Solana (SOL) is a blockchain network created in 2017 by Anatoly Yakovenko and Greg Fitzgerald. It first entered the crypto trading market with its coin, SOL, in April 2020, debuting at $0.79 per coin. Since then, it saw a rocky climb to its record high of nearly $260 in November 2021, ultimately plunging back down to $0.50 on May 11, 2020.
It has since climbed to its current price of just over $40 as of June 9, 2022. However, some experts believe Solana could hit $105 in 2022 — which leads us to our Solana price prediction for 2022 and beyond.
Solana is hailed as the fastest cryptocurrency around, processing 2,700 transactions per second, according to Coindesk. Because of this, Solana has managed to overcome one of the major stumbling blocks to widespread crypto adoption as a valid currency across the world, and putting people closer to commonly accepted, decentralized finance.
The low fees, low congestion and fast processing speeds mean that Solana could, someday, step up to compete with Visa credit cards as a commonly accepted payment form.
Solana is tied to a stablecoin, Tether. Stablecoins are known to be less volatile than other cryptocurrencies, as they are tied to the value of the U.S. dollar. This means solana is less decentralized than options like bitcoin, ethereum, or cardano, one of the other large altcoins, which can be a plus for some investors and a drawback to others.
Like Cardano, Solana uses the more efficient Proof-of-Stake technology, giving miners access to more coins based on how much they have already mined. It also uses Proof-of-History to confirm transactions are in the right order. The PoH functionality increases the network’s speed, while PoS helps keep it running efficiently.
A Bright Future in NFTs
Solana’s blockchain is also on the cutting edge of non-fungible token (NFT) transactions. Solana hosts many NFT marketplaces, including Metaplex, Solanart and the widely used Magic Eden. NFT traders like the versality and low fees of Solana, and the blockchain is giving Ethereum a run for its money when it comes to NFT transactions.
Should You Buy Solana?
All of this to say, the Solana blockchain is highly efficient, very stable and offers low transaction fees for investors. These factors combine to make it a good investment as far as cryptocurrency goes. SOL is trading, right now, closer to its lows, making it a good deal.
Coinbase.com shows that 73% of Solana’s trading activity is purchases, while only 27% of investors are selling. Of course, it’s important to remember that any cryptocurrency — even those tied to stablecoins — is highly volatile.
Never invest more than you care to lose. And always consider holding your investments long term to achieve the greatest return-on-investment, especially in the crypto market.
What Is Solana’s Market Cap Right Now?
Solana has a market cap of $13.9 billion, making it the 9th largest cryptocurrency, ahead of dogecoin and polkadot according to CoinMarketCap. Right now, SOL is a long way from its high point of just under $260, which means it could be a good time to buy. The price is trending downward so far in 2022, but it could make a reversal at any time. The question is: Will Solana keep going up?
Experts foresee SOL beginning to rise in 2022 and, based on market predictions, the future certainly looks bright. All of this begs the questions: What will Solana be worth for the remainder of 2022? How high will it go? Will it continue to climb? And what will Solana be worth in 2030?
What Will Solana Be Worth: 2022?
Experts predict Solana will soar in 2022, potentially reaching close to previous highs by the end of the year, according to Gov.Capital.
Coinpedia.org is predicting values of $105 as a high for 2022, with a worst-case scenario of roughly $76 by the end of the year if delays implementing new technology occur.
A more modest prediction from DigitalCoinPrice.com values SOL at $57.60 by the end of 2022. Similarly, TradingBeasts.com said the alt-coin could end the year at $56.69, and that the lowest price we will see is right around $38.55, which is just under where it sits in June.
What Will Solana Be Worth in 2023?
Let’s look ahead to 2023. Some experts are predicting a spike for the coin. Gov.Capital believes it could climb as high as $291 by mid-year 2023. That would be a jump of nearly 650%, based on a Solana price prediction derived from volume changes, price changes, market cycles and other alt-coins.
DigitalCoinPrice.com is much more conservative, predicting a high of just $64.27 and a low of $54.90.
How Much Is Solana Worth in 2025?
While it’s impossible to predict the future, analysts use sophisticated algorithms to create Solana price predictions up to 10 years out. Imagine the year 2025, and you invested $1,000 in Solana today at roughly $40 per coin. That would give you an investment of 25 coins.
