Read our detailed analysis on How High Will Solana Go This Year and the Solana Price Prediction 2022.
On November 6th, 2021 that is 9 months ago, Solana hit its all-time high price of $260.06. Since then the price of Solana has tumbled and today the price of Solana is over 80% lower than its all-time high price. Solana is currently trading below $50 and has lost around 70% of its value since January 2022. In the first week of January 2022, Solana was trading at over $170.
The latest price of Solana is:
How High Will Solana Go This Year: A Simple Calculation
What If Solana Rises 20% and 50% Every Month?
|Price as of July 29th||$43.53|
|Market Cap as of July 29th||$15.06 B|
|If Solana were to rise 20% a month, what will be Price By the End of 2022?||$108|
|If Solana were to rise 50% a month, what will be Price By the End of 2022?||$330|
If Solana gains 20% every month, by the end of 2022, Solana’s price could reach $108. If Solana rises 50% every month, we could see the price of Solana reaching $330.
How High Will Solana Go This Year: Analysts Prediction
In the last 48 hours, the momentum of Solana has been bullish. The crypto market has remained at over $1T. Here is the prediction by different analysts for Solana this year:
PricePrediction.net: After the latest surge in the price of Solana, the analysts at PricePrediction.net are slightly bullish about Solana for the end of 2022. As per them, the maximum price of Solana by the end of 2022 could be $68.27. The platform predicts the minimum price of Solana by the end of 2022 could be $59.08. For the rest part of the year, the average Solana Price Prediction 2022 is $61.46.
Technewsleader: The analysts at Technewsleader are also optimistic about the Solana Price Prediction 2022. As per them, by the end of 2022, the maximum price of Solana could be $72.45. The minimum price prediction of Solana by the end of 2022 by Technewsleader is $63.13 and the average price of Solana as predicted could be $65.13.
CoinPriceForecast: As per CoinPriceForecast, Solana Price by the end of 2022 will remain below $70. The price prediction for Solana for the end of 2022 is $67.48.
How High Will Solana Go This Year: Factors That Could Influence the Rise of Solana
Solana has been one such cryptocurrency that has been able to rise quickly and has also lost a maximum of its value very quickly. Here are the factors that could influence the rise of Solana:
- Geopolitical Events: Geopolitical events like war, an increase in tax in the US, and crypto regulations have influenced the price of Cryptocurrencies widely. The ongoing Russia-Ukraine conflict has been one of the major causes for the price of cryptocurrencies to fall. Solana’s price has been widely influenced by such events. If there is no major disruption in the remaining part of this year we may see Solana’s price rising once again.
- Glitch in Solana’s Network: Solana has been very much affected by the network glitch. Many times due to the glitch in Solana’s network there has been panic selling leading to a massive crash in the price of Solana. Therefore, even if the market condition improves, the network issue of Solana may lead to a crash in the price of Solana.
- Increase in the Long-Term Holders: The surge in the price of Solana will also depend on the holders. If there are maximum short-term holders then there are maximum chances for the price to rise temporarily as these holders look for short-term profit and exit the market after they make some profit out of their investment. Therefore, for the price of Solana to rise, there must be an increase in the number of long-term holders,
How High Will Solana Go This Year: A Video Analysis
Is Solana a good investment in 2022?
Solana had a dream run in 2021. The price of 1 SOL 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 November. The price of 1 SOL went over $200 and it went on to breach $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. This year alone Solana has lost over 70% of its value. Even the prediction platforms have predicted the price of Solana to remain below $100 by the end of 2022.
Now talking about if Solana is a Good Investment. Solana has its own blockchain network and it is one of the fastest blockchain networks. Solana still remains to be one of the best investments but if you are looking for a short-term gain, then SOL may not be a good investment for short-term gains. Therefore, for Solana to be a good investment, one needs to hold SOL for a longer period.
Solana Price Prediction 2022: Why is Solana Better than Cardano?
It is the 9th largest cryptocurrency by market cap according to CoinMarketCap. Cardano was launched in 2017 by Ethereum’s co-founder and is dubbed to be the 3rd generation blockchain. Solana is able to gain an upper hand on ADA by combining the Proof of Stake and Proof of History mechanisms which make is more secure and immutable.
Solana launched its blockchain as ‘cheap and fast’ which attracted people to use SOL in the 1st place. However, the place where ADA wins over SOL is carbon footprint. ADA claims to be carbon negative but SOL is still carbon positive despite consuming very less energy as compared to others, the Solana Foundation has said that it is still working to make is carbon neutral.