Solana Price Prediction: Solana to Pump In July?

Solana Price Prediction: Solana to Pump In July?
Solana Price Prediction: Read our analysis on the Future of Solana and the price prediction for the coming years.

Solana Price Prediction 2022 is $48. By the end of 2022, Solana is expected to remain below $50.
Solana Price Prediction 2025 is $89. Even by the end of 2025 SOL, the price is expected to remain below its ATH. Solana’s price will be below $100 by the end of 2025.

The maximum Solana Price Prediction 2030 is $755.

The latest price of SOL Token is:

Solana Price Prediction: Performance Analysis 2022

In the last 24 hours, the momentum of Solana has been mostly bullish. The SOL price was trading close to $33 24 hours ago, now with the market condition improving, the SOL price is trading close to $35. The trading volume of Solana is up over 100% in the last 24 hours and the market cap is up nearly 4%. Solana remains to be the 9th largest cryptocurrency in terms of market cap rank.

image 55

On the weekly chart, SOL remains to trade negatively. Solana’s price was on the brink of breaching $40 7 days ago, however, the price crashed and went below $30 once again. There has been some recovery in the last few days. But the price of Solana is trading lower than its price 7 days ago.

image 56

Solana has been trading lower in 2022 and this has been one of the major concerns for the investors. Solana’s price is down over 80% since January 2022. SOL is one of the worst-performing cryptocurrencies this year. Solana’s rival Ethereum is down around 70% since January 2022.

In the last 5 days, there has been a minor improvement in the overall crypto market. Solana has gained around 7% in the last 5 days while ETH is up nearly 10% in the last 5 days.

SOLETHADADOT
5 Days+6.8%+9.3%+1.8%+0.3%
YTD-80.1%-69.4%-66.2%-75.4%

Solana Price Prediction: Forecasts for the next few years

Most projections are quite conservative and take into account the performance so far this year and the likely scenario in the coming months. Solana has an additional issue of assuaging investors that it will not face any more hacks or Network Outages.

Max Target
Max Solana Prediction for 2022$48
Max Solana Prediction for 2025$89
Max Solana Prediction for 2030$755

Solana Price Prediction 2022

Max
Average$48

Solana Price Prediction 2025

Max
Average$89
10k Jackpot NewSizes EH 07 3

Solana Price Prediction 2030

Max
Average$755

What is Solana and What Makes It Valuable?

Solana is an open-source, high-performance, permissionless project that enables developers to create decentralized apps (dApps). It is often regarded as the “Ethereum Killer” because it is designed to solve many issues associated with the Ethereum blockchain. 

Solana utilizes a combination of PoS and PoH consensus models to verify and record transactions. This combination allows Solana to process transactions faster and with a meager cost. In fact, the transaction fees charged by Solana are just a tiny part of the second-largest Blockchain (ETH).

  • Solana is the best competitor of Ethereum due to its lightning-fast speed and lower transaction fees.
  • Solana can process over 50,000 transactions per second (TPS), whereas Ethereum can just process within a range of 15-45 TPS
  • Solana utilizes a Proof-of-History consensus mechanism, an innovative approach that enables quick turnaround times during transactions
  • Solana is the third-largest chain in terms of TVL, with a total of $7.9 billion value locked in the ecosystem.

Solana Statistics

  • Market Cap: $11.2 Billion (Lower in Last 24 Hours)
  • Rank amongst all Cryptocurrencies: 9th
  • Competitors of Solana: Ethereum, Cardano, and Polkadot
  • Current Performance: Average Performer [Compared to Ethereum, Polkadot and Cardano]
  • The circulating supply of Solana is 322,758,945.

Is Solana a good investment 2022?

Solana was listed on FTX in April 2020. It rose from nearly a dollar to $1.5 by the end of the year. It then rose to $170 by the end of 2021. It has fallen steeply to $37 now. Let us compare Solana 2 year performance with other cryptocurrencies.

Solana has had a tremendous run outperforming leading Layer-blockchains.

Screenshot 2022 07 05 at 6.00.36 AM

2022 has been tough for Solana with Solana underperforming all the leading Layer-1 Blockchains by at least 13% points. The main reason for the difference is repeated security concerns with the Solana Blockchain. Just last weekend DeFi Crema Finance based on Solana lost $8.8 million in an attack. Security issues had been quite rampant in 2021 as well but the Bull market did not penalize Solana as the current Bear market.

On NFT Sales, Solana was at its peak in October 2021 after which the gap between Solana and Ethereum increased substantially. However, with Ethereum’s struggles in June, Solana relatively had its best performance in June 2022 with NFT sales on Ethereum at 6.6 times on Solana. It was 10.4 times more in May. As a consequence, Solana was the best performing Layer-1 Blockchain amongst Solana, Ethereum, Cardano, and Polkadot.

image 47

On Defi, TVL on Solana fell from $15 B on Nov 9th, 2021 to $2.5 B on June 30th. On Ethereum, this fell from $161 B to $46 B. However, in June alone, TVL on Ethereum fell from $72 B to $46 B while it fell from $4.0 B to $2.5 B. The fall is marginally higher for Solana.