By 2025, according to DigitalCoinPrice.com, you would have a minimum of $1,774.25 at $70.99 per coin or more than $2,000 at $85.04 per coin, effectively doubling your money.
Gov.Capital thinks Solana will continue to climb through 2023 and beyond, though. It predicts a high of nearly $1,642.37 by the end of 2025, with a minimum climb to $1428.15. In a best-case scenario, your 2022 investment could be worth more than $41,000 by 2025.
What Will Solana Be Worth in 2030?
Looking ahead to 2030, DigitalCoinPrice.com sees SOL continuing to rise, reaching a high of $196.07 and a minimum of $181.98. Your $1,000 investment could be worth as much as $4,901.75 if DigitalCoinPrice.com is right.
Solana is considered the fastest blockchain with a bright future ahead as its technology continues to advance. The 9th largest crypto based on its market cap, Solana’s popularity is continuing to grow. It had a huge upswing in 2021 but dipped along with the rest of the market in 2022. Today, experts are looking for it to rise again.
You can buy and sell Solana on a number of crypto exchanges, including Gemini and Coinbase.
Information is accurate as of June 9, 2022.
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About the Author
Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.
Today, Tulip Protocol made the announcement that they have integrated Chainlink Price Feeds in order to better secure their yield aggregating platform that is running on the Solana mainnet. The team had previously stated their intention to integrate Chainlink Price Feeds, and at this point, the connection has been completely put into action. Chainlink is the premier decentralized oracle network in the world, safeguarding tens of billions of dollars in smart contracts. It has diversified its offerings across other blockchains, notably Solana, Fantom, Polygon, BNB Chain, and others.
In a recent blog post, the team behind the Tulip Protocol explained that they had integrated Chainlink to provide users with more confidence that leveraged positions will be liquidated equitably using extremely accurate price data and that the protocol will continue to be completely collateralized at all times.
According to Tomasz Wojewoda, Head of Global Sales at Chainlink Labs:
“We’re pleased that Tulip Protocol has integrated Chainlink Price Feeds on Solana, helping secure its yield aggregation protocol with highly robust, decentralized market data. With the high-throughput performance of Solana and the strong security guarantees of the Chainlink Network, Tulip Protocol is able to empower users with a performant and secure platform.”
Tulip Protocol Seeks To Take Advantage Of Solana
Tulip Protocol brings together lenders who receive a return on their deposits and borrowers who are interested in gaining access to leverage. Users who initiate leverage positions are responsible for maintaining a loan-to-value (LTV) ratio that has been previously established. The Tulip Protocol then uses the asset price data that is provided by Chainlink Price Feeds to verify that this ratio is accurate. If the value of the collateral falls below the threshold that was established by the protocol, then their position will be immediately liquidated to assist in guaranteeing that the lenders will be repaid.
Tulip Protocol intends to capitalize on Solana by giving users the ability to more regularly reinvest their income and grow their assets without having to pay exorbitant amounts of gas expenses. Chainlink oracles can now be natively integrated on Solana, making it possible for Solana-based applications to benefit from enhanced levels of security and transparency. Yesterday, OpenOcean made the announcement that they would be integrating Chainlink Price Feeds in order to help secure the limited order functionality on many chains. These chains include Avalanche, Ethereum, Polygon, Fantom, and BNB Chain.
According to Senx, Co-Founder of Tulip Protocol:
“We’re excited to be using Chainlink Price Feeds on Solana to help secure our yield aggregation platform. By leveraging the most secure and reliable on-chain data available, we’re able to provide our lenders and borrowers with greater assurances that liquidations are based on accurate price data, and the protocol will maintain a healthy loan-to-value ratio through all market conditions.”
Allowing Stakers To Benefit From Higher APYs
Natives of the blockchain as well as newcomers to the technology are beginning to understand that decentralization does not necessarily equate to a secure platform. Given that Web3 services are currently disclosing their susceptibilities to attacks from both within and outside the network, further initiatives should be undertaken to improve the safety of user assets. Fortunately, a growing number of blockchain businesses are beginning to add various levels of security to their services in order to solidify the trust of their existing customers and attract additional investors in the near and distant future.
