Solana Price Prediction for 2022
he year 2021 proved to be the most profitable for Solana investors. On January 1st, 2021, the cryptocurrency was worth just around $0.5; however, by the end of the year, Solana had grown by over 40,000 percent and concluded the year priced at over $170.
Indeed, most platforms have identified Solana as one of the finest Cryptocurrency options for 2022.
However, Solana’s initial days in 2022 have been fruitless.
Solana Price Prediction for 2022: January 2022 Performance
On December 31st, 2021 Solana traded at $170, before falling to $150 on January 6th. From January 6th to 17th, Solana traded in a range of $140-$150. However, Solana was unable to maintain its new support and plummeted below $130 on January 17, 2022.
After dipping below $100, Solana tried recovery and breached $110; however, with reports of the Wormhole portal hack, Solana suffered a large sell-off and is currently trading below $100.
In January 2022, Solana underperformed its counterparts, whether it was Ethereum or Cardano. While ADA is down 20% in January, Solana is down 45%.
Price Predictions for Solana in 2022: Analyst Estimates
Coinquora forecasts a favorable price for Solana in 2022. The site forecasts that Solana will surpass its all-time high price of $260.06 in 2021. However, if Solana is unable to secure investor support, SOL might fall to around $68.53.
Daily Forex: According to Daily Forex, if the SOL token’s slump continues, it may fall below the $125 threshold. If SOL/USD encounters larger headwinds, Solana could go below $100 by 2022. In 2022, the speculative price range for SOL/USD is $52 to $275.
According to iTechPost, Solana’s pricing is expected to reach $437 by the end of 2022.
Trading Beasts, on the other hand, forecasts a significantly lower price for SOL in 2022 than the rest of the platforms. According to them, Solana would reach its peak price of $134.21 by the end of 2022.
UpToBrain forecasts the price of Solana in light of the recent rise. The platform feels that Solana (SOL) is a smart investment because it is expected to reach $300 or even higher by the end of 2022.
Solana Price Prediction for 2022: January 2022 News Updates
Recently, hackers were able to perpetrate the largest cryptocurrency hack in history.
The hackers gained access to the Wormhole site, which facilitates bitcoin transfers between the Solana and Ethereum blockchains. The breach is claimed to have resulted in the theft of more than $325 million worth of tokens.
Listing on Coinbase
For the first time, Coinbase has listed Solana-based coins. Coinbase confirmed the listing of Bonfida and Orca on its official Twitter account.
Phantom Solana Wallet
Recently, Paradigm, a cryptocurrency firm based in San Francisco, invested in Solana Wallet Phantom. Paradigm invested $109 million in Phantom, bringing the company’s valuation to $1.2 billion.
Price Predictions for Solana in 2022: Some Facts
Is Solana still a good Investment?
Based on the company’s performance during the last year, Solana can be considered an excellent investment even in 2022. Several reasons to invest in Solana include the following:
- Outstanding performance over the last few months, outperforming Ethereum and Cardano.
2. Outstanding ecosystem centered around Solana applications
3. It performs admirably on a variety of measures, including blockchain speeds.
4. A gas charge that is less than that of Ethereum
Why is Solana a more technically sound investment?
Bank of America has stated in a research note that Solana might become the “Visa of the digital asset ecosystem.”
Solana has seen huge acceptance since its launch in 2020. Solana is the world’s quickest blockchain and the fastest-growing cryptocurrency ecosystem, with over 400 projects spanning DeFi, NFTs, and Web3.
Solana is capable of processing more than 2500 transactions per second and has settled more than 50 billion transactions to date. The scalability of Solana ensures that transactions remain under $0.01 for both developers and users.
In terms of DeFi, the Solana network now hosts approximately 500 dApps and several DeFi initiatives. Additionally, the Solana network has created over 5.7 million non-fungible tokens (NFTs).
How to Purchase Solana?
The following are some general measures to take while purchasing Solana:
Locate a cryptocurrency exchange that trades Solana Coins
Establish a trading account with the Exchange
Confirm your identity via KYC
Fund your wallet and purchase your tokens
You can buy Solana on Binance, FTX and Houbi.
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.