Will Solana Reach $250? SOL Price Prediction 2024-2030

Solana is one of the most popular cryptocurrencies in the market. In this article, we will analyze the Solana price prediction for the next 24 hours, tomorrow, week, and month. We will also discuss the factors that could affect the price of Solana in the near term

Solana Price in USD

Active Wallets: 1.3M [Rising]

Solana Price Performance so far

Last 7 Days	-19.3%
Last 1 Month	-34.1%
Last 12 Months	+444.3%

We have a question for you today.

Latest Solana Market Analysis

Solana(SOL) has been trading within the narrow price range of $160 and $190. What are the Signals and Predictions?

Solana Price Technical Analysis

Solana has experienced a significant downturn, trading negatively on both 7-day and 30-day candlestick charts after failing to maintain support above $160, triggering increased selling pressure. Currently, SOL faces initial support at $130, with resistance at $155. A successful breach of the $155 resistance could pave the way for a retest of $190, and a breakout beyond that level might propel SOL towards $200. Conversely, failure to sustain above $130 could result in a potential drop to around $100 or lower.

Considering the current outlook, it is unlikely for SOL price to clear its first level of resistance. A reversal may likely happen after the overall market sentiment improves as SOL has been following the broader crypto market trend.

Over the last 24 hours, the trading volume of Solana has fallen and even the open interest for Solana has fallen. A simultaneous decrease in both trading volume and open interest for Solana could imply a temporary lull in market activity, possibly leading to less price volatility in the short term. It could also indicate a period of consolidation or uncertainty among traders regarding Solana’s future price direction.

Overall the outlook surrounding Solana is negative. On the MACD chart, both the MACD line and the signal line have fallen within the negative axis and the MACD line is below the signal line. The trade recommendation for the asset is to sell.

Influencers Price Target:

• Ninjascalp: $170+
• Thecryptomist: $178 – $180
• kcryptowolf: $200
• SDX_Trades: $200 and $230
• JavonTM1: $233.719
• MarketMaestro1: $260
• Thecryptomist: $280
• martypartymusic: $298
• TeddyRoosevalt: $300
• PedroALPHAA: $300
• PrattyCrypto: $415
• ChartingGuy: $426- $692
• MikybullCrypto: $429-$689
• DevKhabib: $500
• CryptoJelleNL: $600

Solana Price Prediction Next 24 Hours [Algorithm]

• Solana Price Prediction in the next 24 hours is between $133 and $152
• Solana Price Prediction this week is between $124 and $154

Check out my CrowdWisdom360 Portfolio here which has BOME, SOL, PEPE, PRIME, LUNA, BCH tokens, etc.

You can search for Predictions by Influencers along with Past track record (by Crypto here)

Read Influencer Crypto Recommendation Report 2024 for Free

Solana Price Prediction 2024-2025-2030 (Aggregated)*

• Solana Price Prediction 2024 is $174
• Solana Price Prediction 2025 is $211
• Solana Price Prediction 2026 is $245
• Solana Price Prediction 2027 is $273
• Solana Price Prediction 2028 is $309
• Solana Price Prediction 2029 is $384
• Solana Price Prediction 2030 is $495

Solana Price Prediction 2040: For 2040 Solana’s Price Prediction is $3922. To touch this mark, Solana has to gain a minimum of 30% a year.

*Long Term Forecasts tend to be unreliable.

Solana Price Prediction: Is Solana a Good Investment?

Solana is a blockchain platform that supports smart contracts, including NFTs. Anatoly Yakovenko introduced it in November 2017 to provide an alternative to the Ethereum blockchain network. Many cryptocurrency projects use the Ethereum infrastructure, but Solana offers a different approach. The network’s first block was created on March 16, 2020, and STEPN is a cryptocurrency on this network.

Solana uses a consensus mechanism that combines proof of stake (PoS) and proof of history (PoH). This mechanism allows Solana to operate without layer-2 or off-chain solutions. Proof of History enables Solana to process transactions efficiently. Unlike traditional Proof-of-Work (PoW) systems, which rely on mining, PoH is based on mathematical proof. This difference means no mining fees and low transaction costs.

