Solana Coin price prediction : 2022

 In June, Solana was trading at $258.59 according to CoinMarketCap - but at the time of writing, its value now stands at $98.40.

Its value is down by 6.37% over the past 24 hours.
It comes after $325million hack on Wormhole, which works as a bridge between the Solana and Ethereum blockchains.
The cryptocurrency market at large also suffered in the second half of last year, hit by market forces and crackdowns by authorities.

SOLANA PREDICTION 2022

Cryptocurrencies are extremely volatile, meaning their prices can soar or tumble very quickly.

This makes it impossible to accurately predict whether they will rise or fall in the future.

That hasn't stopped crypto fans from trying to forecast Solana's fortunes.

Solana's price could hit $107.12 by the year's end, according to a prediction by website Coin Price Forecast.
Meanwhile, Wallet Investor has estimated it could hit at least $298.186 in a year.
According to Finder's panel of 50 fintech specialists, the price of Solana could hit $1,178 by the end of 2025 and then surge to $5,057 in 2030.

What could affect Solana's price?

Cryptocurrency values can rise and fall based on regulatory decisions by governments and financial watchdogs.

Comments by high profile individuals, such as Elon Musk, can also impact prices.

Although it fell since August last year, Solana was on the rise following a "milestone scalability test" in October.
It hosted the "Degenerate Ape Academy", a collection of digital artworks (NFT) on Solanart, a marketplace on the Solana network.

Myron Jobson, personal finance campaigner at Interactive Investor, say: “The collection of 10,000 artworks reported sold out in under 10 minutes. Each piece was ‘minted’ using the SOL token."

He added that "there’s a sentiment among crypto evangelist that Solana has strengthened its status as credible challenger to Ethereum as the blockchain of choice for building decentralized applications".

Solana's creators have claimed it can process more than 50,000 transactions per second.
Mr Jobson said: “However, Solana is pitted against Ethereum which has had a head start when it comes cash injection and time to develop decentralized finance projects.

"In addition, efficiency of Ethereum is expected to improve with upgrades over the long term such as the most recent Ethereum London Hard Fork upgrade.
"Whether Solana can overcome Ethereum’s first mover advantage remains to be seen.

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