What Will Solana (SOL) Be Worth In 10 Years?
Analysts and forecasters have widely divergent views on Solana’s price performance for the next 10 years. Conservative forecasters expect Solana prices to increase gradually to reach $500. The optimists, on the other hand, predict a rapid price growth for the Solana token and predict that the value of SOL may cross the $6000 level in 10 years.
What will Solana be worth in the next 10 years? Will it usurp Ethereum as the largest and most valuable smart contract blockchain? These are the questions every investor and Bitcoin analyst is asking right now after witnessing Solana’s recent parabolic value appreciation. Having started the year trading at a paltry $1.5, Solana prices are currently up by more than 9,000%, posting one of the highest rates of growth thus far.
Much of this price rally has been a culmination of the growing burgeoning developer pool, seeing that there currently are more than 400 developer projects on the network. There have also been key developments within the network, including Solana Labs seed funding and the launch of Solana Mainnet Beta. Not to mention its 50k transactions per second processing speed.
Nevertheless, the rise hasn't been without notable price swings that expose its volatile underbelly. Between 9th and 10th September 2021, for instance, Solana - which has the 7th largest market cap of $41 billion - shed more than 20% of its value.
Moving forward, you probably want to know if Solana will sustain this uptrend or if it will succumb to the downswings and how much it will be worth in the next 10 years.
We answer this by looking at expert opinions and highlight factors that analysts believe will influence Sol prices in the next decade.
Solana (SOL) Price Prediction For 2030-2031
At the time of writing, Solana is trading at $129.12 on CoinDesk. It has shed close to 10% of its price in the last 24 hours and is down 3% from its price 7 days ago. For the past 30 days, Solana price has been bouncing between $94 and its all-time high of $214.
China's recent emphasis on the ban of all crypto activities in the country has negatively affected the crypto markets and limited possible upward price movement for Solana. Some experts have also attributed the depressed price action to the technical hitches Solana faced in mid-September. On Friday 17th, for instance, transaction throughput on the Solana maxed at 400,000 transactions per second, and this not only took some notes offline but also forced the blockchain to start forking.
Nevertheless, the general feeling is that these glitches and that Solana will soon resume its uptrend. Crypto analysts at Changelly are confident that this will happen in the next few days and predict that Solana will possibly break above its current all-time-high and reach $300 before the end of October this year.
But what does everyone else say about Solana’s future price action? What will Solana be worth in the next 10 years?
Technical analysis by CoinPrice Forecast is hugely bullish on Solana’s future, suggesting that the Ethereum Killer may break above $500 by mid-2022 and $2,000 by the end of 2023. The report also indicates that Solana prices will likely increase by 3600%+ in the next 10 years to reach $5,750 by this time in 2031.
Another technical analysis report by CryptocurrencyPricePrediction has been equally bullish about Solana’s future price action. It indicates that Solana prices will rise steading for the next 10 years and possibly break above $5,200 by December 2030.
Analysts at Changehero.io, a financial news and crypto price prediction blog, are confident that Solana prices will continue uptrending for the next 10 years. However, they predict that such an uptrend will be rather slow and indicate that SOL prices can only rise to hit between $456 and $1,500.
As is the case with most cryptocurrencies, you will notice that there is a characteristically low number of 10-year Solana price predictions. This is based on the fact that many variables affecting the price of different cryptocurrencies and the highly volatile nature of these tokens, most experts avoid making long-term crypto price predictions.
So, what factors do experts believe will influence Solana’s price action over the next decade?
Read Also: Could Solana Be a Millionaire Maker Coin?
Factors That Will Determine The Price Of Solana (SOL) In 10 Years
Launched in April 2020, Solana has gone on to become one of the fastest-growing blockchain networks. It has onboarded more than 400 developers and 1,000+ node validators. Moving forward, it is expected to welcome even more developers to the program through its aggressive developer-onboarding program.
This promises new program builders up to $5 Million in prizes and rewards when they build on the Solana network. Importantly, Solana Labs recently concluded a $314 million private token sale whose proceeds are aimed at rejuvenating its dApp development and Platform building platforms.
Solana has positioned itself as one of Ethereum’s most formidable competitors, and it then is no surprise that their prices are negatively correlated. When Solana crashed on 17th September, for instance, Ethereum prices jumped by more than 4%. We, therefore, can only speculate the impact that the eventual transition to Eth 2.0 later in the year will have on SOL token prices.
In the last 30 days, Solana’s daily trade volumes have been bouncing between $3 and $17 Billion. This is evidence of increased investor interest in the cryptocurrency, especially when you consider that its daily trade volume throughout 2020 hardly went over $20 million.
Moving forward and as Solana prices continue rising, we expect more FOMO-driven investors and traders to rush to get a piece of the Ethereum killer. Our analysis then shows that these enthusiasts will play a key role in fueling the coin’s upward rally for the next few years.
NFT and DeFi revolution
Part of the reason Solana’s popularity has blown in such a short time is its entry into the Ethereum-dominated DeFi and NFT niches. While both niches were birth on the Ethereum network, the high gas fees and slow transaction processing fees are forcing developers to find new homes for their ideas.
Most have shifted base to Solana that promises a more versatile network with incredibly low transaction fees and some of the highest transaction processing speeds. Unlike on the Ethereum network, developers on the platform don’t need shaded chains and layer 2 protocols to enjoy these benefits.
This has helped SOL gain an edge over Ethereum. And as DeFi and NFT niches blossom moving forward, we are more likely to see developers prefer SOL to ETH, which is a major price boost.
Will Solana (SOL) Ever Reach $1000?
There is an overwhelming conviction within the crypto community that Solana token prices will reach $1000 within the next 5 years.
Both the fundamental and technical analysis of the altcoin and the larger crypto industry point to sustained demand for Solana tokens. Industry analysis also points to uptrending Bitcoin and Ethereum prices. Experts then conclude that their huge influence on the rest of the market, coupled with the ongoing developments within the Solana network, may help SOL prices grow five-fold.
Technical analysis by the Gov. Capital concurs with this view and indicates that Solana will most likely break above $1,000 at the tail end of December 2024.
Conclusion: What Will Solana (SOL) be Worth in 10 Years?
Predicting the price action of such a volatile and unpredictable crypto asset as Solana is hard, but the market is convinced that this will keep rising. Examining the fundamental and technical analysis reports by different experts, we conclude that Solana will most likely be way more valuable in the next 10 years than it is right now.
It is highly probable that one SOL token will be selling for $500 to $6,000 by this time in 2031. It then goes without saying that if you invest in Solana today, this investment will likely appreciate by 370% to 4400% in the next 10 years.
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