Among the best-performing tokens in the crypto world today is Solana (SOL-USD). Up more than 9% over the past 24 hours, Solana has rode the wave of bullish investor sentiment in this space higher. Accordingly, interest around Solana price predictions is starting to pick up.
Indeed, where this token is headed in the near-, medium- and long-term is something many investors are interested in. As far as short-term catalysts and headwinds go, it’s been mostly bearish. A series of network slowdowns tied to bots spamming the network and security concerns have investors worried. Thus, the long-term upside of this highly-scalable network has been called into question.
That said, there are a number of positive catalysts investors are now pricing into SOL. The Solana ecosystem itself is strong. Indeed, Solana has been a leading platform for developers and users in the decentralized finance (DeFi) space. Whether it’s non-fungible tokens (NFTs) or other unique projects, Solana has become a blockchain of choice.
Additionally, recent news around a Web 3.0 smartphone has many investors excited. From a growth angle, this is certainly an interesting catalyst to consider. A phone, focused on making crypto transactions easier, is just what the sector needs for another leg up. For Solana specifically, this could be a key differentiator that changes the game for all blockchain projects.
With that said, let’s dive into where the experts see this token headed from here.
Solana Price Predictions
For context, SOL currently trades for around $40 per token, at the time of writing.
- Walletinvestor provides a 1-year price target of $3.56 for SOL.
- Similarly, Gov.capital forecasts Solana could be worth $271.12 in one year and $2,180 in five years.
- Finally, Digitalcoinprice suggests SOL could average $56.99 in 2023 and $99.47 in 2027.
On the date of publication, Chris MacDonald 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.
