Solana is the 3rd-largest smart contract blockchain and a hub for meme coin development. It experienced explosive growth since its inception, favored for its high speeds, low cost, and innovative DApps and projects.
With new development underway on Solana and more competition from blockchains like TON Network and Avalanche, what does the future hold for Solana’s native $SOL token? Currently, as of September 12, 2024, Solana (SOL) is trading at $135.26, which is a +2.66% change over the past 24 hours.
Solana is down from its all-time-high of $259.52, set in 2021, but has increased +653.55% over the past 12 months. It has a market cap of $63.25B.
- Solana
(SOL) - Price $134.59
- Market Cap
$62.98 B
Solana Price Prediction: SOL Overview:
| Coin Name | Solana (SOL) |
| Solana Price | $135.26 |
| Solana ATH | $259.52 (November 6, 2021) |
| Solana Price Change 24h | ▲ 2.66% |
| Solana Price Change 7d | ▲ 1.74% |
| Solana Market Cap | $63.25B |
| Circulating Supply | 467.64M |
In our Solana price prediction, we’ll take a closer look at Solana’s prospects and forecast the price of $SOL in 2024-2030. We will also briefly cover what Solana is and some of the reasons why it is one of the most popular cryptocurrencies on the market.
Solana Price Prediction 2024, 2025, 2030
Want a quick look at the future of $SOL? Here’s a summary of the key points from our Solana price prediction for 2024-2030:
- End of 2024 – Solana’s price is likely to continue to trend sideways through the end of the year as meme coin trading tapers off, although a pro-crypto political landscape in the US and easing of interest rates could change this. We predict an average price of $138 at the end of the year.
- End of 2025 – New developments on Solana and bullish conditions in the crypto market could help boost the price of $SOL. We forecast an average Solana price of $231.63, with a potential high of $269.87.
- End of 2030 – We believe Solana will remain an important blockchain for the remainder of the decade, with its best days ahead as institutions adopt SOL and innovations such as Fire Dancer continue to innovate on the Solana blockchain, but there will be stiff competition from the likes of Avalanche and TON Network. We predict a growth to an average price of $1,701.29 in 2030.
| Year | Potential Low (ROI) | Average Price (ROI) | Potential High (ROI) |
|---|---|---|---|
| 2025 | $183.44 (35.63%) | $231.63 (71.25%) | $279.81 (106.88%) |
| 2026 | $241.96 (78.89%) | $379.48 (180.56%) | $547.81 (305.02%) |
| 2027 | $310.20 (129.34%) | $593.89 (339.08%) | $1,012.59 (648.64%) |
| 2028 | $386.31 (185.61%) | $886.42 (555.36%) | $1,762.68 (1,203.21%) |
| 2029 | $467.01 (245.28%) | $1,259.68 (831.32%) | $2,881.84 (2,030.64%) |
| 2030 | $547.71 (304.94%) | $1,701.29 (1,157.82%) | $4,412.00 (3,161.94%) |
| 2031 | $622.72 (360.40%) | $2,179.51 (1,511.38%) | $6,304.90 (4,561.42%) |
| 2032 | $685.88 (407.09%) | $2,643.04 (1,854.09%) | $8,380.65 (6,096.10%) |
| 2033 | $731.30 (440.67%) | $3,027.30 (2,138.19%) | $10,322.32 (7,531.64%) |
| 2034 | $754.22 (457.62%) | $3,267.28 (2,315.61%) | $11,731.67 (8,573.62%) |
Solana Price Prediction 2024
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Last 7d price movement
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has had an extremely volatile—and mostly positive—2024 so far. The token is up 40% since the beginning of the year, although most of those gains occurred in January and February as Solana became a hub for meme coin trading. Since mid-March, the price of $SOL has seen peaks of over $200, but the token has largely returned to support around $137-$145 after each pump.
That sideways movement in $SOL’s price has been accompanied by relative stability in Solana’s total value locked (TVL). The blockchain currently has $5.1 billion in TVL, up only slightly from $4.6 billion in TVL at the end of March. Money is still flowing into Solana, but the blockchain appears to be in a long consolidation phase following its explosive growth last winter.
Moreover, recent gains in $SOL can be attributed to specific, somewhat short-lived catalysts. For example, PayPal’s $PYUSD stablecoin recently launched on Solana and has driven adoption on that chain through incentives. These incentives aren’t meant to be permanent, so the pace of growth in $PYUSD on Solana could taper off sharply once they’re removed.
