The cryptocurrency market is back in the green zone again and so is one of its major digital assets – Solana (SOL), which has led some of the industry’s top fintech specialists to state their opinions on where they see the price of the ninth-largest token by market capitalization in the future.
The consensus of 54 crypto and Web3 industry fintech experts has predicted that Solana would close the year 2022 at the price of $45, according to the results of the latest Finder price predictions report first published on July 19.
Looking further into the future, the panel has stated the opinion that Solana would be worth around $166 by the end of 2025, after which it would increase to as far as $512 by the end of the year 2030.
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Before the market crash in January, experts at Finder were more bullish, predicting that SOL would finish 2022 at $222, which was higher than their current prognosis for the coin’s projected worth by the end of 2025.
Moreover, they are now more bearish on their 2025 and 2030 predictions than they were in January, at which time their forecasts for those periods stood at $486 and $1,267, respectively.
Purchase, dump, or ‘hodl’?
Taking into account the recent crypto market crash, the pending investigation against Solana, the recurrent blockchain power outages, and the company’s announced introduction of Saga, an Android Web-focused smartphone, the panel’s opinions are divided on whether or not this is the right moment to buy Solana tokens.
Specifically, 40% of panelists have stated that now was the time to purchase SOL, while 29% of them believe the time has come to sell it. Another 31% believe that crypto traders and investors should just ‘hodl’ for the time being.
Bulls versus bears among experts
Among the more bullish experts, with his predictions that SOL would trade at $80 at the end of 2022, is Alex Nagorskii, the fund’s management executive at DigitalX, who believes that the recent upgrades to the network will have a positive impact on the price of Solana. As he explained:
“Solana has implemented several promising protocol updates, which appear to have reduced outages in the short term. It remains to be seen if the stability will persist. Solana has captured significant portions of the NFT market from Ethereum and remains a decent competitor in the L1 race.”
On the other hand, Desmond Marshall, the MD at Rouge International and Rouge Ventures, is among the more bearish crows in terms of the end-of-year predictions, expecting a mere $26 for Solana at the end of 2022.
In his opinion:
“DeFi is in deep trouble now, SOL is grasping this area, hoping to be the defacto chain. They’ve been talking about this for years, with nothing really significant happening to strengthen the traction. And with the current dropping markets, DeFi companies will be gone in no time.”
As things stand, Solana is currently trading at $42.98, which is a 2.61% improvement on the day and a 13.53% gain across the previous seven days, according to CoinMarketCap data. If the experts are right, this means its price could grow by about 4.65% by the end of the year.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
