What’s going on with Solana (CCC:SOL-USD) today? While the price of the coin has basically remained stagnant the past 24 hours, the SOL crypto is down 40% the past month. As of today, Solana carries a market capitalization of $33.4 billion, making it the seventh-largest cryptocurrency. In addition, Solana trails the sixth-largest crypto, Cardano (CCC:ADA-USD) by roughly $2 billion. However, news concerning the music and arts festival, Coachella, has fans of Solana excited for the future. As a result, Solana price predictions are in focus today.
Coachella is a two-weekend annual music and arts festival that boasts hundreds of thousands of people in attendance each year. In addition, millions of people tune in to the festival via a live stream. Now, Solana is ready to capitalize on the popular festival.
In a partnership with crypto brokerage FTX and Solana, Coachella announced that it would be releasing a series of non-fungible tokens (NFT). The NFTs will provide owners with benefits such as onsite perks and VIP access to the festival. Additionally, Coachella will offer three collections of NFTs at different price points, all of which are built on the Solana blockchain.
What Else Is New With the Solana Crypto?
Furthermore, Solana Labs recently launched Solana Pay. The payment protocol will allow merchants to accept crypto directly from customers. Transactions will be instant, and merchants will receive payment in “real-time.” On top of that, Solana collaborated with companies like Circle and Citcon to better integrate its payment network. Solana’s head of payments, Sheraz Shere, explained:
“If people can seamlessly transact on-chain just like they do with cash, we believe that will spur interest and create new innovations which is why the protocol is designed to allow for developers to build new commerce experiences on top of it.”
With the exciting developments in mind, fans of the SOL crypto are anticipating a great year for Solana. Therefore, let’s take a look at Solana price predictions.
Solana Price Predictions: How High Can SOL Go?
- Wallet Investor has a 2022 price prediction of $279.93. Notably, this would imply an upside of 165% from current prices. In addition, Wallet Investor’s sentiment visual shows that sentiment surrounding the SOL crypto has been extremely bearish the past month. Nonetheless, Wallet Investor’s price prediction indicates that the recent decline is an opportunity to buy the dip.
- CryptoNewsZ has a 2022 price prediction of $250. This price prediction represents an upside of 137%. CryptoNewsZ adds that Solana’s community backing, NFT marketplace and simplicity of use will help the SOL crypto reach new heights in the future.
- Digitalcoin has a 2022 price prediction of $152.78. This prediction implies an upside of 45%. Digitalcoin’s prediction uses a proprietary algorithm that factors in historical data. Additionally, the website’s price prediction visual is currently flashing a “sell” signal.
On the date of publication, Eddie Pan did not hold (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.