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breaking news Solana Price Prediction • 2022 to 2030 • Benzinga

Already convinced and don’t even need a bullish Solana price prediction? You can buy Solana on Uphold, Gemini or Robinhood.

Solana has lost half its value over the past month. The collapse of FTX had a direct effect on the Solana token and network. The self-proclaimed Ethereum killer is down around 95% on the year. Network freezes, centralized validators, and now FTX contagion might be too much for Solana to recover from.

What is Solana?

Solana is a layer 1 blockchain with smart contract capability. Its governance token, SOL, is heavily traded and is among the top 20 cryptocurrencies in the market. The Solana blockchain is significantly faster than Ethereum. The Solana network has between 2,000 and 3,000 transactions per second. Solana is heavily funded by venture capitalists, which goes against crypto ethics. Much of the coins are held by insiders, and FTX founder Sam Bankman-Fried owns more Solana than anyone. With many tokens and validators under centralized control, it remains to be seen whether users can rely on the network for the long term.

Solana market position

With a market cap of over $4 billion, Solana (SOL) is the sixteenth largest cryptocurrency. The coin is trading for just under $15, down from its peak of nearly $250 per coin in 2021. While Solana has many of the same potential DeFi advantages as Ethereum, it lacks the network activity. Developing on Solana requires a much more specialized coding language, creating a lot of friction for developing good decentralized apps. Developers opt for a simpler coding environment with more users.

Daniel Cheung’s Solana Long Term Bullish Price Prediction

Cheung is a crypto expert and not afraid to share his opinions on Twitter. So far his call has proven false, but there is still time for it to materialize. While Cheung acknowledges the centralization issues for Solana, he also hints at the speed and precocity of the network. Unlike Ethereum, Solana does not have sharding in its roadmap. The simplified network could be a big player, especially if the future is multi-channel.

Keith Noonan’s Solana Long Term Bearish Price Prediction

Like most Solana bears, Noonan refers to the centralization of the network. This problem is evident in cryptography because it renders a network untrustworthy and gives the project a greater likelihood of outright failure. Noonan also points to the over-reliance on the non-fungible token (NFT) market for Solana, as few other useful applications are used.

Solana Price Prediction 2023

According to technical analysis from Changelly.com, Solana could be trading at an average of $21.09. This prediction would require the network to stabilize and a new bull market to take place. If the Fed emerges from a tightening cycle, this prediction could come true.

Solana Price Prediction 2024

Changelly continues its bullish technical analysis on Solana, with a forecast of $31.55 being the average trading price of Solana in 2024. This would necessitate a continued reduction in interest rates, as well as ecosystem growth at Solana.

Solana Price Prediction 2025

For 2025, $44.96 is the average Solana price in 2025, predicted by Changelly technical analysis. This type of recovery would imply that the FTX contagion is less harmful than the SOL bears predict.

Solana Price Prediction 2026

Most technical analysis and forecasts of the SOL price indicate a long-term bullish trend. Little consensus exists, so it is important to make your own decisions. Cryptonews.com calls for a SOL price of $112.94 at a minimum in 2026.

Solana Price Prediction 2027

CryptonewsZ.com calls for a minimum SOL price of $129.22 in 2027. The site says the coin could even touch $143, using technical analysis to make its predictions.

Solana Price Prediction 2030

Finally, by 2030, CryptonewsZ technical analysis calls for Solana to reach a low of $207.47. The site also indicates that a new all-time high of $260 could be reached in 2030.

Where to buy Solana

Being such a sought-after coin, Solana (SOL) is available on most centralized exchanges, including Gemini, Uphold, and Robinhood. In light of the recent FTX disaster, it might be a good idea to keep your crypto off centralized exchanges for now and use a non-custodial wallet. You can then acquire SOL on a decentralized exchange (DEX).

  • Best for

    A fast trading experience

How long will it take Solana to reach $30?

SOL was trading near $30 before the FTX scandal. Unfortunately, FTX is one of the biggest investors in Solana, and those funds will be under court scrutiny to decide where they go next since FTX filed for bankruptcy. Resolution is likely to be a long process. It could take years for SOL to recover, and it will take a lot of hard work from the development team. Solana might come out of this stronger than ever, but there is perhaps an equal probability that the coin will trend towards $0.

Where to store Solana safely

Many users have a hardware wallet to store their digital assets offline. By keeping funds offline, users are safer from hacks and phishing scams. By using a software wallet to interact with decentralized applications and transfer acquired funds to a hardware wallet, users are not subject to the centralized risk of failure. The user functions as his own bank.

Best Hardware Wallet: Ledger Nano S

Ledger Nano S is one of the most widely used hardware wallets. It’s a simple design with plenty of instructional videos to help new users navigate the device. It supports over 1,800 cryptocurrencies such as BTC, ETH, DOGE, XRP, BNB, LINK and all ERC-20 tokens.

  • securely through the Ledger Hardware Wallet website

Best Software Wallet: ZenGo

ZenGo is a popular software wallet and can be paired with the Ledger Nano S. While being responsible for your own funds is more difficult, it might be worth the risk of trusting a centralized exchange.

Current Crypto Prices

The whole year of 2022 has been painful for crypto holders. The macroeconomic environment has dried up liquidity in the economy. Technology investments, such as crypto, are among the hardest hit assets. The FTX contagion is also ongoing and is affecting not just Solana but the entire crypto market. The market will likely continue to struggle until the macro environment stabilizes and the FTX contagion works its way through the system.

So, is Solana a good investment?

Today, Solana is one of the riskiest crypto investments. This would definitely be considered a “buy low” scenario, as the price of SOL has taken a heavy hit. If you believe strongly in the future of Solana, then now might be the perfect time to buy. However, investors who see too many issues for blockchain to overcome will stay away from the beaten project.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
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