Tulip Protocol is the very first yield aggregation platform to be built on Solana, and it features auto-compounding vault techniques. The dApp was developed to make use of Solana’s blockchain, which has a low cost and high efficiency, hence enabling the vault techniques to compound frequently. Stakeholders are able to reap the benefits of greater APYs as a result, without the need for active management.
On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss the latest updates concerning the recent Solana (SOL) hack.
To kick things off, we broke down the latest news in the markets this week:
Bitcoin realized price bands form key resistance as bulls lose $24K, significant whale activity between $22,000 and $24,800 adds to the complexity of the current spot market setup. Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range. When will we finally break out of this price range and make the move towards $30K?
Circle freezes blacklisted Tornado Cash smart contract addresses, Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Could this mark the end for Tornado Cash or is there a way they can redeem themselves?
Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Have some funds ready to buy further downturns.
Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest regarding the top two cryptocurrencies.
After Marcel’s market analysis, our resident experts discuss whether your SOL is safe and the latest updates on the Solana hack. We also discuss why the network has been victim to so many hacks and downtimes. What exactly do these exploits mean for the Solana platform and if you should be worried.
Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Radicle’s RAD and DigiByte’s DGB.
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a 1 month free subscription to markets Pro worth $100!
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.
Singapore, Singapore , Aug. 09, 2022 (GLOBE NEWSWIRE) — Today, the ZepetoX team (ZTX, ZepetoX.io) announced its foray into the web3 space, sharing its vision to build an open world that empowers creators and communities to build, play and earn.
ZepetoX is the crypto metaverse initiative jointly incubated by ZEPETO – Asia’s largest metaverse platform with over 320 million registered users – alongside leading global blockchain organizations including Jump Crypto.
As the sole blockchain project comprehensively backed by ZEPETO, ZepetoX will have exclusive ties to ZEPETO in terms of IP including technological, design, and content assets as well as bridges to facilitate user onboarding between the two platforms. ZepetoX’s blockchain development efforts will be advised by Jump.
“ZepetoX is our official venture into the blockchain industry. We feel that web3 opportunities should be advanced through a crypto-native approach, which is why we are excited to have Jump as a contributor to developing a new platform that would have exclusive connections to ZEPETO. Overall, we believe that ZepetoX can build the ideal web3 platform to not only bring blockchain to our existing users but also to expand our footprint in the blockchain space through various disruptive initiatives,” said Daewook Kim, CEO of Naver Z – the operating entity of ZEPETO.
“We are excited to support ZepetoX’s efforts aimed at onboarding new audiences into the rapidly growing crypto space. ZEPETO’s expertise and technological know-hows accumulated over the past years from building an immersive social platform will serve as a springboard for ZepetoX,” said Saurabh Sharma, Partner at Jump Crypto.
Building on the Solana network, ZepetoX will offer a web-based 3D open world with varying levels of gamification integrated as well as opportunities for users to monetize via ownership of digital assets and social interaction. Ultimately, ZepetoX aims to empower self-expression through customizable avatars and lands that can be equipped with NFTs from a rich collection of assets created by diverse creators, DAOs, or communities.
“I am thrilled to see IP powerhouses like ZepetoX choosing to build their metaverse on Solana,” said Anatoly Yakovenko, Co-Founder of Solana. “Projects like ZepetoX create new pathways for onboarding millions of users to web3.”
“Our global team brings a depth of crypto native experiences and our goal is to build on the foundation of ZEPETO to spearhead the adoption of blockchain among metaverse users, developers, and creators,” said co-CEO of ZepetoX, Chris Chang.
In the coming months, ZepetoX will launch its first land sale. The lands will be tradable on the ZepetoX marketplace, which will feature a variety of different NFTs as the open world project evolves. Further details on the sale will be available on the ZepetoX website in the coming weeks.
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About ZepetoX: ZepetoX (ZTX) is a web3 company building an immersive content-driven platform for users to create, trade digital assets and enjoy social interaction. Founded in 2022, ZepetoX is the blockchain initiative of ZEPETO, widely regarded as the largest Asia-based metaverse platform boasting over 320 million lifetime users with over 2.5 billion virtual fashion items sold.