Both the metrics as well as last 1 month’s price performance suggests that Solana has probably turned the tide.

In Sum, Solana has been a good investment since its launch. However, 2022 has been tough on account of overall market issues as well as frequent security issues with Solana. The last 30 days have been good for Solana and should this suggest Solana would be a good investment in 2022.

Sol Price Prediction 2022: Historical Data to Support Solana Investment

PriceDate/ Days
$ 0.83April 10th, 2020
$ 194 days
$ 10220 days
$ 100180 days
$ 20011 Days
ATH, $ 260.0657 days
  • The crash in Solana was related to the entire crypto market trading lower due to inflation, however, it has been noticed in past SOL has quickly stabilized.
  • The demand for Solana is expected to increase as the NFT and DEFI markets are expanding.
  • Solana has technical superiority and efficiency
  • Solana is a high-risk high-reward asset.

Solana Price Performance 2021

The year 2021 was the best year for Solana investors. The cryptocurrency was priced just below $0.5 on the 1st of January 2021 but at the end of the year, Solana closed at above $170.

Will Solana Recover?

Some observations from the table below. In 2022,

  1. Whenever both Cardano and Solana have fallen, Solana has fallen more
  2. Whenever both Solana and Cardano have risen, Solana has risen much more.
SolanaEthereumCardano
January-41%-27%-20%
February0%9%-9%
March23%12%19%
April-31%-17%-33%
May-46%-29%-17%
June-18%-42%-19%
July-1%-1%0%
YTD-82%-72%-68%

The Micro and Macro problems

Solana’s repeated security and technical issues have caused immense harm to $SOL. The fact that they occur at an alarming regularity is a major risk as far as Solana is concerned.

The Macro issue has been discussed and done to death, higher rates and inflation have caused many investors to pull out of both cryptocurrencies and stocks. This is likely to continue for some time and is the single biggest factor why cryptocurrencies are struggling.

Security issues aside, Solana has many things going in its favor including TVL, NFT Sales, and Network revenues. These should recover once the economy gets better. We believe Crude Oil prices should fall in August or later which is when Solana should benefit from increased transactions. We also believe that Solana will outperform Cardano. Cardano may be better tech but Solana is better at commercialization.

On the other hand, if Solana’s network outages continue, its chances of recovery will keep diminishing.

Solana Price Prediction: Current Outlook

IndicatorTrend
Overall OutlookHighly Positive
1. Market’s WisdomPositive
1b. Market DataHigher
Market CapHigher
Market Cap RankSteady
Trading VolumeHigher
1b. Technical RecommendationBuy
2. Crowd’s Wisdom Positive
2a. Crowd’s BuzzPositive
Google Search VolumesHigher
Social Media BuzzHigher
2b. Social Media SentimentHigher
3. Bitcoin RecommendationBuy

Solana Price Prediction: Market Cap and Volume Data

MetricValueTrend
Market Cap Rank9thSteady
Current Market Cap$11.89 BHigher
Volume Traded in Terms of $ Value$1349 MHigher

Solana Price Prediction: Google Search Trends

The interest level on Google for Solana is higher than yesterday.

Solana Price Prediction: Social Media Buzz

LunarCrush StatisticsVolume/ RankTrend
Social Mentions122 KHigher
Social Engagement139 MHigher

Solana Price Prediction: Social Media Sentiment

Last 7 DaysLast 24 HoursTrend
Net Social Media Sentiment ($SOL)+19.9%+27.3%Higher

What is Working For Solana?
1. The Market cap value of Solana is up nearly 10% in the last 24 hours.
2. There has been a surge in the trading volume of Solana.
3. The Google Search volume of Solana is higher.
4. The social media sentiment is positive and the social media buzz is higher.
5. The technical signal for the next 24 hours for Solana is BUY.

How to buy Solana?

Solana can be purchased in many ways.

  • Use your currency (Dollars, Pounds etc) to buy Solana on any of the Cryptocurrency Exchanges – Coinbase, FTX, Binance etc
  • 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 if fairly simple

  1. Create an account with any of Coinbase, Binance, FTX, 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.
  2. Each of these exchanges has various features and transaction fees. So evaluate them carefully.
  3. Add a payment method (Bank account, debit or credit card, wire transfer) and then fund the account
  4. Start trading by selecting SOL trading symbol and then enter the quantity
  5. On Binance, you can use peer to peer method to buy from other users
  6. You can store your crypto in the trading account or your personal wallet(You need to open another account for that)

How to Stake Solana?

Holders can earn rewards by staking their tokens. The more stake you stake, the more rewards you earn. SOL can be staked on Crypto exchanges as well as wallets

Crypto Exchanges that support SOL staking are 

  • Binance 
  • Kraken 
  • FTX 
  • Crypto.com

Wallets that support SOL staking are 

  • Phantom Wallet 
  • Math Wallet 
  • Atomic Wallet 
  • Exodus Wallet 
  • Zelcore 
Solana Price Prediction: Solana has turned the tide in June, major Pump ahead?

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

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