Author: changehero
August 3, 2022

No doubt, by now Solana is one of the more recognizable projects on the crypto market. Thousands of users have confidence in the ecosystem but naysayers insist it will not stay in the top-10 forever. So we reviewed Solana price predictions to give you a better idea where the community expects the SOL price to go in 2022 and future years.

solana price prediction banner

No doubt, by now Solana is one of the more recognizable projects on the crypto market. Thousands of users have confidence in the ecosystem but naysayers insist it will not stay in the top-10 forever. So we reviewed Solana price predictions to give you a better idea where the community expects the SOL price to go in 2022 and future years.

Solana Price Predictions 2022–2030

YearPrice, USD
2022$31–74.89
2023$4–41
2024$76.23–214.70
2025$72.05–800
2030$120–1,500
According to the 2022 Solana price prediction, it will not pull back below the yearly minimum price anymore. The expectations of how high SOL price can go are muted as well, with $75 being the absolute maximum. In the 2025 Solana (SOL) price prediction, the outlook is positive. By then it is expected to overtake the current ATH all the way up at $800. In Solana (SOL) price prediction for the end of the decade, SOL price will firmly establish in the three-digit range and even venture into the four-digit territory.

What is Solana and SOL?

Solana (SOL) is a blockchain platform that supports the development of dApps. If it sounds a little like Ethereum, do not draw conclusions so early: Solana uses Proof-of-Stake, as well as a unique Proof-of-History algorithm. Proof-of-History replaces confirmations with probabilistic functions which get progressively final as the blockchain continues. This way, transactions can be deemed complete almost instantly, unlike in Bitcoin or Ethereum. As a result, it is much more energy efficient, fast and cheap: Solana can reach 50 thousand transactions per second.

The native Solana token has the ticker SOL. If you want to learn more about this project, read the Beginner’s guide to Solana by ChangeHero.

Solana (SOL) Price History

Solana (SOL) Price in 2020–2021

SOL price chart in 2020–2021
Source: CoinMarketCap

Solana entered the crypto market in April 2020, and was worth a little less than a dollar. In a few months, when Tether announced that they will launch USDT on Solana, the SOL price rallied to $4.34. 

Since then, though, the price entered a downtrend which lasted until the end of 2020. Nonetheless, SOL closed the year with a +90% profit. In 2021, the Bitcoin rally caused the altcoins to rally, too. Some of them even outperformed it, including Solana. Its growth was accelerated by Circle issuing USDC on the platform, among other things. That rally peaked at $55.91 on May 18, 2021. After the correction and some consolidation, the price of Solana continued the rally reaching the current ATH of $260.06 on November 6, 2021.

Solana (SOL) Price in 2022 to Date

SOL price chart in 2022
Source: CoinMarketCap

Since reaching the maximum price though, Solana price went on to be locked into a long-term downtrend well into 2022. Its opening price in 2022 around $170 also continues to be the yearly high. A brief relief rally saw the SOL price go up to $140 in April, but the selling pressure turned out to be prevalent. At the time of writing, the current price of SOL is $39.27, and Solana coin ranks 9th on CoinMarketCap with a 13,604,717,379 Solana market cap.

What Influences the Price of Solana?

Integrations and Partnerships

The Solana coin grew in value with the news about Tether and USDC collaborations. Since both stablecoins are tokens, having to pay transaction fees in the Solana token drives up demand. The Lollapalooza 2021 sponsorship brought more attention to the currency and made its price grow short term.

In 2022, Solana Foundation opened a physical ‘Web3 embassy’ in Hudson Yards, NY. The retail space offers merchandise on sale and assistance with onboarding to the Solana ecosystem. Among the represented ecosystem projects are Degenerate Ape Academy and STEPN.

Protocol Updates

Solana is an emerging competitor to Ethereum for the DeFi domination. In comparison with it, Solana has higher potential throughput — 50,000 tps — which leads to better operating services and user experience overall. Nonetheless, the network has proven time and time again to be vulnerable to spam bot attacks. To bolster the network’s stability, Solana Foundation has proposed and is working on the transition from UDP to QUIC. There is no finalized date of the release of the software on mainnet but users can track the progress in the open GitHub repository.

Mainstream Adoption

Speaking of long term, Solana is a very attractive platform for payments even in comparison to the current standard. To compare, Visa can successfully perform 1,700 transactions per second. Solana has processed more than 88 billion transactions since launch at a rate about 1,100 tps. SOL is mostly used in DeFi but some companies like Bitpay lets vendors accept SOL as payment.

