Since this week began, we’ve seen cryptocurrency investing fundamentally transformed through the launch of ProShares Bitcoin Strategy ETF (NYSE:BITO), the first of its kind. Wall Street finally has a way to cash in on the Bitcoin boom while bypassing the volatility that has caused previous investors to shy away from it. Other Bitcoin (CCC:BTC-USD) ETFs (exchange-traded funds) are already in the works and will likely be trading soon. This development has proven highly beneficial for crypto markets. Not only did Bitcoin hit its all-time highest price today at $66,000 but other major cryptos such as Ethereum (CCC:ETH-USD) and Binance Coin (CCC:BNB-USD) have been in the green all day. What does this mean for other names in the crypto space? For Solana (CCC:SOL-USD), it’s mostly good news. Let’s take a look at some Solana price predictions.
Public blockchain platform Solana is also in the green today, up almost 12% for the day and 20% for the week. Despite some turbulence, it’s currently up more than 14% for the month and has climbed more than 9,000% for the year — a good representation of the power of 2021’s crypto boom. Here’s what experts are saying about the future for Solana price predictions.
Solana Price Predictions: What to Expect
According to Coin Price Forecast, Solana will reach $500 by the end of 2021 and then double that figure before the end of 2022. It doesn’t stop there, though. The venue’s experts expect the coin to reach a price of $2,000 before 2023 is over, demonstrating some truly impressive gains.
True to its name, PricePrediction predicts the price of Solana will rise steadily throughout 2022, beginning with an average price of $177.15 and hitting $217.83 by summer’s end. It expects the coin to close out the year with an average price of $252.38 but notes that it could go as high as $279.66.
LongForecast anticipates that Solana will close out 2021 at $188 but three months later, will have risen as high as $245. It predicts that the coin could be at $478 by the end of 2022 and could rise as high as $608 by the end of July 2023, though it foresees some declines after that. It predicts that Solana will be at $462 by the end of 2023.
WalletInvestor’s Solana price prediction centers around the specifics of what an investment in the coin can do for investors. It notes that a $100 dollar investment in Solana today could net a total of 0.575 SOL. Based on the platform’s forecast, a “a long-term increase is expected,” with the price prognosis for Oct. 17, 2026 reaching $1350.47. The revenue for a five-year investment could see an increase of 676.67%. The same investment of $100 could reach $776.67 by 2026.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.