Solana also got a boost from Robinhood, which added support for $SOL to its crypto wallet. This makes $SOL more accessible for Robinhood users, but the number of Robinhood users who are likely to buy $SOL because of this move is low.
It’s also noteworthy that meme coin trading on Solana has slowed significantly since the spring. The two largest Solana meme coins by market cap, $WIF and $BONK, are down 38.6% and 37.5%, respectively, in the past month of trading. Revenue from Pump.fun, the Solana dApp designed to make meme coin generation easy, is also down to less than $400,000 per day, its lowest level since May.
All of this suggests that Solana is entering a period of consolidation or stagnation, with little major movement in the price of $SOL likely in the near future. We anticipate that $SOL will continue to trade in the $137-$145 range through the end of the year, with an average price of $138 in December.
Solana Price Prediction 2025
We anticipate that Solana’s consolidation phase will give way to more sustained growth in early 2025. The catalyst for this is likely to be explosive growth in the broader crypto market, led by Bitcoin—which analysts believe could skyrocket to $200,000 in 2025.
Solana is likely to benefit from growth in several sectors the blockchain excels at. Increased interest in crypto broadly is likely to cause a surge in meme coin trading, for which Solana remains the preferred hub. This will translate into an increase in traders buying $SOL.
In addition, Solana is likely to grab the lion’s share of new value in DeFi applications, potentially led by the Solayer restaking protocol—which just raised $12 million from Ethereum Layer-2 Polygon.
Solana could also benefit from the SOON Layer-2 solution, which has the potential to help top Solana projects match the speed and cost of transactions on Ethereum Layer-2 networks or up-and-coming blockchains like TON Network.
All of this development and growth will create a bullish environment around Solana. Sentiment may be so bullish that the price of $SOL runs higher, faster, than actual gains in TVL and users suggest, as investors view Solana as a growth opportunity.
Our Solana SOL price prediction for 2025 suggests an expected average trading price of $223.40 by the end of the year—on par with Solana’s peak prices in 2024—and a potential high of up to $269.87.
Solana Price Forecast Long Term Outlook – 2026-2030 Predictions
Our $SOL price prediction for the period from 2026-2030 suggests that the token will continue to grow at a steady pace, but that gains in $SOL may underperform gains in other Layer-1 blockchain tokens. We believe Solana will continue to grow, but the network will increasingly be eclipsed by other blockchains for TVL, user, and developer growth.
The biggest direct competitor we see to Solana is TON Network, a relatively new Layer-1 chain that’s deeply integrated with the Telegram messaging app.
TON Network boasts far faster transaction speeds than Solana, and its Telegram integration means that it has access to a global community of more than 900 million active users. TON Network has also moved into meme coins, with tokens like $REDO and $DOGS taking off in the wave of Telegram founder Pavel Durov’s arrest in France.
In the long run, we expect that Solana will continue to attract developers and TVL will increase, but at a slower pace as things like meme coin trading will move to other networks such as TON. Solana will continue to experience net growth thanks to growth in the overall cryptocurrency market, but the price of $SOL will underperform tokens like $TON and see slower growth as market cap grows, similar to Ethereum.
Our Solana price prediction for 2030 indicates an average price of $1,640 by the end of the decade.
Our Solana Price Prediction Methodology
Our $SOL price forecast is based primarily on fundamental analysis of the Solana blockchain. We considered recent developments on Solana, the blockchain’s growth in users and developers, and the chain’s competitive position relative to other Layer-1 and Layer-2 networks. We also factored in historical data and technical indicators into my Solana price analysis.
Additionally, we considered the impact that broader crypto market conditions are likely to have on Solana. This was especially important for long-term predictions since $SOL could benefit from overall growth in the number of crypto users.
Solana Price History
Solana launched in March 2020 with an initial $SOL price of around $0.9511. The token exploded in price in 2021, in part because of backing from crypto exchange FTX and its CEO, Sam Bankman-Fried. By November 2021, just before FTX collapsed, $SOL reached an all-time high of $260.06.
FTX’s collapse took Solana with it, and the $SOL token fell to a price of $12.25 by November 2022—a loss of more than 95%. However, in November 2023, Solana began to climb again rapidly as meme coins began launching on the blockchain. In December, Solana reached $121, and in March 2024, $SOL hit a high of $202.