Solana on Twitter

User Aylo confesses to changing their opinion on Solana’s future after years of watching and acknowledging its prospects. We highly recommend you to give their comprehensive write-up on Solana blockchain a read.

A member of the Solana network Taki held a Twitter Space to discuss how sport ties into Web3. Check the Space out while you can!

Another Solana resident Zebec Protocol comes in with a nifty latest Solana news roundup.

Solana Price Prediction 2022

Coinpedia’s technical analysis arrives at the conclusion that we will not see Solana above $55 in 2022. However, they hope that the current Solana price will remain a support level for the rest of the year.

YouTuber More Crypto Online uses Elliot Waves to draft the Solana price analysis. The SOL price chart has entered another pullback with the support level at $31.80. The following wave, if the trend truly has shifted to the upside, can take SOL to $58 in the short term. The Economy Forecast Agency predicts a bear market rally in fall. More exactly, the future local high at $74.89 is expected sometime in October 2022. 2022 for SOL will close at only $49.38.

Solana SOL Price Prediction 2023–2024

WalletInvestor is bearish on the SOL token due to the past price data. On average, in 2023 the forecast price will start at little over $41 and dip to the $4~7 range by the end of the year. In 2024 though, on average the price of SOL can reach $76.23, DigitalCoin claims. The highest average price is forecasted to be observed in August: $214.70.

Solana Price Prediction 2025

It is easy to see in which direction the project is developing: interest in DeFi is at its highest and shows no signs of decreasing.  In a few years, Solana can become the leading platform in DeFi thanks to its qualities. So, with technical analysis Coinpedia thinks it is nowhere outside of reasonable to put the average target at the $169 mark. In an alternative scenario, if the team fails to keep the platform competitive, SOL in 2025 can sink to $125.047. A much more bullish estimate comes from another source, RippleCoinNews: $800. Their reasoning is similar: by 2025, dApps will become a part of daily life and DeFi will be empowering users worldwide. Since Solana focuses on both, it will be at the forefront of progress, and the value of the platform will be appreciated by investors. This SOL price prediction from the Coin Price Forecast is a lot more lukewarm than the previous two. In  2025 SOL will have grown to $72.05 in mid-2025. The 2025 closing price will get slightly higher, $81.31.

Solana Price Prediction 2030

A lot can happen during a decade, there are both foreseeable and unpredictable factors that can sway the price. The outlook of most analytics is positive, and they are sure Solana blockchain will be around at that time. Coin Price Forecast, for example, is sure it will further grow in value to $121.85. CryptocurrencyPricePrediction goes further and puts the target at above $1,500. Both services use historical data to project the possible growth rate, and the parabolic rise can well repeat a few times until 2030.

ChangeHero Solana Price Prediction

Considering all the data and opinions above, it is reasonable to be bullish on Solana. It’s not guaranteed to be the most valuable cryptocurrency because it’s inflationary and more suited as a means of payment. Moreover, a large number of corporate investors (like OKEx) could potentially mean that there will be sell waves and corrections. With all that in mind, $50 in 2022 and $500 after 2025 seem to be the targets many investors expect.

How to get SOL on ChangeHero?

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    The Best Rate transactions will use the rate current to the time when your funds arrive. The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your SOL are on the way to your wallet. 

The customer support is available 24/7 in the chat on the website or through the email: [email protected]

Conclusion

Solana came around at the perfect time to blow up, and by now has deserved a place in the top-10. In comparison to the 2021 bull market Solana (SOL) price prediction, expectations from Solana price value are lower but still extremely bullish.

You can find more articles about Solana in our blog or useful posts in our Twitter, subreddit, Facebook and Telegram. Check them out and subscribe!


Frequently Asked Questions

How much will Solana be in 2030?

In 2030, Solana may as well be trading anywhere between $120 and $1,500.

How much is Solana worth in 2022?

By 2022, the average trading price of SOL is expected to be between $31 and $74.89.

How much is Solana worth in 2025?

By 2025, SOL is expected to grow up to $72.05 and may even reach $800, according to some forecasts.

How much will Solana be worth in 5 years?

In 2027, bullish Solana price predictions put the price targets between $800 and $1,500. More realistic forecasts claim SOL will be worth $72.05 to $120.


