Solana Price Prediction

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Contributor, Benzinga
December 1, 2022

Already convinced and don't even need a bullish Solana Price Prediction? You can buy Solana on Uphold, Gemini or Robinhood.

Solana has lost half of its value in the past month. The FTX collapse has had a direct effect on the Solana token and network. The self-proclaimed Ethereum killer is down roughly 95% on the year. Network freezes, centralized validators and now the FTX contagion could be too much for Solana to recover from.

What is Solana?

Solana is a Layer 1 blockchain with smart contract capability. Its governance token, SOL, is traded heavily and is a top 20 cryptocurrency on the market. The Solana blockchain is significantly faster than Ethereum. The Solana network boasts between 2,000 and 3,000 transactions per second. Solana is heavily funded by venture capitalists, which does play against the ethos of crypto. A large portion of coins are held by insiders, and FTX Founder Sam Bankman-Fried holds more Solana than anyone else. With many of the tokens and validators in centralized control, it remains a question if users can rely on the network long-term.

Solana Market Position

With a market cap of over $4 billion, Solana (SOL) is the sixteenth largest cryptocurrency. The coin trades for just under $15, down big from its peak of nearly $250 per coin in 2021. While Solana has many of the same potential DeFi benefits of Ethereum, it does not have the network activity. Developing on Solana requires a much more niche coding language, creating a lot of friction for good decentralized applications to be developed. Developers go to a simpler coding environment with a higher number of users.

Daniel Cheung’s Bullish Long-Term Solana Price Prediction

Cheung is an expert on crypto and is not afraid to share his opinions on Twitter. His call thus far has proved wrong, but there is still time for it to play out. While Cheung acknowledges the centralization problems for Solana, he also alludes to the network speed and earliness of the network. Unlike Ethereum, Solana does not have sharding in its roadmap. The simplified network could be a big player, especially if the future is multi-chained.

Keith Noonan’s Bearish Long-Term Solana Price Prediction

Like most Solana bears, Noonan refers to the centralization of the network. This issue is an obvious one in crypto as it makes a network untrustworthy and gives the project a higher likelihood of outright failing. Noonan also points to the over-dependence upon the non-fungible token (NFT) market for Solana, as few other useful applications are being used.

2023 Solana Price Prediction

According to’s technical analysis, Solana could trade at an average of $21.09. This prediction would require the network to stabilize and a new bull market to take place. If the Fed pivots from a tightening cycle, this prediction could come true.

2024 Solana Price Prediction

Changelly continues in its bullish technical analysis on Solana, with a prediction of $31.55 being the average trading price of Solana in 2024. This situation would require a continued reduction of interest rates, as well as ecosystem growth in Solana.

2025 Solana Price Prediction

For 2025, $44.96 is the average price of Solana in 2025, predicted by Changelly’s technical analysis. This kind of recovery would entail the FTX contagion being less harmful than the SOL bears predict.

2026 Solana Price Prediction

Most technical analyses and predictions of the SOL price point towards long-term bullish. Little consensus exists, so it is important to make your own decisions. calls for a $112.94 price of SOL at minimum in 2026.

2027 Solana Price Prediction calls for a minimum SOL price of $129.22 in 2027. The site says the coin could even touch $143, using technical analysis to make its predictions.

2030 Solana Price Prediction

Finally, by 2030, CryptonewsZ technical analysis calls for Solana to reach a low of $207.47. The site also says a new all-time high of $260 could be reached in 2030.

Where to Buy Solana

Being such a sought-after coin, Solana (SOL) is available on most centralized exchanges, including Gemini, Uphold and Robinhood. In light of the recent FTX disaster, it might be wise to keep your crypto off centralized exchanges for the time being and use a non-custodial wallet. You can then acquire SOL on a decentralized exchange (DEX).

How Long Will It Take for Solana to Reach $30?

SOL was trading near $30 prior to the FTX scandal. Unfortunately, FTX is one of the largest investors in Solana, and these funds will be under the scrutiny of the court of law in deciding where they go next since FTX filed for bankruptcy. The resolution is likely to be a long process. It could be years for SOL to recover, and it will require a lot of hard work for the development team. Solana could emerge from this stronger than ever, but there is perhaps an equal likelihood that the coin trends toward $0.

Where to Store Solana Safely

Many users have a hardware wallet to store their digital assets offline. By keeping funds offline, users are safer from hacks and phishing scams. By using a software wallet for interacting with decentralized applications and transferring acquired funds to a hardware wallet, users are not prone to the centralized risk of failure. The user functions as their own bank.

Best Hardware Wallet: Ledger Nano S

The ledger Nano S is one of the most heavily used hardware wallets. It is a simple design with many instructional videos to help new users navigate the device. It supports more than 1,800 cryptocurrencies such as BTC, ETH, DOGE, XRP, BNB, LINK and all ERC-20 tokens.

Best Software Wallet: ZenGo

ZenGo is a popular software wallet and can be paired with the Ledger Nano S. While it is more work to be responsible for your own funds, it could be worth the risk of trusting a centralized exchange.

Current Crypto Prices

All of 2022 has been painful for crypto holders. The macro-environment has dried up liquidity in the economy. Technology investments, such as crypto, are some of the assets that got hit the hardest. The FTX contagion is also underway and is not just affecting Solana but the entirety of the crypto market. The market is likely to continue to experience pain until the macro environment stabilizes and the FTX contagion works its way through the system.

So, Is Solana a Good Investment?

Today, Solana is one of the riskiest crypto investments. It would certainly be considered a “buy low” scenario, as the price of SOL has taken a massive hit. If you believe strongly in the future of Solana, then now could be the perfect time to buy. However, investors who see too many problems for the blockchain to overcome will stay clear of the beat-down project.