Can Solana Reach $10000?

Can Solana Reach $10000?

Can Solana reach $10000? Solana continues to have a difficult year with poor performance and repeated security issues but is there a possibility of ever reaching $10,000?


Can Solana Reach $10,000?

Solana will have to rise 300-fold to reach $10,000. This is quite feasible given what Bitcoin has accomplished over the last few years and Ethereum is likely to do so over the next few years. Solana has also proven itself with numerous use cases with NFT as a particular focus. Solana is the second largest blockchain in the NFT space with only Ethereum ahead. In the DeFi space, Solana is placed 6th.

But there are major challenges with Solana

  • Solana faces intense competition from Ethereum and its Layer-2 blockchains Polygon Matic and Immutable X
  • Solana also faces competition in specific segments from Tron, Binance, Avalanche, Cardano, and Flow
  • On top of this, Solana has had security challenges throughout the year

So there are practical difficulties for Solana to rise 300-fold given the levels of competition it faces compared to what Bitcoin or Ethereum had to deal with at the outset. The only way Solana can rise 300-fold is if liquidity in the market once again reaches historic proportions as seen in 2021. Given the unwinding, we are seeing in the last few months, it is unlikely Central banks will once again experiment with low-interest rates.

So considering all factors including current price, use cases, competition, technical issues and future liquidity, we believe it is unreasonable to expect Solana to rise to $10000.

Will Solana Reach $500?

Still, if one has patience and if Solana can somehow sustain growth over numerous years, here are two scenarios where Solana could reach $10000.

% GrowthNo. Of Years
15% Growth41 Years
25% Growth26 Years

Can Solana Reach $10000? The Market Cap Calculation

If each token of Solana became worth $10,000 then the market cap would be $3.5 Trillion. This is more than the GDP of many countries.

Can Solana Reach $10000? The Technical Issues

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Can Solana Reach $10,00?: The last 30 days of performance does give hope, however, the declining price in 90, 180 days and YTD performance is due to the overall declining crypto market which has not left any cryptocurrency.

Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.