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Solana (SOL) is a leading cryptocurrency with a Proof-of-Stake consensus mechanism. In 2021, the coin grew by 12,000%. Will it be able to repeat the success again and where will it be in 2025-2030?
Solana (SOL) is a young cryptocurrency introduced in 2020. She managed to survive the ups and downs. Today, SOL is the largest crypto using the Proof-of-Stake (PoS) mechanism. And also one of the first to implement Proof-of-History.
Anatoly Yakovenko is the co-founder of Solana, who started his career at Qualcomm. Since 2017, he has worked on the Solana Labs project with a colleague from Qualcomm, Greg Fitzgerald. Many members of the Qualcomm team joined the project, and in 2020 it was launched.
At the time of launch, the SOL token was below $1. But in 2021, the cryptocurrency added 12,000% and reached a record $ 258. Comedian Steve Harvey and other opinion leaders joined the hype around Solana. But 2022 turned out to be less fortunate for cryptocurrencies – SOL also failed to avoid a blow.
At the time of writing, 1 SOL is worth $36, and over the past week, the crypto has lost 19%. But perhaps everything is better than it seems.
A positive look at Solana
Solana is one of the fastest growing cryptocurrencies, which is actively used for its intended purpose – for transactions. The average transaction fee for SOL is $0.0002, making it one of the most economical tokens. At the same time, the number of validator nodes exceeds 1,800, which means that Solana is also one of the safest platforms. Low commissions do not affect speed or scaling, and the team plans to keep them at the same modest level in the future.
Current solana figures
The cryptocurrency market began to fall in 2022. By March, Solana had depreciated to $80. In April, the crypto rose to $ 135, but then again took a course to decline.
By the end of 2020, Solana’s market cap was just over $70 million. On November 6, 2021, Solana’s cap reached a peak of $78 billion. At the beginning of 2022, its market capitalization was estimated at $ 55 billion, and on March 13, it reached a local low of $ 25 billion. As it is easy to guess, in April the indicator briefly increased, but continued to decline. The result of SOL now is a cap of $13 billion.
Both general factors led to the fall – problems in the macroeconomy, the pressure of regulators on the crypto market, the collapse of Terra LUNA – and failures in the work of the SOL network.
The network’s revenue decreased by 44%, TVL – by 68% compared to the beginning of the year.
Forecast for Solana for 2025
Team Changelly claims that the minimum and maximum prices for Solana in 2025 will be $ 174 and $ 213. Basically, in 2025, SOL will trade near $ 179. The potential ROI of SOL is estimated at 441%.
At Finder there are several predictions. According to a forecast put forward in July, SOL will reach $166 by 2025. In January 2022, the team was more optimistic, expecting SOL to grow to $486 in 2025.
Alex Nagorsky of DigitalX is optimistic about the platform, pointing out that Solana has several promising updates that have reduced network downtime. Solana has captured a significant portion of the NFT market from Ethereum and remains a strong player among Tier 1 blockchains.
Forecast for Solana for 2030
The forecast for the cryptocurrency for 8 years ahead, of course, is speculative, but some well-known observers have tried to do this.
Analytics Finder a new report predicts that by 2030, 1 SOL will cost $512. In the January report, the team was more optimistic: the SOL rate in 2030 was estimated at $ 1,267.
Gavin Smith of the Panxora Hedge Fund notes:
SOL is one of the leading contenders for the smart contract blockchain. They are likely to be one of the main beneficiaries if Ethereum updates do not provide lower transaction fees.
Based on AMBC