Solana is one of the best performing tokens in the top thirty cryptocurrencies by market capitalization. It is currently the seventh-largest cryptocurrency and its merits are not often debated since ever since its launch the cryptocurrency has more than proven its potential. SOL token is considered to be one of the top competitors of the queen of the market- Ethereum – and it has also garnered a reputation for itself in the NFT segment – which is hands down one of the hottest segments of the crypto market. At the time of writing, the cryptocurrency stands at a price level of $105. The price of the token has surged upwards by 8% during the day – which is one of the highest daily gains in the top thirty tokens.
Recent developments to watch out for
Solana is one of the most active platforms and has a lot of developments going on consistently. This has also played a role in the popularity and the current repute of the token. It has one of the most vibrant ecosystems with a lot of interesting and useful products that are aimed at furthering the adoption of blockchain technology. One of the newer projects launched on the platform is SolanaPay which enables merchants and businesses to make use of blockchain technology for instant transactions.
Moreover, Solana is also a global hackathon, Riptide, which offers more than $5 million a total as seed funding and prizes for projects that are working towards the development of web 3.0. The hackathon will further boost the ecosystem of the platform as more and more high-tech and advanced projects will enter it.
Solana: Price prediction
Given the highly bullish outlook for Solana, some predictions are very optimistic. According to the estimates of Wallet Investor, SOL token is expected to be operating at a price level of $300 in a year’s time while the five-year projection places the cryptocurrency at a staggering price of $1123. However, crossing $1000 is the projection of only one analyst platform only. Digital Coin Price is also bullish on the token but does not predict the price to reach near $1000 any time soon. According to their estimates, SOL token is expected to be operating at a price level of $300 in five years’ time. This does show one thing – the future of Solana is bullish whether or not it crosses $1000, making it one of the best bets in the market.
