Solana is one of the crypto startups invented to solve the difficulties in scalability. It runs on its own blockchain using the Proof-of-History consensus algorithm. It installs historical data in blockchain to prove the transactions which are saved in the digital ledger.
Do you know? Solana can process 50k transactions per second.
In this article let us try to understand in-depth on the Solana Price Prediction for 2021 and beyond and we will look at some marketers’ views on SOL Price.
Now, let us begin with some basic information on Solana.
|Market cap||$ 1,757,591,039.0000|
|Circulating Supply||$ 260,350,957.2688|
|Trading Volume||$ 40,301,578.0000|
|All time high||$ 6.9100 February 5, 2021|
|All time low||$ 0.5008 May 11, 2020|
What is Solana?
Solana is a high-performing digital currency that runs on the blockchain which supports smart contracts and decentralized applications. It uses a proof of history consensus mechanism. The transactions are timestamped to maximize efficiency. It is a fast and secured blockchain providing the open infrastructure required for global adoption. It can process 50k transactions per second.
The project was established in 2017 by Anatoly Yakovenko who was a software developer in dropbox. Solana has a particular hashes that can be used to input data for every transaction. SOL has a unique feature called Gulf Stream which enhances the scalability.
Solana Technical Analysis
Solana initiated its journey in the crypto market on 10 April 2020 with a price of $0.79 according to Coinmarketcap. Later, the price started to variate and declined to as low as $0.52 by mid May. The price started to recover further and reached $0.99 at the end of June.
Interestingly, the price spiked to $1.33 by mid-July and continued to swing after. The digital currency rose to $1.84 by the end of July. Heading towards an upward trajectory, the coin dramatically hit $3.77 by mid-August and further plunged to $2.82 by the end of August.
Effectively, SOL spiked to $4.84 by early September to reach an All-Time-High by breaking all its previous price records. Shockingly, the price sank to $2.40 in a few days as it reported it’s All-Time-High and started to grow after. Solana managed to reach its resistance level at $3.80 and failed to remain stable as it again dropped to $2.56. At the end of September SOL was trading at $2.96.
With certain variations, Solana managed to be in the $2 range throughout October. Desperately, the price slumped to $1.35 by early November because of the massive investment by users as well as the high selling pressure. Later, the price started to recover and reached $2.41 by the end of November as Bitcoin continued its price rally. Solana declined further to $1.47 in December as the bears were headed into pulling the prices.
At the end of December 2020, SOL traded at $1.50.
Solana Price Prediction 2021
With a steady recovery in price, SOL traded at $1.60 during the start of January. Progressively, the altcoin continued to recover. The coin reached its resistance level to hit $3.88 and further started to variate. The price Solana might escalate if it grabs the attention of the marketers and enhances its user base. The price may rise simultaneously. At the end of 2021, Solana might be traded at the $18 mark.
SOL Price Prediction 2022
SOL might commence the year with a trading price of around $20. The price is anticipated to grow further if the bulls hold the market for a longer period. The price may hover between $25 and $35 for several months. By the end of 2022, Solana might exchange at $40.
5 years Solana Price Prediction
In 5 years, SOL might concentrate on inbound developments and it may provide more platforms for developers to create decentralized applications. It may reach newer heights and focus on certain partnerships for the betterment of its protocol. By 5 years Solana could reach the $100 mark.
Solana Market Prediction
According to CoinArbitrage, the price of Solana could be3.75057 at the end of 2021. In the next 3 years, Solana could reach the highest price of $26.8402 and the lowest price would be $2.31785.
According to WalletInvestor, Solana could be an outstanding long-term investment. It would trade at $8.060 at the end of 2021 and $20.630 by the end of 2025.
According to Gov.capital, Solana would be traded at $6.29625 by the end of 2021 and $19.3407 by 2025.
As per the analysis of TradingBeasts, Solana will be traded at $6.14581 at the end of 2021 and $11.32595 by 2024.
Our SOL Price Prediction
Solana entered the year 2021 with a trading price of $1.60. On a bullish note, the altcoin started to rise further. As Solana is an emerging DeFi coin, its price might likely boom.
It might concentrate on certain collaborations to bridge its assets to DeFi. It will encourage the new upcoming startups and it could be a new competitor for other currencies in the market. By the end of 2021, it might trade around $20 and anticipated to reach up to $120 in the future.
Solana is considered as an unique coin because it has features like scalability, low cost and higher transaction speeds.
No, SOL cannot be halved as it only mined.
Solana can transact upto 50k per second.
Solana can be traded on exchanges like Binance, OKEx, CoinEX, CoinDCX, Huobi Global and many more.