What does 2024 hold for the Solana’s price? After a breakout year in 2021 saw Solana jump over 11,000%, the so-called “Ethereum killer” crashed hard in the 2022 crypto winter – falling from its $260 all time high to below $10 by June. However, Solana has since staged an incredible turnaround with a significant surge of over 1000% in 2023 and becoming a stand out in the altcoin market.
Many crypto analysts now predict substantial long-term growth ahead for Solana in 2024 and beyond. Some see it challenging its 2021 highs once again in the coming years. In this Solana price prediction guide, we will analyze the latest Solana news and developments, dive into technical factors and expert forecasts, and make our own prediction on where the SOL token could be headed through 2024 and the next bull market cycle.
With builders and investors flocking back to Solana, the stage seems set for major gains. But risks and competitors still loom. We’ll consider past performance, current sentiment, price action, and more. Read on for our 2024 Solana coin price prediction and in-depth analysis on what’s next for this high-speed “Ethereum killer”. Can it become the third-ranked Cryptocurrency by market capitalization?
SOL Overview
Today (20 April 2024) SOL (SOL/USD) is trading at $140.14 per SOL, with a market cap of $63113630546 USD. 24-hour trading volume is $5838955612 USD. SOL price has changed by -1.6% in the last 24h. Circulating supply is 446815085 SOL.
What is SOL and the Solana blockchain?
Solana (SOL) is a highly scalable, open-source blockchain network that supports decentralized applications and can process over 50,000 transactions per second. Founded by Anatoly Yakovenko in 2017, Solana launched its mainnet beta version in 2020 and has quickly become one of the fastest growing layer 1 blockchain platforms in the cryptocurrency market.
Unlike first-generation blockchains like Bitcoin and Ethereum that can only process 10-15 transactions per second, Solana leverages innovative technologies like Proof of History and Tower BFT to achieve lightning fast speeds while still maintaining decentralization. This makes it ideal for building scalable dApps – especially in the areas of DeFi, NFTs, Web3 and gaming.
One of Solana’s standout features that developers love is that it costs less than $0.01 per transaction – significantly lower than Ethereum’s average of $2-10 per transaction. This enables it to onboard the next billion Web3 users that may find Ethereum unusable due to high gas fees.
Solana’s native cryptocurrency is SOL. It powers the blockchain, pays for transactions, incentivizes validators and can be used for stake pooling. SOL supply is currently at 566 million and new tokens are minted each year via inflation rewards at a rate of around 8% to validate transactions.
Moving forward, Solana aims to scale to over 700,000 transactions per second through improvements like pipelines, Cloudbreak and Archivers. If achieved, many analysts predict SOL’s market cap could one day rival Ethereum’s and see substantial growth in 2024 as adoption continues rising exponentially.
Solana price historical price movements
Solana launched its mainnet in March 2020, with SOL price starting off trading at around $0.77. For most of 2020, it remained relatively flat and relatively unknown outside of crypto circles. However by early 2021, interest and development activity on Solana began picking up steam. This drove up Solana’s price.
By January 2021, SOL coin price had risen to $1.51. It crossed $10 for the first time in February 2021 amid the broader crypto bull market heating up. By May 2021, SOL was trading above $50 after continued price gains. It seemed like practically every month Solana was doubling – and that exponential growth was just getting started.
In July 2021, SOL crossed above $100 for the first time as developers and investors continued flocking to its network. Memecoin project Samoyedcoin going viral on Solana added further momentum. SOL went on to crack $150 in September 2021 before going on an absolute tear through October and November.
As hype built around so-called “Ethereum killers”, SOL price went vertical – more than tripling in November alone. On November 6, Solana finally hit its all-time high of $260.06 after appreciating over 17,000% across 2021. However, it would mark the cycle top too.
Just two days after that $260 peak came news that shocked crypto markets – FTX filing for bankruptcy. Already reeling equities markets plunged, dragging cryptocurrencies down with them. Solana got hit especially hard due to exposure and links between the two companies. -By May 2022, Solana fell under $40 amid a prolonged crypto winter.
The final capitulation came in December 2022. As Bitcoin crashed to $15,600 that weekend, the SOL floor completely dropped out. Solana declined a whopping 97.4% from its all-time high – bottoming out at $7.60 that day. Most alts saw similar capitulations. It marked the darkest days of the 2022 bear market.
Solana started the first half of 2023 on the right foot, surging to over $25 in January. The coin still spent the next six months in re-accumulation, before being the stand out star of the Crypto market in the second half of 2023.