Solana’s infrastructure brings several advantages to the NFT space. One of the core features is its use of the proof of history consensus algorithm, which facilitates rapid verification and processing of transactions. This swift processing inherently decreases the cost of minting NFTs on the platform. Additionally, Solana employs Turbocharged transactions, a mechanism that processes transactions in parallel, further enhancing its transaction speeds.

Moreover, Solana’s consensus algorithm is designed with efficiency in mind, resulting in low power consumption. This efficient design translates to a reduced cost of minting NFTs, setting it apart from many other blockchains which can have higher operational costs.

Another significant advantage is Solana’s implementation of a peer-to-peer communication protocol. This protocol ensures seamless communication between nodes, allowing them to interact and complete transactions rapidly.

Collectively, these attributes – fast transaction processing, low minting costs, and efficient node communication – position Solana as an optimal choice for NFT transactions.

Recently, Visa has been expanding its stablecoin settlement capabilities using Circle’s USDC by incorporating the Solana blockchain. According to Visa’s analysis, Solana’s blockchain boasts 400 millisecond block times and an average of 400 transactions per second (TPS), which can surge to over 2,000 TPS during peak demand.

Solend, an algorithmic decentralized lending and borrowing protocol on Solana, launched a native Android mobile app available in the Solana dApp Store. This development responds to the fact that over 50% of Solend users access the platform through mobile-web, aiming to provide a more seamless and efficient user experience. The app facilitates easier lending and borrowing, aligning with the growing trend of mobile-based financial services.

Solana vs Ethereum: While Solana has been touted for its speed and is sometimes referred to as the “Ethereum Killer,” it hasn’t fully rivaled Ethereum’s dominance, especially in the NFT domain where over 90% of NFTs are minted as ERC-721 tokens. Even though Solana has seen rapid growth and possesses an environmentally friendly design, Ethereum’s transition to a proof-of-stake model a year ago further solidified its standing. Consequently, in the broader context, Solana remains a secondary player compared to the established Ethereum, particularly in the NFT landscape.

SOL tokens serve multiple functions within the Solana ecosystem. They are used to pay transaction fees and are essential for developers deploying smart contracts on the network. Staking SOL tokens enables participation in the network’s consensus mechanism, enhancing its security and allowing stakers to earn rewards. Validators and node operators also earn SOL as rewards for their contributions to network maintenance. Within the decentralized finance sector hosted on Solana, SOL tokens are integral for various applications, including trading, liquidity provision, and lending. Additionally, SOL tokens facilitate cross-chain transfers, making them a key element in interoperability solutions.

Some FUD around Solana

Twitter Influencer DeFi Cheetah (@DeFi_Cheetah) raises concerns about Solana’s ($SOL) economic model, highlighting the high costs borne by long-term holders due to the network’s reliance on inflation for validator rewards. He notes that Solana’s validators earn a 6.61% reward rate, primarily fueled by a 6.62% inflation rate, in contrast to Ethereum’s model where only a small fraction of the validator rewards come from inflation. DeFi Cheetah questions the sustainability of this model, suggesting that as Solana grows, holders effectively pay more due to inflation, likening it to the fiat system that drives people towards crypto. He suggests the need for new proposals to introduce deflationary pressure on Solana. In response, a user (@0xMert_) defends the inflation rewards as a mechanism for rewarding stakers, suggesting staking as a solution, but DeFi Cheetah counters by emphasizing that relying solely on $SOL emission for network sustenance isn’t a viable long-term strategy.

Overall, despite many setbacks, it appears Solana has been a moderate to good investment.

Will Solana reach $500

Solana Price: Influencing Factors and Expectations

Factors that can impact Solana in 2024

The following are the major factors that can impact and govern Solana’s price this year:

Market conditions like liquidity and inflation: As we know 2022 wasn’t a good year for the entire crypto market because the conditions of liquidity and inflation were not in favor. However, 2023 was much better with improving liquidity sentiments given the dropping inflation.

