SOL coin and represents the value of Solana. This coin has climbed into CoinMarketCap's top 10 since its development in 2020. On 6 November 2021, the coin managed to reach an all-time high of €242 . The coin is used for staking and for paying transaction fees on the Solana blockchain.
Solana is a platform that for many is a good alternative to Bitcoin and Ethereum. The platform is faster and can carry out more transactions in a short period of time. Transaction fees are also a lot lower. From its launch in 2020, the SOL coin has done more than well, climbing from a price of over €0.05 to an ATH of €242 per SOL. By the beginning of the year 2022, the price has fallen below €93 and analysts have 'mixed feelings' about the coin in 2022. In particular, the fact that the network went down several times caused many believers and non-believers. The non-believers in particular got it right in 2022. Not so much because the network was struggling with problems on the network, but because of external factors that greatly affected the SOL. The market was already bearish and on top of that came the FTX scandal that pushed the price down even further. The past month showed remarkable activity in the crypto market. The entire market benefited from favourable news regarding a possible Bitcoin Spot ETF, leading to an impressive 140% rise in the SOL price within just a month. Before the end of 2023, Digital Coin Price makes a Solana price prediction of with an average price of €103.98. Whether the SOL price is able to meet the prediction we are going to see in the remaining month.
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