Solana had a great year in 2024 with an 512% increase. The question, of course, is whether or not Solana will rise in 2024. Solana has been a well-known player in the crypto world since its launch in 2020. It reached its All-time high of €242 at the end of 2021, dubbed the "Ethereum killer." At first, Solana did not manage to live up to this name, but now it seems to have a chance. What can we expect from Solana in the future? We look at the Solana price prediction from experts.

Table of Content

1. Solana prediction 2024
2. Will there be a Solana Spot ETF?
3. Current Solana price
4. Solana long-term prediction
5. Solana short-term price prediction
6. Recent developments that have impacted Solana
7. Could Solana become worth 1,000 euros?
8. Solana price history
9. What is Solana?
10. What is SOL?
11. Realistic predictions
12. Conclusion
13. Other price predictions

Summary

• Experts from Coinpedia  predict in their Solana prediction that the stock price will rise to €460,50 in the short term
• They also indicate for the long term that the Solana price could rise to € 1.174.73 by 2030
• Solana's technical advantages are attractive to users and investors
• The Solana stock price has recovered well since the bankruptcies of Genesis, FTX and Alameda Research.
• A potential Solana ETF could have a positive effect on the price
• One should never assume a prediction, the Solana price can never be predicted

Solana prediction 2024

By 2024, the growth in popularity of Solana, driven by its efficiency and attractiveness to DeFi developers and investors, may positively develop Solana's stock price. This growing interest and the increasing use of the Solana network as a platform for innovative blockchain applications may further increase confidence in this ecosystem.

In addition, the U.S. Securities and Exchange Commission (SEC) may green-light a Bitcoin Spot ETF in early 2024. This could not only boost confidence in the broader cryptocurrency market, but also attract new capital flows into altcoins such as Solana. The approval of such an ETF could ensure the start of a new bull run.

In addition, the Bitcoin halving in 2024 may cause another bull run. This could have a beneficial effect on Solana and other cryptocurrencies, as investors may look for alternative investment opportunities in the crypto world. All in all, these factors combined could significantly affect Solana's share price in 2024 and offer growth potential.

At Anycoin Direct, we do not give financial advice and thus we are not fans of forecasting. Therefore, we are not going to make a Solana prediction ourselves. But we can take a peek at what a few experts in the market have to say about where Solana might go in 2024. Let's look at two such "forecasting agencies," which specialize in predicting prices for things like oil, gold, stocks and cryptocurrencies, to see what they have to say about the Solana price.

Will there be a Solana Spot ETF?

VanEck recently filed an application for a Solana Spot ETF with the Securities and Exchange Commission (SEC), which would allow it to pioneer as the first Solana Spot ETF in the US. This application follows previously successful approvals for Bitcoin and Ethereum ETFs by VanEck. While experts are optimistic about the chances, the actual approval of a Solana ETF is considered unlikely without significant changes in U.S. regulations. According to market analysts at GSR, a possible victory of Donald Trump in the next presidential election could dramatically accelerate the regulatory environment surrounding crypto-ETFs, which would increase the likelihood of approval. However, despite these positive developments, investors still need to be patient, as the launch of the first SOL ETF is not expected to take place before 2025. Solana's future direction depends heavily on political and regulatory changes in the US.

In recent months, several financial institutions have taken steps to establish a Solana Exchange-Traded Fund (ETF). For instance, 3iQ, a Canadian investment manager, has filed for the launch of 'The Solana Fund' (QSOL) on the Toronto Stock Exchange, which would be the first Solana ETF in North America. Additionally, in June 2024, VanEck and 21Shares submitted applications to the U.S. Securities and Exchange Commission (SEC) for a spot Solana ETF. These applications are now being taken more seriously following Donald Trump's election victory on November 6, 2024.

The U.S. Elections and Solana

The recent re-election of Donald Trump as President of the United States has led to optimism in the crypto market. Trump has advocated for a more favorable regulatory environment for digital currencies, contributing to a rise in the Ethereum price. After his victory, Bitcoin reached a record high of $75,389, and other cryptocurrencies, including Ethereum, saw significant increases in value. Investors are anticipating policy measures that could further stimulate the adoption and growth of crypto assets.

Analysts predict that under a Trump administration, the likelihood of Solana ETFs being approved increases, which would enhance accessibility for investors and further boost Solana adoption. Bloomberg ETF analyst James Seyffart suggests that the approval of a Solana ETF is more likely under a pro-crypto administration.

