Solana Price Prediction 2023. Should I buy SOL?

How much Solana will be worth in 2023? To find out, dive into our complete SOL price prediction for year 2023 and beyond! SOL price, technical indicators, and exchanges.

This year has been a tough sail for Solana since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of SOL.

With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Solana to reclaim its all-time high in 2023? Continue with the article to learn about Solana price analysis and prediction by Coinpaper.

Read also: What are Ethereum killers? Five protocols that can potentially dethrone Ethereum

What is Solana?

Created in 2017, Solana is a high-speed blockchain with smart contract functionality. The network utilizes a unique consensus model, which is a combination of the proof-of-history (PoH) algorithm with the proof-of-stake (PoS). Such a hybrid structure allows Solana to handle over 710,000 transactions per second without relying on L2 scaling solutions like Ethereum does. However, Solana has a tough sale after FTX implosion, as many speculated about its financial ties with Sam Bankman-Fried’s collapsed crypto empire. Still, Solana remains one of the biggest ecosystems in crypto with low gas fees and burgeoning NFT space.

Solana (SOL) price

Currently, Solana Price is USD. SOL has a circulating supply of coins and a total supply of . If you are looking to buy or sell Solana, Binance is currently the most active exchange.

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Solana price prediction 2023

The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.

According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.

Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.

Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Solana 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Solana price at $47.19 to $58.62. On the flip side, a fading interest in the new meme coin may push the price of Solana to $13.42-$9.83 lows.

Solana price prediction 2024

In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Solana (SOL) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.

Keeping this in mind, we foresee the price of Solana to climb as high as $73.87, with the more distant prospect of reaching $85.28 in 2024. The bearish scenario is likely to see Solana (SOL) trading between $61.09 and $45.63 in 2024.

Solana price prediction 2025

Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Solana (SOL) price analysis and prediction is based on pure speculation and observation of Solana historical price movements.

Our Solana 2025 price forecast expects SOL to rally towards $106.46 and reach $124.11 by the end of the year. The bearish scenario would see Solana at $86.26 to $67.25.

Solana (SOL) price prediction 2026

Looking ahead four years, to 2026, Coinpaper's price prediction for Solana is neutral. In 2026, we expect Solana to reach at least $167.73 before climbing higher to $201.36. In case of a bearish scenario, Solana may fall to $111.93.

Is Solana (SOL) a good investment?

Clearly, Solana suffered more than many others after the demise of FTX, but there are still solid projects within the ecosystem, so if you believe in the future of Solana, it may be the perfect time to buy the dip. However, keep in mind that investing in any cryptocurrency carries a high degree of risk, so make sure to do your own research before investing in SOL.

Bottom line

Are you ready to invest in Solana? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.

You can buy SOL from many crypto exchanges, including Binance

Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.


Who created Solana?

Solana was created by Analoly Yakovenko, a former senior engineer at Qualcomm and Dropbox.

What was the all-time high for Solana (SOL) ?

The all-time high price of Solana is $ on 2021-11-06