Solana Price Prediction 2023-2031: Is SOL a Good Investment? | Cryptopolitan – Cryptocurrency News!
Solana Price Prediction 2023-2031: Is SOL a Good Investment? | Cryptopolitan – Cryptocurrency News!
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Why does Solana Price Prediction catch the attention of investors and users alike? While far more centralized than Ethereum , it 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 .
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.
Solana shared its own plans for next year at its four-day conference, Solana Breakpoint . In a demo in Lisbon, Solana Labs’ co-founders Raj Gokal and Anatoly Yakovenko presented their upcoming “Saga” Web3 smartphone .
The phone’s in-built Solflare crypto wallet can sync to decentralized applications, including those that come from Solana’s free-free app store. Its SIM cards are powered by the Helium Network and T-Mobile’s wireless 5G network.
Solana has become a favorite for crypto investors as the cryptocurrency market grows, with its inflows surpassing $50 million last September. The cryptocurrency has found its way into the top ten digital assets list. The token dethroned Cardano and currently ranks number 5 on the market. Most of the analysts present a bullish Solana price prediction.
With a good potential, it is not farfetched for Solana to reach $5,000, a 10,000% increase in the next eight years. While some might find this increase unrealistic, consider that it rose more than 8,500% by January 2022 to an all-time high of $260. Solana’s sharp price increase in that time shows that anything is possible. Read through this Solana price prediction and find reasons why this might be so.
Today’s Solana price is $13.72 USD with a 24-hour trading volume of $187,321,298. Solana is up 2.30% in the last 24 hours. The current CoinMarketCap ranking is #16, with a live market cap of $5,019,214,505. It has a circulating supply of 365,960,880 SOL coins and the max. supply is not available.
Solana is currently ranked #3 in the Proof-of-Stake Coins sector, ranked #2 in the Solana Network sector, and ranked #7 in the Layer 1 sector.
Let’s now look at what analysts predict for the Solana price in the coming months – and years – and consider whether SOL should be a part of your crypto portfolio.
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Solana blockchain (also commonly referred to as Solana protocol) was introduced to compete with the Ethereum blockchain, which brought the current revolution, especially with its smart contract technology that has to go ahead to enable the inventions of decentralized finance ( DeFi ), Non-Fungible Tokens (NFTs), decentralized applications (DApps), and all the other concepts like yield farming, liquidity mining, staking, etc., that accompany these inventions.
Today Solana is fulfilling its purpose as more and more people continue adopting cryptocurrency. Its native token SOL is now priced at about $218, 43203.94%, up from its initial price at launch.
The blockchain revolution assured investors of digital coins that would offer privacy and confidentiality through the sturdy cryptographic algorithm that ensures that even if transactions are recorded in the public blockchain network, the identity of the sender and the receiver is always hidden behind some addresses.
To that end, Solana is considered one of the most effective, secure, fast, and censor-resistant blockchains worldwide. It offers an open-source infrastructure making it easy for global adoption.
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