In short, recent developments surrounding Solana ETF applications and the outcome of the U.S. elections have highlighted Solana as a promising player in the crypto market. The combination of institutional interest and a potentially more favorable regulatory environment under the new administration could accelerate Solana’s growth and adoption in the coming years.

Current Solana price

The chart below shows how much Solana is worth.

Solana long-term prediction

DigitalCoinPrice predicts a continued rise in the Solana price, with the prediction being between €944,91 and € 1.174.73 by 2030.

Are you planning to HODL Solana for the long term? Then you should see what experts say about the long-term Solana price prediction. Remember, a Solana price prediction is not a guarantee for the future. Below are named the minimum, average, and highest Solana price per year according to DigitalCoinPrice (updated on 4th of october 2024).

Solana price prediction for 2024

Analysts expect a rise in the Solana price with a minimum of €138,59 , an average price of €335,90 , and a maximum price of €344,43 . Solana seems to be on an upward trend, and 2024 could be a good time to invest in Solana.

Solana price prediction for 2025

In 2025, the SOL rate is expected to increase further, with a minimum price of €336,93 and a maximum price of €403,10 . DigitalCoinPrice also indicates in their Solana prediction that the average price could reach €363,68 per Solana.

Solana price prediction for 2026

Experts anticipate a continued rise in Solana's price up to the end of 2026. The Solana price prediction for 2026 shows an average of €539,15 , with a peak expected at €556,99 , marking a significant increase.

Solana price prediction for 2027

For 2027, experts forecast a rally with prices reaching a minimum of €603,27 and a maximum of €713,80 . This represents a continued positive growth outlook.

Solana price prediction for 2028

Based on the ongoing predictions, the Solana price for 2028 could range between €603,27 and €713,80 , with an average price of €679,72 , reflecting a steady increase.

Solana price prediction for 2029

Looking ahead to 2029, the forecasted Solana price might range from €744,41 to €859,58 , with a projected average of €819,29 , indicating further growth.

Solana price prediction for 2030

For long-term Solana HODL'ers, predictions for 2030 indicate a price range between €1.057,54 and €1.174,73 , with an average of €1.153,84 . These predictions are based on data available up to the 22nd of October 2024.

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 1.886,70 euros by 2032. 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.

Solana heading 2023

Solana had a fantastic year in 2023, with a total increase of no less than 890% from €9.30 to €92.1 . It has thus extraordinarily recovered from the bankruptcies of Genesis, FTX and Alameda Research in 2022. Solana experienced a lot of developments in 2023. For example, it achieved several milestones. In 2023, it overtook Ripple in terms of market capitalization and now ranks as the No. 5 largest cryptocurrency. In addition, it has also overtaken Ethereum in higher DEX and NFT volumes. Solana also launched several new stablecoins on the network. The entire market benefited at the end of 2023 from positive news about a possible Bitcoin Spot ETF, which resulted in an impressive rise in 140% in the SOL rate within a month.

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 579,378,534 SOL tokens, of which 462,773,590 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.

Realistic predictions

The content on this page, including all cryptocurrency price predictions, is provided solely for informational purposes and is not intended as financial or investment advice. Cryptocurrency markets exhibit cyclical patterns characterized by bull runs, where optimism and substantial investments can lead to significant price increases, and bear markets, where prices of even the most stable cryptocurrencies might plummet by 80-90%. While analysts and firms like DigitalCoinPrice may project continual market growth driven by persistent optimism and investment, the cryptocurrency landscape is inherently volatile and can change abruptly. Investors should not solely rely on the notion of uninterrupted growth but should also be aware of potential risks and market volatility. Predictions are therefore only made for projects with a substantial historical presence to ensure a more informed analysis. Always conduct your own research before making any investment decisions. Past performance is not indicative of future results.

Conclusion

Solana is a platform that for many is a good alternative to Bitcoin and Ethereum. The platform is faster and can perform more transactions in a short period of time. Also, the transaction fees are 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. In particular, the non-believers 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 favorable news regarding a possible Bitcoin Spot ETF, leading to an impressive 140% increase in the SOL price within just one month. Before the end of 2024, Digital Coin Price is doing a Solana price prediction of with an average price of €281,03. Whether the SOL price is able to meet the prediction we are going to see in the remaining month.

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