While far more centralized than Ethereum, Solana (SOL) continues to survive major outages and disruptions. There is a place for SOL in various transactions like NFT sales. There’s a general feeling of optimism for SOL to continue to move higher because of institutional backing.
One of the factors that could drive prices higher is a mainstream partnership and project developments with the Solana ecosystem. One instance is the recent Google announcement on supporting the network.
Solana’s price briefly surged to a four-week high of $38.48 on 6 November 2022 after Google Cloud announced it had become a validator on the blockchain.
Google Cloud has been working with Solana to bring Blockchain Node Engine to the Solana chain next year, so it will be easy for anyone to launch a dedicated Solana node in the cloud.
Popular crypto youtube influencer Crypto World states that Solana will reach the $24.53 mark by the end of January 2023. He states that the coin will experience a bull run and hit the high of $38.37 by the end of the year.
Price Prediction Net predicts that Solana will range between $98.14 and $80.63 over the course of five years. Solana is a commodity whose value is subject to extreme swings because of supply and demand.
2023 Solana is expected to reach a minimum price of $18.69, an average of $19.35 and a high of $22.24 in 2023. 2025 Solana is expected to reach a maximum price of $46.32, a minimum of $38.69 and an average of $40.06 in 2025. 2030 Solana could reach a maximum price of $283.48, a minimum of $233.4 and an average of $240.02 in 2030.
Yes. Solana is a good long-term investment. Sol tokens are used as governance tokens for voting, staked for delegation, and to pay for processing fees.
The price of Solana cryptocurrency crashed at the beginning of September 2021 due to a network outage, something that is extremely rare and most likely will never happen again in the future.