Since March, the price of $SOL has gone through a series of peaks and troughs, never trading below $125 or above $187. The overall price trend has been sideways, generally in a range from $137-$145.
At the time of writing, $SOL is priced at $142.65 and has a market capitalization of $66.49 billion. It has fallen slightly behind $BNB in terms of market cap, making Solana the 3rd-largest smart contract blockchain.
What Is Solana?
Solana is a Layer-1 smart contract blockchain that is similar to Ethereum in many ways. It uses a similar proof-of-stake validation mechanism, offers staking rewards for token holders, and has a wide range of dApps for DeFi, crypto gaming, memeing, trading, and more. Solana is faster than Ethereum, supporting around 3,000 transactions per second, although it is slower than many Ethereum Layer-2 networks.
Solana is managed by The Solana Foundation, a nonprofit based in Switzerland. Solana’s native $SOL token is available on all major crypto exchanges as well as from many traditional brokerage firms that offer crypto.
Solana Use Cases
The $SOL crypto token is the native token of the Solana blockchain. It has 3 main uses:
- Transaction payments: All transactions on the Solana blockchain must be paid for in $SOL. As the number of transactions on Solana increases, so too does the demand for $SOL to pay for those transactions.
- Governance: $SOL token holders have the ability to vote on proposals for Solana’s future development.
- Staking: Solana uses a proof-of-stake validation system, which requires validators to stake $SOL. Validators receive a distribution of new $SOL tokens for each transaction they validate. $SOL is often considered to be one of the best crypto staking coins.
What Drives the Price of SOL?
The price of $SOL is impacted by a variety of factors, including some that are specific to the Solana ecosystem and some that drive token prices across the crypto market. Here are some of the most important factors that play a role in $SOL’s price movements:
- User and developer growth: Demand for $SOL is driven by transactions on the Solana network since $SOL is needed to pay for transactions. The more users and developers there are using Solana for dApps, ICOs, and token trading, the greater the demand for $SOL and the more likely the token’s price is to rise.
- Staking rewards: Solana can vary the APY for $SOL staking over time based on the chain’s transaction rate and $SOL demand. Higher APYs are likely to drive more demand for $SOL among crypto investors and push up the token’s price.
- Competition from other blockchains: Solana competes directly with other smart contract blockchains like Ethereum, TON Network, Avalanche, and Binance Smart Chain for users and developers. The growth of these networks can mute demand for $SOL and drive its price down.
- Crypto regulation: Regulatory actions in the US and elsewhere have not focused on Solana, so legal challenges have largely not been an issue for $SOL. However, a changing regulatory landscape is likely to impact the price of $SOL in the future.
- Crypto market conditions: Bullish conditions in the crypto market are likely to benefit Solana since rising prices increase demand for top altcoins and bring more users into the market.
Is Solana a Buy?
Our SOL price predictions indicate a bullish outlook for the $SOL token. It’s likely to trade sideways through the remainder of 2024, and then deliver a 106% gain in 2025. While that may be attractive, we forecast bullish conditions across the crypto market in 2025, so investors may be able to find bigger gains in other tokens.
Over the long term, we expect Solana to continue to grow, but at a slower pace and possibly even lag behind other Layer-1 blockchain coins like $ETH, $TON, and $AVAX. If you are looking to pick up some Solana, we recommend using a safe and reputable exchange such as the ones listed below:
Conclusion
Our Solana price prediction suggests that $SOL has good potential, but is likely to lag behind gains in other crypto tokens which may be higher risk but offer higher reward. We feel Solana is one of the better bets, joining the ranks of Bitcoin and Ethereum in terms of being a “blue-chip” crypto asset. Investors in search of higher returns may want to consider $TON or $AVAX as alternative Layer-1 blockchain coins.
For additional cryptocurrency ideas and alternatives to $SOL, check out our guide to the best cryptocurrencies to buy now.
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References
- Solana Total Value Locked (DefiLlama)
- PayPal’s Stablecoin Hits $1B Market Cap as Incentives Boost Activity on Solana (Yahoo)
- Robinhood Adds Solana (SOL) Support to Its Wallet (Bitget)
- Pump.fun Daily Revenue (DefiLlama)
- Bitcoin will reach $200,000 in 2025, report says (TheStreet)
- Solana Restaking Protocol Solayer Closes $12 Million Round Led by Polygon (Decrypt)
- SOON closes funding round for Solana-based layer 2 (CoinTelegraph)
