Solana Prediction: How to buy Solana?

Solana Price Prediction 2022-2025 (Aggregate Price): Solana’s price is predicted to be marginally above $40 by the end of December 2022 (Average Price).

Is Solana a Good Investment?: Despite the current volatility, Solana is a good investment which is evident from its last performance.

Will Solana Recover: Yes, Solana is likely to recover in the future but most will depend upon the recovery of the overall crypto market.


Solana Price in USD

Solana is a blockchain platform that supports smart contracts including NFTs. It was created as a competitor to the Ethereum blockchain network. As it is known that most cryptocurrency projects are based upon the Ethereum blockchain, the Solana blockchain serves as an alternative to it. One of the popular cryptocurrencies based on the Solana blockchain network is Stepn. Here are some facts about Solana:

  • Solana is a public blockchain network with integrated smart contract functionality.
  • SOL is the native token of the Solana blockchain network.
  • Solana was first proposed by Anatoly Yakovenko in November of 2017.
  • The first block of Solana was created on March 16, 2020.
  • Solana uses a consensus mechanism between proof of stake and proof of history.

Competition of Solana: Ethereum, Cardano.

Solana Price Prediction 2022: Performance in 2022

YTD
Cardano -68.4%
Ethereum -64.5%
Bitcoin 57.8%
Solana -80.7%

Solana Price Prediction 2022-2030: Is Solana a Good Investment?

Solana had a dream run in 2021. The Solana price was less than $2 at the beginning of 2021. In August 2021, SOL price for the first time went over $50 but the dream run of Solana began in September.

The price of 1 SOL went over $200 and it went on to reach $250. However, there was some retreat in the price of Solana in the last month of 2021. SOL price was marginally over $170 by the end of 2021. 2022 has not been a year for Solana. From trading at over $170 in January 2022, Solana is now trading below $50.

Therefore, a question arises, ‘Is Solana a Good Investment’?

Here are some facts supporting Solana:

Faster Than Ethereum

The Solana blockchain is the fastest in the world and has been recognized as such by the industry. It is capable of 50,000 transactions per second with a finality time of four seconds. This makes it more than twice as fast as Ethereum and more than ten times faster than Bitcoin.

Low Fee

Solana differs from all of these other projects because it uses a consensus algorithm called Proof of History (PoH). Unlike traditional Proof-of-Work (PoW) algorithms, PoH does not require an expensive mining process; instead, it relies on verifiable mathematical proof instead of computational power. This means there will be no mining fees on the network, and transaction costs will be meager.

NFT and Smart contracts

Solana has jumped into the NFT market and is ready to share its NFT option. Solana has been looking at non-fungible tokens and smart contracts as a way to expand their business, but they want to ensure they’re doing it right. The NFT industry has gone wild over the last year, and many companies are jumping on board.

The non-fungible tokens became a high-growth industry opportunity followed by epic sales hosted by eminent digital artists. Leveraging this expanding industry, Solana jumped into the market to share the NFT option with everyone.

Solana Leads In the Derivatives market.

Solana has incredible activity in its on-chain data and derivatives market. The network’s TVL has increased by over 15% in the last six months. It seems to close the gap between TVL, active users, and the derivatives market.

Therefore, despite the volatility, Solana remains a strong investment choice for those looking for a solid long-term investment.

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.
Solana Price Prediction 2022

Solana has been the worst-performing cryptocurrency when compared to the performance of Cardano and Ethereum this year. In the last 2 months, Ethereum has made some progress but for Solana, there has been almost no change in the outlook.

Overall, all three competitors have lost big this year. Solana is the ultimate loser as it has lost around 80% of its value since January 2022. Solana was trading at over $170 in the first week of January 2022 and now it is trading below $50. Ethereum’s price was well over $3000 in the first week of January and now it is struggling below $2000.

Looking at the performance of Solana and also comparing it with that of Cardano and Ethereum it is highly unlikely that Solana will reach its January 2022 value. One of the main reasons for this is the current condition of the world economy and the rising inflation. Added to it there is fear of the US Fed increasing the FED rates once again. Therefore, for Solana to reach, all these factors need to work in tandem.

The geopolitical environment should be positive and more investors should flock in to invest in Solana. Unless that happens, it is unlikely that Solana will rise this year.

Transaction Statistics

NFT: According to Cryptoslam, sales of NFT on the Solana blockchain have fallen from $311 M in April 2022 to $32 M in August 2022. Ethereum too was struggling with sales on the Ethereum blockchain having fallen $3.3 B in April to $338 M in August. Immutablex saw a drop in sales from $35 M to $16.6 M.

DeFi: According to DeFiLlama, DeFi TVL on the Solana blockchain has remained in the $1.5 B range since July 13th peaking on July 31st at $2.15B. DeFi TVL Ethereum on the other hand has risen from $30B to $35B peaking on August 14th at $39.8 B

How much is Solana worth in 2022

Can Solana Reach $100: A Simple Calculation

Solana Price Prediction 2022

If Solana gains 30% a month at the current market price, Solana Price Prediction 2022 is slightly over $99.6.

If Solana gains only 5% a month, Solana Price Prediction for 2022 end is $42.39.

Solana Crypto Prediction 2025

Solana Crypto Prediction for 2025 is $151. (This prediction is based upon the aggregate prediction or average of predictions by multiple platforms)

Now if Solana gains, 10% a year, the maximum Solana Price Prediction 2025 is $51.36. If Solana gains 30% a month from now, SOL Price Prediction 2025 is $84.78.

Solana Price Prediction: Aggregate Prediction

Solana Price Prediction 2022 $41
Solana Price Prediction 2025 $146

Note: The Aggregate Solana Price Prediction is the average of Predicted Prices by different platforms.

Solana Price Prediction: Comparing Solana Vs Cardano on the following aspects:

Solana Prediction: How to buy Solana?

Solana can be purchased in many ways.

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

SOL Price 2021

Recap of Solana’s Performance in 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.

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. 

Crowdwisdom360 Crypto Predictions Page

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