Solana (SOL) price prediction 2024

Quick overview

• Solana will be worth $486 by 2025, our expert panel predicts
• Solana will be worth $1,267 by 2030, our expert panel predicts
• 15.1% of UK crypto owners hold Solana
• Solana is the 5th most popular cryptocurrency in the UK

Our panel of 29 fintech specialists believes SOL will be worth $25.75 on average by the end of 2023 before rising to $65.82 by 2025 and $150.52 by 2030.

All prices mentioned in this report are in US dollars.

Solana (SOL) price predictions for 2023, 2025 and 2030

Solana (SOL) is set to end 2023 at $25.75, according to the average prediction by Finder's panel of fintech specialists.

On average, our panellists don't think SOL will revisit its all-time high of approximately $260 before the decade is out. Instead, they see it at $65.82 by 2025 and $150.52 by 2030.

The panellists' predictions for SOL are far less bullish than they were in our October 2022 report when they felt that SOL would hit $116 by 2025 and $236 by 2030.

"Solana has a great ecosystem," says Sathvik Vishwanath, CEO of Unocoin Technologies Private Limited. "The recent crash of the price is only a short-term outcome because of [what happened with] FTX and Alameda Research, who were investors [in] the project. But, technically, Solana is a solid project with a great team and vision behind it. Above all, it has a wonderful community."

Vishwanath is quite bullish on Solana long-term, as he feels we'll see SOL at $200 by 2025 and $450 by 2030.

Mitesh Shah, founder and CEO of Omnia Markets, Inc., is also quite bullish, though not as bullish as Vishwanath. Shah thinks we'll see SOL at $50 by 2025 and $300 by 2030.

"While SOL took a beating at the beginning of June, investors have started to rally behind the coin in recent days," claims Shah, who also pointed out that "on July 30, Solana overtook Ethereum in 24-hour NFT volume for the first time ever experiencing a more than 1,900% increase day-to-day."

He argues that this level of network usage will continue to drive the price of SOL higher.

However, Kadan Stadelmann, chief technical officer (CTO) at Komodo Platform, feels that SOL will be worth $0 by 2030.

"I do not think it's a stable / solid project," says Stadelmann.

Is it time to buy, hold or sell SOL?

Our panel was split in regard to this question.

More than half of our panellists would either pick up some SOL at these prices or hold onto what they already have, as 32% see SOL as a buy, while 26% see it as a hold.

42% think it's time to sell SOL.

Joseph Raczynski, futurist at Joe Technologist Consulting & Media, thinks SOL is a buy.

"Solana is best for low transaction fees, which is very important," says Raczynski.

Shubham Munde, senior research analyst at Market Research Future, also believes it's time to buy SOL.

"Solana has attracted beginner investors and traders and has given good profitability," says Munde. "Many investors looking for ETH alternatives will push Solana prices [higher]."

John Hawkins, senior lecturer in economics at the University of Canberra, doesn't see eye-to-eye with Raczynski and Munde in regard to SOL. He feels it's time to sell SOL.

"[Solana] does not seem to be achieving its goal of being an important part of DeFi," says Hawkins. "[It remains] well behind Ethereum and will be further displaced by CBDCs."

Matt Maley, chief market strategist at Miller Tabak + Co. LLC, and Julian Hosp, CEO of Cake Group & Bake, also believe it's time to sell SOL.

"The declining volumes is a big concern," says Maley, referring to the amount of transactions on the network. "People are losing interest and focusing more on Bitcoin and Ethereum."

Hosp, too, sees the "very little activity" on the Solana network as an issue for the project.

The SEC vs SOL

On 5 June 2023, the US Securities and Exchange Commission (SEC) claimed that SOL is a security in a case it brought against Binance.

Over half of our panellists (52%) feel that this claim will negatively impact the price of SOL.

30% feel it won't and 17% are unsure.

Ruadhan O, founder of Seasonal Tokens, has a nuanced take on the matter.

"Solana has been declared to be a security by the SEC, which has had a major impact on the price," says O. "However, bridging between blockchains can allow users to obtain SOL through decentralised exchanges even if centralised exchanges can't offer it to US residents."

"The classification does not mean that Solana will be unusable in the US, and it may remain an attractive option for token projects and users who seek to avoid Ethereum's high gas fees. Unfortunately, it will reduce Solana's potential for adoption by institutions, and some projects and investors will prefer to use Ethereum, which the SEC has so far been hesitant to classify as a security," he said.

Ben Ritchie, managing director of Digital Capital Management AU, also believes that regulations "pose a higher risk [to SOL] than [to] BTC and ETH."

Finally, Desmond Marshall, MD at Rouge International & Rouge Ventures, feels that "Crypto is getting too political" and that "the US government is waging war on smaller tokens."

Marshall adds that tokens like SOL are "very high risk now."

Meet the panel

Methodology

• Methodology

  Finder surveyed 29 fintech specialists in July 2023. Panellists are able to answer as many or as few questions as they like, meaning the number of responses received varies by question. 15 panellists gave their price predictions for SOL by year-end 2023 and 15 panellists gave long-term predictions for 2025, 13 for 2030. Panellists may own some cryptocurrencies, including SOL. All prices are listed in USD per SOL.

  Changes to methodology: In 2021, this research was conducted using the simple mean of all answers supplied to Finder. From 2022, we switched to using the truncated mean, with the top and bottom 10% of responses removed in order to attain a more consistent result. Any 2021 results quoted in this analysis have also been re-calculated using the truncated mean.