In the last seven days, the price of the SOL fell from $24.98 to $20.27.
Solana (SOL) traded within a range (orange) between $20.4 and $26.6, with the midpoint at $23.5 since mid-January. In the last seven days, the price of the SOL fell from $24.98 to $20.27. Additionally, its market capitalization fell from $9.3 billion to $7,607,433,352 in the same period.
Solana has rebounded remarkably from the losses it posted in November and December, especially for a multi-billion-dollar market cap asset. How it can escape the current drop will determine how well it will perform in the days to come.
Solana has raised about $335.8 million in 9 funding rounds, with Alameda Research, Andreessen Horowitz, and Polychain as its main investors.
However, the current year has proven to be highly volatile for all cryptocurrencies so far, and Solana was not spared the worst part either. So far, its maximum price this year has been $136.38, dated April 3. The Solana Blockchain was recently hacked, and thousands of users reported losing their funds worth around $8 million.
In early August 2022, thousands of Solana accounts were emptied. The Solana Foundation, however, told the Financial Times that the exploit “does not appear” to have affected its core infrastructure, but rather was caused by a bug “in the software used by several wallets popular with Solana users.”
Solana Price, Market Cap, and Other Metrics
Messari’s James Trautman recently released a report looking at the state of Solana in Q2 2022. With the volatility prevailing in the metrics in Q1, Solana completely crashed, in line with all other cryptocurrencies in Q2.
Revenues decreased 44.4% due to poor network performance, while average transaction fees decreased 40.6%. In the second quarter, its P/S ratio was 847x. Compared to Q1, its TVL also decreased by around 68%, similar to a ~70% drop in TVL across the top 10 DeFi protocols.
Solana Price Prediction 2025
A Changelly blog post stated that Solana’s top and bottom prices in 2025 will be $213.55 and $174.43, respectively. On average, it will trade at around $179.57 in 2025, he added, and SOL’s potential ROI is anticipated to be 441%.
Finder’s panel of experts also had some predictions to make. According to the panel, SOL can be expected to reach the $166 mark by 2025. It is worth noting here that these predictions were made last month.
Solana Price Prediction 2030
As far as 2030 is concerned, the Finder panel predicted that SOL will reach $512 in 2030. As was the case for 2025, the panel’s January predictions were very different from their July predictions.
It wouldn’t be right to fail to mention that the Solana Network is prone to outages and has been for a while. According to the CEO of Bitwave, “…keeping an eye on Solana, but it is the only Blockchain that regularly has major outages, which is simply not feasible for a fintech.”
In fact, more than 65% of Finder panelists believe Solana’s Network will continue to experience more outages in the future.
By Audy Castaneda