But the blockchain and developer community stayed hard at work, laying foundations for the next growth cycle. However, all throughout 2023, the SOL price trend ramped up, adding more than 1,000% ROI. The current Solana price is around $100 per coin, still up more than 10x from the SOL market low.
Solana Price Prediction by Experts
This section will look at what some crypto experts worldwide believe will be Solana’s projected value. Any Solana price prediction will be more likely than not to require much foresight, so they should be considered expert opinions. Still, a Solana price prediction sometimes guarantees where things can go. Any Solana price prediction forecast should be viewed as a guideline, not something you “throw money at.”
Changelly
Changelly believes Solana will eventually break above the $180 level, but they see that happening in December 2024, which means muted price action across the Crypto market. All things simplified, they think that the markets will more likely than not continue the upward trajectory after the crypto bubble has popped.
CoinPedia
The Solana price prediction from CoinPedia suggests that Solana price could reach a maximum level of $200 per SOL in 2024. By 2025, Solana’s price could add another $50, bringing it to $250 each SOL. Longer term, the digital asset could reach as high as $672. This is possible if the prevailing uptrend continues or institutional investors begin loading up on SOL.
DigitalCoinPrice
DigitalCoinPrice has the most bullish outlook for Solana’s price. Their maximum forecasted Solana price reaches as high as $1956 per SOL in 2033. This is nearly a decade from now, making this SOL price prediction a bit more speculative. The future price of Solana depends on a variety of factors, such as market sentiments, regulatory support, macro environment, developer activity, the ebb and flow of BTC halving cycles driving the overall Crypto market trends, and more.
Solana Price Analysis-Based Price Prediction
In financial markets, technical analysis is the study of price action, chart patterns, candlesticks, and technical indicators. These tools are used to find bullish signals or bearish signals, which can help predict the price of SOL in the future.
Solana Price Prediction 2024
Remember that any Solana price prediction will be fraught with various variables, and looking out into the future becomes increasingly difficult with time. That being said, 2024 should be a relatively constructive year.
In the Solana price chart above, there is a confirmed Three White Soldiers Japanese candlestick continuation pattern. Three White Solders consists of three bullish candles in a row of roughly the same size. This Solana forecast hints at a possible pullback in early 2024 before resuming the uptrend. The reason for this is due to three large white candles in a row. While this is a strong continuation signal, it could lead to overbought conditions that need to cool off before resuming the uptrend.
The Relative Strength Index is a momentum oscillator that gives overbought and oversold signals. Using the Relative Strength Index, we can see that the current price of SOL is significantly overbought, as the the previous Three White Soldiers pattern suggests.
Utilizing another popular indicator, the 50-week moving average, we can see that the trend is turning up. The price of Solana is also above the moving average, which is a bullish signal. A simple moving average creates a span using the closing price of the last 50 weeks. This helps smooth out price action. Many traders utilize moving averages as part of their investment strategy.
Solana SOL Price Prediction 2025
This Solana price prediction is a bit forward-looking but still based on math. This bullish chart is a comparison with Ethereum from 2018 to 2021. SOL’s price chart looks very much like the Ethereum price chart from then. They both experienced a strong move above the 0.5 Fibonacci, before rising all the way to the 1.414 Fibonacci extension.
Long-term Solana Forecast 2026-2030
It should be noted that long-term forecasts for such new technology in Solana are challenging. Therefore, take any of these SOL price predictions with a grain of salt. However, there are some experts out there that are willing to give an idea as to where they see the market going. Remember that this is simply educational in the future direction, and doing your due diligence is crucial.
Solana Price Prediction 2026
With Solana supply being unlimited but capped at 10%, this does work against future pricing. However, there has been such a massive selloff that one would assume 2026 should be better than 2022. Most experts agree that Solana will have recovered significantly by then, with most people seeing an average price of around $260 near former all-time highs.
Solana Price Prediction 2027
By the time we get to 2027, crypto will have flushed out many of the wannabes. At this point, the question is whether Solana’s growth will continue to be healthy. By the time we get to this year, we will likely understand whether or not crypto itself has gotten rid of the dead weight or will continue to dwindle.
Most experts believe that Solana will be worth much more by the time we get to 2027, but this assumes that Solana rectifies some of its outage issues. The average “guesstimate” for the year appears correct, around the $500 level.
Solana Price Forecast 2028
Solana should continue to rise rapidly in 2028, assuming all of the crypto noise and concerns around the various networks abate. Solana could reach the $70 level in that scenario. Some out there believe we will be closer to $800, but that would be assuming a lot.
