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Solana Price Prediction For Next Year

Solana Price Prediction

September 16, 2021 | 

3286 Views | 

Jesus Guzman | 

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Digital cryptocurrencies have been experiencing new dimensions since the evolution of Ethereum and Bitcoin, which are often referred to as crypto giants. Initially, when the world was introduced to the dawn of digital currencies, Bitcoin was the single option regardless of its drawbacks. At the moment, there are over 4,000 cryptos, including Solana.

Solana is among the most talked-about assets lately in the crypto world. For a significant period of time, it has become the preferred blockchain whose objective is to offer scalable, secure, fast, and decentralized marketplaces and apps.

The native token of the network (SOL) is quite an unknown crypto that has been gaining massive popularity among the cryptocurrency community.

The market position and fundamentals of the network are predicted to attract even more investors around the globe. But is SOL a great investment to undertake? Keep reading to understand everything about the Solana price prediction in 2022 and beyond.

What is Solana and Who Founded It?

The genesis of the Solana network can be traced back to 2017. The plan was mapped by a software developer at Dropbox, Anatoly Yakovenko. He later partnered with a previous employee at Qualcomm, Greg Fitzgerald, and his ex-colleague to design the Solana Testnet.

Solana was billed as the first web-scale blockchain in the world. It is a PBFT (Practical Byzantine Fault Tolerance-based) PoH (Proof of History) system. To put it simply, the PBFT system is designed to significantly reduce the risk of malicious servers or devices in the network (nodes).

It runs on the principle that malicious nodes have to be less than a third of the total number of nodes in the network's system. As the number of nodes grows, it means that the network's system becomes even more secure.

However, Solana is not the only crypto that employs a PBFT system. There are other cryptos such as Stellar (XLM), Hyperledger, and Ripple (XRP) that are based on this form of blockchain as well.

Since PBFT networks are increasingly becoming secure as they evolve, they are considered to be a potential solution to the challenge of scalability. Ever since the advent of Bitcoin, it has become a challenge to scale up the blockchain to facilitate global adoption.

Therefore, Solana Labs designed SOL in 2017 to tackle this problem. Besides scalability, Solana also provides faster processing transactions as compared to other platforms like Bitcoin and Ethereum.

Solana Network Topography

Solana's objective is to act as the bond between fiat currency and the digital world. Here, the trust factor plays a significant role. The advantages of the SOL coin include a distributed data exchange, a high-performance distributed identity system, as well as distributed procedure protocols.

It combines distributed attestation, segregated communities, and a versatile weave of network modules that are limited to certain industries. Due to these fundamentals, Solana has become crypto that offers a reliable and flawless ecosystem, thereby developing a largely collaborative and user-friendly user interface that is based on deep learning for the private and public.

Solana Crypto Prediction

The Solana crypto prices have recently been depreciating because of the overall mid-term trends that are based on technical analysis and historical data. However, according to the movement, the price of Solana was greater in the first half of 2020 as compared to the period after July 2020.

During that time, the price of the SOL coin was trading above the $1 mark and continued with that trend until August 2020 where it reached a high of $4. Since then, the price of SOL-USD experienced a flattish trend until the beginning of 2021.

Based on the fundamentals and technical analysis, the SOL coin has reached a top position in the crypto market. The coin almost attained the $4.40 mark by the end of January. It enjoyed a consistent bullish phase since then until the cryptocurrency levelled off at a price slightly above $40.

Currently, the Solana live price stands at about $32 with a trading volume of $489,191,631 and a marketcap of $8,736,190,285. Most of the price forecasts point to Solana outperforming its rivals and the SOL community has established greater benchmarks for its prices. Solana will exceed the expectations of crypto investors who find the platform to be uncomplicated and interactive.

According to recent Solana news, SOL is expected to launch another crucial exchange in the crypto market which numerous exchanges could back with a feature of proof of stake.

Solana Price Prediction for 2022 and Beyond

The stumbling block against SOL currency at present is the grounded blockchains such as Cardano and Ethereum that are enhancing their organization to solve the scalability challenges such as high charges and lengthy transactions.

The crypto world experienced an enormous adoption of dApp in 2020 which was behind the gradual growth of Solana price. The alliances and partnerships it's forming will push the network's scalability to millions of transactions per second. The Solana network is popular with several projects developed on it with a plentiful supply.

If these advancements are sustained, then the price of Solana could rise even past the $50 mark making it an all-time high.

As mentioned above, when you consider the alliances and partnerships that Solana has been forming, as well as community funding, the market expects Solana to improve its performance with a change in price to attain the $58 mark in 2022. This is very optimistic but is certainly feasible as compared to other cryptos such as Bitcoin, Ethereum, etc.

Also, Solana has created a reliable and swift network and it also works quite well with the consumer experience of the product. Such features are predicted to increase the prices of SOL-USD further on the Solana chart. If this drive continues into the next year, the Solana price could even experience a paradigm rush for investment.

Solana Live Price

When the crypto market crashed on May 20th, the value of numerous altcoins decreased by around 20%. However, Solana did not fall prey to that collapse but instead increased substantially. It put many investors into shock as it boosted by around 50%.

Many eyebrows were raised since even crypto giants such as Bitcoin fell to their lowest level in early 2021.

Currently, the Solana live price has continued with its journey northwards and is keen to make its way into the best cryptos by market cap. August proved to be a game-changer for the Solana marketcap.

Furthermore, the increasing popularity around nun-fungible tokens (NFTs) and animal-based NFTs led to a bull rally of the SOL currency. As a result, its price attained an ATH (all-time high) of $194.8 by 7th September this year. And an even greater ATH is anticipated to be achieved by the year 2022 if SOL will keep on improving its centralization.

Final Thoughts

  • Solana entered the crypto market in April 2020 which means that it's third-generation crypto.
  • By market capitalization, SOL is ranked as the 8th biggest crypto up from 42nd position in February 2021. If the current trend continues, SOL coin is expected to even hit all-time highs in 2020.
  • The price of SOL as of September 2021 is $194.8 and it is affected by factors such as potential network outages and the relationship between its supply and demand.

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