Use cases: Until now, Solana was distinguished because of its high speed. However, there are many other blockchains in the market that can offer higher speed. Thus, to be competitive in the market, Solana needs to increase its use cases this year.

Solana is trying to make its consensus at the speed of light, meaning that it aims to further increase the speed. Solana is also advancing its mobile crypto transactions with the Solana Mobile Stack by Solana Mobile. They have introduced the Solana dApp Store for mobile dApps. QUIC has been developed for communication and is active on Mainnet-beta. Stake-weighted QoS is introduced to address spamming from unstaked nodes. Automatic audits are in place to identify development errors. Local fee markets are launching, allowing users to prioritize their transactions for an additional fee. A new standard, Token-22, is being developed to increase Solana’s application range. “Turbine Optimizations” will improve Solana’s data transmission, and automated audits aim to enhance platform security.

Orbs Price Prediction

Solana Price Prediction: FAQs

What will Solana be worth in 2025?

Solana is predicted to reach $251.0 by 2025. The main triggers include improvement in the macroeconomic environment, a significant bump in the use of the Solana blockchain, and outstanding Solana issues being resolved. The main risks include increased regulation, and Solana’s failure to improve execution capabilities over the next 3 years.

What will Solana be worth in 2030?

Solana is predicted to reach $536.0 by 2030. The main triggers include the massive adoption of blockchain and blockchain applications and the reduced power of central banks and currencies. Major risks include poor Solana implementation, deterioration of the global economic environment, trade wars, and government regulation.

What will Solana be in 5 years?

Solana will be worth $349.0 in the next 5 years. This assumes improved macroeconomics, a significant bump in blockchain adoption, and excellent Solana execution of plans

Where to buy Solana in Canada?

In Canada, users can buy SOL cryptocurrency from crypto exchanges such as Bitbuy, KuCoin, Newton, Binance, Crypto.com, Coinsmart, and Uphold.

Who are Solana’s smart contract developers?

Solana was developed and founded by Greg Fitzgerald, Erik Williams, and Anatoly Yakovenko in 2017.

How High Can Solana Go?

Solana is expected to reach a maximum price level of $542 by the end of 2030 (as per the price prediction). However, its actual price might slightly vary depending upon the market conditions of economic factors (such as inflation and liquidity) and hence, it can even go higher than the expected price if everything turns out to be in its favor.

Will Solana Survive?

It is difficult to predict if Solana has a long-term future. A Solana does many of the same things that other blockchains do. If blockchains take off, Solana will get a small share and will do well. However, should the growth remain tepid, smaller players like Solana are likely to be hammered first.

How to buy Solana?

Solana cryptocurrency can be purchased on various CEXs and DEXs including Binance, Coinbase Exchange, KuCoin, Kraken, Bitfinex, Bithumb, Gemini, Bittrex, Bitstamp, Gate.io, OKX, Bybit, raydium and Balancer.

Solana can be purchased in many ways.

(A). Use your currency (Dollars, Pounds, etc) to buy Solana on any of the Cryptocurrency Exchanges – Coinbase, Binance, etc

(B). Use your existing cryptocurrency wallet and a DEX to exchange your cryptocurrency with another cryptocurrency

If you wish to purchase from a cryptocurrency exchange, the process is fairly simple

• Create an account with any of Coinbase, Binance,Crypto.com, Kraken, etc. This will need some basic documentation that ensures KYC so that these exchanges are not used for Money Laundering. Bigger exchanges tend to have a higher fee while smaller tend to lower fees but are regarded as less safe.
• Each of these exchanges has various features and transaction fees. So evaluate them carefully.
• Add a payment method (Bank account, debit or credit card, wire transfer) and then fund the account
• Start trading by selecting the SOL trading symbol and then enter the quantity
• On Binance, you can use peer to peer method to buy from other users
• You can store your crypto in the trading account or your wallet(You need to open another account for that)

Check out 350 Crypto Price Predictions and Sentiments in one page

Note: Please consult a registered investment advisor to guide you on your financial decisions.