Disclaimer

This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price. When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis and at your own risk.

Author: changehero
December 8, 2021

DeFi, play-to-earn games and NFTs, oh my! — Solana has it all and claims to scale to breakneck speeds. In this Solana beginner’s guide, the ChangeHero team will introduce and explain what Solana and the Solana’s native cryptocurrency SOL are. Key Takeaways Solana is a decentralized protocol for distributed computing and building dApps. Its main […]

What is Solana? A Beginner’s Guide

DeFi, play-to-earn games and NFTs, oh my! — Solana has it all and claims to scale to breakneck speeds. In this Solana beginner’s guide, the ChangeHero team will introduce and explain what Solana and the Solana’s native cryptocurrency SOL are.

Key Takeaways

  • Solana is a decentralized protocol for distributed computing and building dApps. Its main advantage is the ability to scale up to 65,000 transactions per second;
  • Solana protocol combined original Proof-of-History protocol with the Proof-of-Stake consensus algorithm which makes it faster and more energy efficient;
  • The Solana platform is backed by major market players like Circle and Tether. DApps with smart contracts built on it already have millions of active users.

What is Solana?

Solana logo
Source: Solana

At its core, the value proposition of Solana is not very different from Ethereum’s. It is a public base-layer blockchain protocol that is best suited for decentralized computing and creating decentralized applications (dApps). 

What is Solana’s improving, then? By design, this protocol is near-perfectly optimized for scalability. 

As a result, dApp devs do not need to design around performance bottlenecks. This is achieved with an innovative hybrid consensus model combining a Proof-of-Stake (PoS) consensus algorithm with a novel Proof-of-History (PoH) timestamp system.

Proof-of-History

Proof-of-History chain diagram.
Source: Binance Academy

Solana hashes all transactions with the SHA-256 algorithm (the same that Bitcoin uses). An output of each transaction is the input for the next one, and since hashing takes a set amount of time, it is used instead of timestamps.

The problem with the timestamps in blockchains like Bitcoin is that every miner uses local time or even inaccurate time. To avoid reorganization, Solana blockchain uses hashes that link the blocks in a cryptographically verified succession.

In a very short amount of time, every 400 ms, validators vote on inclusion of transactions in slots. Each subsequent vote doubles the amount of time needed to roll the consensus back.

PoH relies on Proof-of-Stake (in Solana’s blockchain, the Tower BFT algorithm) to validate transactions. To pass it, at least two thirds of all nodes have to agree with each other. PoH is more like an additional securing mechanism which prevents rollbacks.

History and Team behind Solana

In 2017, Qualcomm engineer Anatoly Yakovenko published the Proof-of-History whitepaper. With his colleagues, Greg Fitzgerald and Stephen Akridge, they built a prototype testnet in 2018 and founded Solana Labs. 

The team was joined by Raj Gokal, who is now the company’s COO. Through 2018 to 2019, the team was fundraising and building the protocol in parallel. 

By March 2020, Solana Labs was ready to launch the Solana blockchain, shortly after a token auction which raised $2.4 million.

Solana Labs, which is still the major contributor to the development, itself is based in San Francisco, California. The team members can be found on every continent. There is also Solana Foundation, a non-profit working on promoting and supporting Solana’s blockchain, based in Switzerland.

What is Solana Coin (SOL)?

Just like ETH, a cryptocurrency SOL, which is a Solananative token, is the lifeblood of the platform. The ledger keeps record of transactions that are denominated in it or in the SOL-based tokens.

Solana coin is inflationary but the rate of issuance is designed to be decreasing. The current rate is 10.5% but in ten years, it is programmed to have about 1.5% annual inflation rate.

According to Messari.io, the current circulating supply of SOL is 342,378,734.11, and the liquid supply is 532,186,728.00.

What is Solana used for?

Low transaction fees and throughput of about 65 thousand transactions per second make it a legitimate alternative to Ethereum.

Another use is to stake Solana. Anyone can validate transactions, but the hardware and bandwidth requirements of running a node are rather high. 

In case you cannot afford to run a node, a stake of SOL tokens can be delegated to a validator, of which there are 1,283 at the time of writing.

Comparison with Similar Projects

The first competitor that comes to mind is Ethereum, the problems of which Solana set out to solve. Ethereum has a throughput of about 16 tps and can realistically scale only with second-layer solutions until the merger with Ethereum 2.0.

