Top Solana Price Predictions For 2024
Once trading as high as $260, Solana now trades in the teens. But a spirited community remains, many still seeing a bright future for this Ethereum competitor. Where will the price go next? We’ve gathered Solana (SOL) price predictions from the far reaches of the internet to get a pulse on potential future price movements.
Top SOL Price Predictions For 2024 And Beyond
2022 saw widespread selloffs throughout the entire crypto market, but Solana’s price took a bigger beating compared to other top 20 projects, partly because Alameda Research reportedly held billions in SOL tokens and was actively liquidating its position in the days before bankruptcy. The Solana foundation also held tokens on FTX, with a pre-collapse value of about $190 million, according to reports from Coindesk. Those tokens are still unavailable.
The combination of these factors caused rampant selling for the beleaguered SOL token, making price predictions more difficult compared to other cryptocurrencies, such as Bitcoin or Ethereum.
Below, we discuss several predictions for SOL’s price in 2023 and beyond, later discussing 2022 predictions as well.
1. Cryptoviser: $0 (Eventually)
Let’s get the “it’s going to zero” prediction out of the way. Cryptoviser, a popular podcaster and YouTuber with nearly 60,000 subscribers, seemingly never misses a chance to dunk on Solana during his podcast, calling for SOL to go zero on a near-daily basis. Cryptoviser describes Solana as a blockchain built by and for billionaires (to dump on retail investors). The podcast also reminds listeners of Solana’s frequent network outages.
The last part is fair, while the doom forecast remains to be seen. Markets need bulls and bears.
2. Daniel Cheung: $288
In August of 2021, Daniel Cheung, co-founder of the Pangea Fund Management crypto hedge fund, called for a 4x increase in SOL value to $288. Solana traded at $72 at the time. His price prediction hit impressively close to the mark. Solana traded in the $250 range throughout November 2021, reaching an all-time high of about $260 that month.
Daniel Cheung’s analysis revolved around total value locked (TVL), a measurement of how much value is locked in DeFi, highlighting actual usage rather than theoretical applications. After 2022’s market fallout, his Twitter feed took a decidedly bearish tone regarding near-term prospects while remaining optimistic about future opportunities. But we haven’t seen the $288 SOL price target withdrawn.
3. Sean Benson: $2,000 To $3,000 (2025)
Crypto YouTuber Sean Benson called for SOL’s price to reach as high as $2,000 to $3,000 in the next cycle, explaining to his 200,000 subscribers his reasons for Solana bullishness. The YouTuber based his predictions on a comparison of Ethereum’s fundamentals versus Solana, while also weighing Solana’s growth rate against Bitcoin.
In the same YouTube video, Benson also called for Solana to reach $400 to $600 during the last bull run which ended in 2021. However, Solana peaked at about $260 during the last runup.
4. James Mullarney: $370
The host of the YouTube channel Invest Answers offers a price prediction for Solana based on 10% of Ethereum’s market capitalization, but also used a hypothetical example of $158,000 Bitcoin. The price theory has ETH growing alongside BTC, as it has historically. When the video aired in September of 2022, this dominance-based premise would have brought the future price of Solana to $370.
Top SOL Price Predictions For 2022
Not everyone foresaw the extent of balance-sheet bungling and miscellaneous malfeasance that engulfed the crypto sector throughout 2022. As a result, many of the Solana price predictions for 2022 seem to come from a world that could have been, rather than the one in which we trade today.
1. Nathan Sloan: $510 [Wrong]
With another thesis that weighs the market dominance of Ethereum versus Solana, Nathan Sloan of the popular YouTube channel Investing Made Simple shared a prediction in which Solana could reach $510. Like James Mullarney, discussed earlier, Sloan weighs the dominance of Bitcoin as well but also applies a stock-to-flow model, a technique that uses supply to predict future prices.
This starts the math equation, giving BTC a price of $288,000 in the last cycle. The theoretical model then puts ETH at $23,000 under the same scenario. As the last step, the market cap for ETH is divided by 10, giving SOL a final price per token of $510.
The prediction came with caveats, however, such as the possibility that it might not happen at all. The caveats proved more prophetic than the prediction. In an arguably unpredictable chain of events, including the collapse of FTX and Alameda, Solana crashed hard, ending the year under $20.
2. Toby Cunningham: $809 [Wrong]
Part of the crypto-savvy husband-and-wife pair that runs the YouTube channel Crypto Tips, Toby Cunningham shared his prediction on Solana’s future price. Because Solana’s functionality makes it a competitor to Ethereum, Toby’s self-described “insane prediction” for Solana put the token value at $809 by using a percentage of Ethereum’s market cap to divine a price.
Toby cites Solana’s speed, low fees, and growth as reasons Solana could become a leading alternative to Ethereum. Later in the video, he posits a possible target in the “multiple thousands of dollars”.
While SOL fell well short of that figure in 2022, speculation is part of the game in a young asset class like crypto.
3. Seeking Alpha: $500 [Wrong]
In an article from October when SOL was still flying high, trading at as much as $195, Seeking Alpha made a case for Solana reaching as much as $500+ per token by the end of 2022. The article also details a conservative target of $440.
Like a few other predictions in our lineup, this one again leans on Ethereum’s valuation to build a base case. Using a target ETH price of $10,000 in 2022 and then setting SOL’s market cap to 12% of Ethereum’s market capitalization, you get a value of $440 per SOL token. Stepping up to 14% when comparing SOL’s market cap value relative to $10,000 ETH gives you a (Solana) value of $513.
This may be another case in which unforeseen events, like the FTX crash, change the path ahead, perhaps combined with a bit of top-down “let the good times roll” optimism. It was 2021, after all. At the end of 2022, SOL trades at under $15.
To Sum it Up
Future price predictions are fun, often akin to daydreaming about how you’d spend your lottery winnings if your numbers come out on top. And although often less than accurate when pinned to a specific calendar date, crypto price predictions can serve as a starting point to build your own thesis and compare theories to see which (if any) fit your investment style.
If you’re willing to be flexible on dates and roll the dice on some unknowns, even the most ambitious Solana price predictions might prove right in time.
For SOL investors in it for the long haul, staking Solana offers a way to help weather the market’s ups and downs, earning a yield while you wait.
Frequently Asked Questions
One prediction we found puts the price of Solana at $2,000 to $3,000 in 2025. However, competition, market sentiment, and Solana’s reliability all play roles in future price moves.
Several sites use artificial intelligence or poll experts to predict future prices. For example, AMBCrypto uses an AI bot to determine a year-end 2030 value of $1,622 for SOL. However, the methodology used for the prediction is unclear.
Changelly, a crypto exchange that also provides future price predictions, indicates that Solana will trade at about $109 in five years. The site’s verbiage suggests that they survey (unnamed) industry experts. Our own roundup of industry insider predictions points to higher prices compared to Changelly’s prediction.
Most of the predictions we’ve seen show an expectation of increases in Solana’s price in the coming months and years. However, all investments bring a risk of losses.
Solana has enjoyed wide acceptance in the past, becoming a leading blockchain in a crowded field of competitors. Assuming the network can resolve any lingering reliability issues, the future could still be bright. The total number of GitHub contributors to the largely open-source Solana project continues to grow.
