Solana (SOL) price prediction 2024

Quick overview

• Solana will be worth $407 by 2025, our expert panel predicts
• Solana will be worth $848 by 2030, our expert panel predicts
• 15% of UK crypto owners hold Solana
• Solana is the 5th most popular cryptocurrency in the UK

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Our panel of 31 fintech specialists believes SOL will be worth $284 on average by the end of 2024 before rising to $407 by 2025 and $848 by 2030.

All prices mentioned in this report are in US dollars.

Solana (SOL) price predictions for 2024, 2025 and 2030

Solana (SOL) is set to end 2024 at $284, according to the average prediction by Finder's panel of fintech specialists.

On average, our panellists think SOL will blast past its all-time high of approximately $260 before the year is out, before continuing its ascendence to $407 by 2025 and $848 by 2030.

Sathvik Vishwanath, founder of Unocoin Technologies, is fairly bullish on SOL's 2024 prospects based on its fundamentals:

"Solana's price predictions are based on its strong fundamentals, including its growing ecosystem and developer activity. With increasing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs), Solana is well-positioned for continued growth in the coming years."

Gracy Chen, the managing director of Bitget, also cites SOL's ecosystem as part of the reason she is so bullish about SOL's potential.

"Solana ecosystem projects are gaining momentum, and coupled with the potential of Solana's meme token has become the focus of market attention in Mar 2024. Both whales and retail investors must purchase SOL to participate in the hyped memes on Solana. Therefore, driven the increase in SOL price and further boosts the value of on-chain assets."

While Dimitrios Salampasis, senior lecturer of emerging technologies and FinTech at Swinburne University of Technology, provides one of the lowest predictions for SOL in 2024, he's not out on the project:

"Solana is a notable competitor in the DeFi and DApps space. The price and value of Solana will be determined by its potential increased adoption, technological developments within the network and competition with other networks. Solana must find its niche to ensure positive market sentiment."

Is it time to buy, hold or sell SOL?

Our panel is fairly bullish on SOL.

More than half (60%) of our panellists say that now is the time to buy SOL, with a little over a quarter (28%) saying you should hold onto what you've got.

Just 12% think it's time to sell SOL.

Andy LaPointe, crypto product manager of CryptoWisdom.com, thinks SOL is a buy but has hurdles for mass adoption.

"Solana offers a very robust platform, is cost-effective and speedy. However, no matter how good the technology is for Solana, it still needs regulatory approval to leap to mass adoption."

Kadan Stadelmann, CTO for Komodo Platform, also believes it's time to buy SOL.

"Although Solana has had its fair share of challenges due to its numerous outages, its growth as a blockchain protocol and dApp ecosystem is undeniable. One crucial stat is that the network experienced 10x developer growth between 2020 and 2023."

Henry Robinson, president and cofounder of Decimal Digital Currency, feels it's time to sell SOL.

"DeFi is the primary value offering of layer 1 protocols, Solana needs continued market share growth in these markets to maintain its high value per token."

What drove Solana's growth in Q1 2024?

Solana has been off to a great start in 2024, with the average price of SOL in Q1 trading significantly higher than in Q4 of 2023. The largest segment of the panel (43%) chalk SOL's success up to its robust developer community, while 21% say DApps and the rise of airdrops within the Solana ecosystem have been moving the needle.

Meet the experts

Methodology

• Methodology

  Finder surveyed 31 fintech specialists in April 2024. Panellists can answer as many or as few questions as they like, meaning the number of responses received varies by question. 25 panellists gave their price prediction for SOL by year-end 2024, 2025 and 2030. Panellists may own some cryptocurrencies, including SOL. All prices are listed in USD per SOL.

  Changes to methodology: In 2021, this research was conducted using the simple mean of all answers supplied to Finder. From 2022, we switched to using the truncated mean, with the top and bottom 10% of responses removed to attain a more consistent result. Any 2021 results quoted in this analysis have also been re-calculated using the truncated mean.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.