Binance Smart Chain, the second most popular decentralized finance and smart contracts platform, can handle more load but is often criticized for being a centralized system.

There have been other projects with premises and scaling capabilities similar to Solana. Marlin is an open protocol that provides a high-performance programmable network infrastructure for DeFi and Web 3.0. However, unlike Solana, Marlin runs on top of Ethereum.

What is Solana Criticized For?

Solana is often criticized for being rather unstable. In December 2020, Solana network went offline for approximately six hours. The critical fault could have been solved in a less amount of time, but the decentralized nature of the platform demanded consensus.

In September 2021, bots barraged the initial DEX offering Grape Protocol with denial of service attacks so severely, the entire network went down. The downtime lasted a total of 17 hours.

There were other bugs that could have endangered the network but were discovered in time. A bug that allowed the withdrawal of more fractional tokens that were deposited to a protocol was found by Neodyme and fixed.

As previously mentioned, bandwidth and hardware requirements to validate transactions are rather high: 12 core CPU, 128 GB of RAM and 300 MBit/s connection are recommended. This limits the number of possible validators and stifles decentralization.

Partnerships and Future Plans

The most prominent partners of Solana are established players of the market, Circle and Tether. After all, it is crucial for a DeFi platform to incorporate solutions like stablecoins which found adoption in the sphere. 

Another example of Solana adopting decentralized finance staples would be the cooperation with Chainlink for price oracles.

After the mainnet launch, there have been no set roadmaps for the Solana platform. Instead, the devs and community focus on bringing more projects into the ecosystem. 

With the explosion of popularity in non-fungible tokens and Play-to-Earn, it was only a matter of time until NFT collections and games would appear on Solana. MonkeyBall and SolChicks gained appraisal from dozens of high-profile investors — though the latter raised some stir with its 113 backing venture capital funds.

Solana itself is still receiving funding from companies interested in the development of its ecosystem. In March 2021, investments from OKEx and MXC totaled to $40 million.

Social Media Posts

I’m paving new avenues for NFT growth through my Collab I got coming wit @Babolex on https://t.co/vaUYWClg2n
🎥👊🏾💥💫 #Solana pic.twitter.com/tdifEjX5T4

— Snoop Dogg (@SnoopDogg) December 7, 2021


Snoop Dogg is one of the biggest celebrities endorsing crypto at the moment, and the fact that he collaborated with Solana raised the community interest by a lot.

HOW TO MAKE IT BIG minting Solana NFTs.

An easy, step by step, guide based on my experience of seeing how the best in the space get it done. 🧵 (1/7)
— Benny | 💀🤖🦍| brainless.sol (@Benny_Brainless) December 6, 2021


User Benny documented their experience on the NFT branch of Solana. Make sure to take the advice in the thread with a grain of salt, since it is ironic.

it really be like that.
love you solana pic.twitter.com/FkgA1jBO0t

— Currylicious (GANG) 🏀 (@curryliciousSOL) December 7, 2021


Solana users are more clear about their preferences than even the Solana devs, who deny competition with Ethereum. Low fees and high speeds are a strong enough incentive for the Solana community to root for their platform.

Where to store SOL

If you are looking for wallets exclusively for SOL, take a look at Solflare or Sollet. They support Solana-based tokens and some dApps. 

However, most crypto users own more than one currency. You can check out software Math Wallet and Trust Wallet or Ledger for cold storage. In the Exodus wallet, you can delegate a stake and exchange SOL right in the app.

How to Exchange SOL?

You can trade Solana on most crypto exchanges but trading on an exchange comes with some hassles. You have to create an account and deposit funds into the exchange’s custody. It takes time and your trust in the platform.

ChangeHero is an alternative way. It’s extremely easy to buy Solana with any currency supported by the service. ChangeHero is a non-custodial instant cryptocurrency exchange, so you won’t have to worry about setting up an account or deposits.
Exchanging Solana with ChangeHero can be done in a few easy steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
      The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your SOL tokens are on the way to your wallet. 

Our customer support is available round the clock in the chat on the website or through the email: [email protected].

Conclusion

We can say Solana is a successor to Ethereum in DeFi, because it significantly improves the user and developer experience. If it had an ecosystem as diverse and vast as Ethereum, DeFi would be way more mainstream.

If you enjoyed the Solana guide, do check out more guides and digests in our blog! The updates are regularly posted to Twitter, Facebook and Telegram, so don’t forget to subscribe.


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