Can Solana (SOL) reach $100 by the end of August? What level do the crypto community’s SOL estimates point to. Continue reading us for details…
A utopian prediction for Solana!
After a tough week for the cryptocurrency industry, things are starting to improve again for most of its holdings. Crypto investors and traders are wondering where the Solana (SOL) price will head in the near future. The community at CoinMarketCap has made exceptional bullish predictions that the SOL token will actually be trading at an average price of $250 by August 31, 2022. Users of the website voted using the ‘Price Estimate’ option. In this way, they reported their predictions of what the price of the digital asset will be in the future.
With this estimate, community votes estimate the price of the decentralized finance (DeFi) asset to be $250 by the end of August. This price represents a 530.06% increase from the current value of the altcoin. By press time, 3,015 community members used the opportunity to cast their prediction votes to arrive at the following prediction.
Community trust restored
One of the reasons for the bullish forecasts is the renewed trust in the network after opening a physical store in New York. It may be that he refers to it as ‘the world’s first individual and educational space dedicated to Web3’. Moreover cryptocoin.com In late June, Solana also announced the introduction of Saga, an Android Web3-focused smartphone. But historically launching a crypto- or Web3-based phone doesn’t necessarily guarantee its commercial success.
In terms of price projections for the end of September, the community expects SOL to trade lower than in August, with a median price of $75 based on the 900 votes cast so far. This represents a more modest improvement from the current price of 89.02%, or $35.32. By the end of the year, 54 crypto and Web3 industry fintech experts have agreed long-term price predictions, showing Solana closing 2022 with a price of just $45. This is 82% lower than the crypto community expected at the end of August.
Solana price forecasts for 2022, 2025 and 2030 / Source: FinderAccording to experts, the community’s estimates of $250 for the end of August are remote. However, the all-time high that Solana reached in November 2022 was $260. That’s why experts still consider it a reasonable level.
Solana price analysis
Since the start of the year, Solana has lost $133.32, or 77.06%, in its price. It fell from $173 on Jan 1 to the current $41.89. At press time, the price is down 0.23% over the previous seven days. However, it still continues the day with an increase of 12.38%.
Solana 7-day price chart / Source: CoinMarketCapAlso, according to CoinMarketCap data, Solana is the ninth largest cryptocurrency. Also, the entire market cap of SOL is currently $14.4 billion.
