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WHICH PRICE POTENTIAL DOES SOLANA (SOL) HAVE

 


Solana - A platform for smart contracts

The crypto currency Solana provides a platform whose blockchain was designed for fast transactions for handling dApps. From the beginning, Solana focused on high scalability. Solana currently has a transaction rate of 50,000 transactions per second. This is due to the fact that a new block is generated approximately every 0.4 seconds. In comparison: With Bitcoin, this takes 10 minutes.

Another advantage of the transaction is ascribed to this high scaling. So is the transaction fee with an average of 0.000005 SOL, which corresponds to a current (11/21) equivalent of 0.1 cents.

This makes Solana an attractive platform to develop dApps on. Above all, decentralized exchanges (DEX) would have a pleasant place here. Specific examples of dApps on the Solana blockchain are:

  • Serum: High-speed DEX supporting cross-chain asset swaps
  • Raydium: Serum Market Maker Protocol
  • Oxygen: A DeFi Prime Brokerage Protocol

Numbers, data, facts

Solana was developed and published by Anatoly Yakovenko and Raj Gokal in 2017. Since then, Solana has always been working on expanding its blockchain to make the platform more interesting for dApps.

Solana's blockchain is based on a mixture of two consensus mechanisms. The proof of stake ensures energy-efficient verification of the blocks. In order to be able to guarantee the high scalability, Solana also uses the proof of history. Each transaction is given a time stamp in order to pre-assign the transactions before the blocks are added to the blockchain. In this way, the nodes in the network can create blocks without having to coordinate with the entire network. For this reason, the scaling increases extremely.

Currently (11/21) there are around 510 million SOL in the network. With a price of $ 227, Solana has a market capitalization of $ 69 billion, placing it in 5th place on coinmarketcap .

Solana, like many Altcoins in the last few days, suffered heavy losses, but recovered quickly and hit our green 12H support zone perfectly. At the same time we tested the monthly support

We are currently at USD 215.00 forming a possible  Inverse Head & Shoulders  chart pattern on the 4H chart. It is also bullish that we have confirmed the 200 SMA (last 200 average candles on the 4H chart / purple) as support again.

Now it is important that we can still develop the right shoulder of our chart pattern a little and then, with a significantly increasing trading volume, break through the resistance upwards and rise towards the monthly resistance R1.

Does SOL have a future?

In this Solana forecast, we also go into the opinions of established crypto experts.

Walletinvestor

The experts at Walletinvestor assume that the price at the end of 2021 will be around 230 dollars, similar to the current one. In a forecast, Walletinvestor assumes that the price will rise to 682 dollars in a year.

Coinpriceforecast

According to the analysts at Coinpriceforecast, Solana still has some potential this year. They expect the price to climb to $ 371 by the end of this year. According to Coinpriceforecast, the $ 1,000 mark should be exceeded by next year.

Digitalcoinprice

Digitalcoinprice is similarly positive about Solana. The analysts expect a price of 336 dollars by the end of the year. Only in the annual forecast does Digitalcoinprice find an easily achievable target of around $ 420.

Gov Capital

The experts at Gov Capital assume a price increase of 250 dollars by the end of the year. Afterwards, there should be a strong sale, but it will be quickly bought up again. The rate is expected to rise to $ 640 by the end of 2022.

Will Solana go up?

If one looks at the forecasts of the experts, one can in any case assume an increase in the price of Solana. It's not necessarily clear whether Solana will post profits this year, but analysts agree that the price will do well over the next year.

Solana has enormous potential, but it can also be easily overused. Solana needs continuous growth that builds up step by step. In this way, the developers behind Solana can always adapt to the new circumstances and align the blockchain accordingly. To round off the Solana forecast, one can finally say that Solana has the potential to further expand the course and develop further.

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