Solana Price Prediction 2029
Solana continues to rise during 2029, as this point should substantiate overall crypto adoption in time. The average Solana Price prediction for 2029 revolves around the $1000 level, although there are some outliers, as you would expect.
Solana Price Prediction 2030
A short-term Solana Price prediction is going to be challenging enough, but the one thing that most experts agree on is that it will be higher by 2030. However, it’s worth noting that there are experts out there that expect a lot to act like a blue chip stock, meaning that it may double in 10 to 15 years, while there are other experts out there that think it will behave as you did in the past, rising in a parabolic manner.
What news may impact Solana coin (SOL) price in the future?
Any Solana price prediction must remember that the occasional news story will come along to move the market. While it is almost impossible to predict what news will come out, there are a few things you need to keep in mind regarding what can move the market.
The first one will be if there’s any outage. Solana has suffered a couple of outages already, and any Solana price prediction will have to be drastically downgraded if it continues to see these outages. On the other hand, a Solana price prediction needs to be upgraded if adoption starts to pick up, especially by significant corporations.
Conclusion: Is Solana a Good Investment, and How Much Will SOL Be Worth?
The real question is, “Should I invest in Solana?” The reality is that any crypto trade you take will have a certain amount of risk. You must ask yourself, “Is Solana a good investment?” That will come down to whether or not you believe that the network problems have been solved and, of course, what your feelings are on crypto to begin with.
Being an investor means you have to look through the long-term Solana price forecast and determine whether or not you are willing to take the time to realize gains. You also must understand that many variables between now and the future could come into the marketplace and, quite frankly, wipe out your investment. You can just as quickly lose money as gain money on these longer-term holdings.
However, there is a shortcut. By trading the CFD or contract for difference market, you can place a position solely based on price movement. You do not have to worry about taking control of tokens, nor do you have to worry about whether or not you can short the token. One of the significant advantages of the CFD market is that if the price were to continue falling, you could also make profits that way. This is what we offer at PrimeXBT, as well as leverage, which is the ability to trade a more prominent position than you usually would have at your disposal. In other words, unless you plan on using the SOL token, it’s simply a more accessible and efficient way to deploy your trading capital.
This price prediction is based on the data collected from various sources. This should not be considered an investing parameter; the user should research before investing. PrimeXBT does not necessarily share the same views as industry experts. The information is only educational and should not be seen as investment advice.
How much will Solana be worth in 2025?
Any long-term Solana Price prediction will be difficult, but most experts believe Solana will continue to attract inflows. Solana price could be above its former all-time high of around $260, or it could possibly set new highs around $1,000.
What will Solana be worth by 2030?
A short-term Solana Price prediction is difficult, so it is almost impossible to understand where it will be in 2030. The consensus is higher, but the rate of climb varies wildly between experts.
What will Solana be worth in 5 years?
The estimated growth in Solana is tough to determine at the moment, as it has had some significant issues over the last two years. Furthermore, there’s a considerable debate as to whether or not some forms of crypto will survive. Simply put, it isn’t easy to see the future, especially as it is very likely that we are witnessing something you can do to the year 1999 and technology stocks. There is a lot that disappeared.
This will come down to adoption, and most crypto has significant issues. Solana has the misfortune of having a very negative trend in Solana Price movements almost from the beginning. Because of this, it’s doubtful that Solana will reach the highest again in the next five years, but it could very well be higher than it is now.
Is it a good time to buy Solana?
Solana growth will be needed to make this the time to buy it. Traders may have to determine whether or not Solana has a future. It was infinitely faster than Ethereum when it first came out, but Ethereum has closed the gap without significant outages.
This massive selloff could be an excellent buying opportunity if Solana remains viable. Still, it should be considered a longer-term investment, as Solana’s price prediction is challenging.
How high can Solana go?
Solana price prediction is almost impossible at the moment. Still, it is worth noting that it has sold off so drastically that if it remains a viable ecosystem, it’s very likely that it will rise quite drastically. Of course, the problem will be a long-term Solana Price prediction that is almost impossible to make with any confidence in the current environment.
Does Solana have a future?
The answer is “probably.” However, one of the most significant advantages of blockchain is that it can become a self-sustaining ecosystem. If Solana continues to have outage issues, then it’s easy to see how the prices will continue going down. Eventually, these outages could have people going to other solutions.
One of Solana’s biggest problems is that Ethereum has switched to proof of stake and has gotten faster and cheaper. This is a real problem for Solana. While it may have a long-term future, the reality is that it may also be highly specialized.
