In This Article
Following the approval of spot Bitcoin and spot Ethereum ETFs (exchange-traded funds) this year, many in the crypto space anticipate that a spot ETF based on Solana might be next. In addition to this, the Solana blockchain has been flourishing in recent months. This is mainly due to the rapidly-growing Solana meme coin ecosystem, which has also seen the launch of several celebrity meme coins by Iggy Azalea and other well-known people.
The booming Solana meme coin sector has also led to surges in other notable metrics, including DEX volume, as investors frequently trade the hottest new meme coins to enter the market. As the Solana network gains market traction, the blockchain's native SOL token is likely to follow suit.
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 as 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
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.
| Market Cap | |
| Fully Diluted Valuation | |
| Circulating Supply | |
| Total Supply | |
| Max Supply |
Solana price prediction 2024
Current market sentiment is extremely bearish following a recent selloff that saw Bitcoin (BTC) drop below the key $60K mark. When it comes to SOL, the altcoin has been in a consolidation phase between $115 and $192 in the past couple of months.
This period of sideways trading could just be the precursor to a strong move. In the event that the Solana price breaks out towards the upside, we believe that SOL could rise above $200 in the short to medium term. Thereafter, continue buy pressure could push the Solana price to $235, before the altcoin potential surges to as high as $250.
On the other hand, a breakdown in the Solana price in the coming weeks might lead to the crypto losing the $115 support level. Continued sell pressure should SOL fall to this point, which could then result in the crypto plunging to between $85 and $100.
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 $206 and reach $240 by the end of the year. The bearish scenario would see Solana at $115 and $125.
Solana (SOL) price prediction 2026
Looking ahead to 2026, Coinpaper's price prediction for Solana is neutral. In 2026, we expect Solana to reach at least $275 before climbing higher to $301. In case of a bearish scenario, Solana may fall to $135.
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. 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.
FAQs
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
