Solana as we all know is a public blockchain platform that uses a proof of stake mechanism to achieve accurate consensus. Base on our analysis on the top 5 Solana Predictions for 2022, solana is expected to be way better than other years if only there can be more improvements made.
SOL is the internal cryptocurrency of solana and which has been a major talk of the two in mid 2021.
Last year, a journalist at Bloomberg who`s name is Joanna Ossinger made a clear description of this blockchain platform called Solana as “a potential competitor of Ethereum for a long term”, looking at its superior when it comes to transaction speeds and lower associated costs which make a whole lot of sense.
Read: Crypto.com CRO Price Prediction 2022
Base on the Historical index of Solana price, this coin is good for a long term investment. some questions most investors or traders ask is.
- Should I invest in Solana Cryptocurrency?
- Should I buy SOL today?”
with our recent discovery according to some Forecast System this year, Solana (SOL) is an great long-term (1/2-years) investment.
Key points about Solana Price 2022
- this project called Solana is of the possibility of attracting more projects in the future, and also create more total locked value, and will become strongly decentralized.
- With the tremendous growth over some time it is expected that the technical issues of Solana could still prove challenging to the System.
Currently we are experiencing Bitcoin Dip to $41,000 which has been the major talk of the town in January 2022, looking at the Price Prediction of some key Cryptocurrency in the world like Bitcoin, Ethereum, BNB, Solana, Cardano and XRP in the Midst of the Extreme Fear.
In 2021 we experienced a great year for Solana (SOL) with good unexpected growth. With the analysis solana grew over 11,000% and at the same time grew from being a relatively invaluable altcoin to one the best top cryptocurrency by market cap in 2021. looking at how this coin was built, it is said that Solana happens to be one of the fastest and reliable cryptocurrencies on the blockchain network currently with some amazing features like its low transaction fees that has made a superb alternative to Ethereum (ETH) which has made it way to some major cryptocurrency exchanges in the world today.
Ethereum still remains one the most biggest smart-contract in the crypto industry and with the ability hosts and secure some good numbers of applications in the system. The only issue we face on a daily basis is the fact that Ethereum posses some crazy-high fees and also a heavy network congestion most frequently which is driving most developers and investors to look for other alternatives in the Cypto world. Honestly speaking Solana has and is a big beneficiaries of this evolution.
One question everyone would like to ask is : What is the possibilities of Solana sustaining it growth in 2022? without explaining too much we all know that crypto has too much stories of coins that pump high for a short period, and ended up sinking down back on the charts in the following months or week. the reason is because solana is such a fast-changing crypto industry, and also because it is covered with lot speculation that increases the price to an unimaginable heights.
Top 5 Solana Predictions for 2022
- Solana (SOL) Bring more new projects to its Platform
Last year August solana already had over 400 projects tracked on its website. With the recent findings, just few months after, going through the official solana website it is said to have over 1,000 solid projects. In full sense that means we are to expect another growth next year, that is what we need to know is that the more the developers come to this great network. In the are of the investors of solana, it is nice to understand more of at the individual projects that is being developed on Solana network. with all the interesting innovation starting with decentralized the finance applications is to non-fungible tokens (NFTs) and also the Web 3, when you take your time to search for, we have some are some interesting new cryptocurrencies which are currently taking shape. right now, in the system Star Atlas (ATLAS) is one of the top most popular multiplayer metaverse token. - The total locked value of Solana will grow High
What the total locked value simple means is that, the total assets staked on the decentralized finance app network. In recent times the solana’s total locked value has increased tremendously from 1 billion dollars in the month of July to a total of over 11 billion dollars currently, this analysis was gotten from DeFi Llama. Most of the Popular DeFi apps includes Raydium (RAY) and Serum (SRM), they are the most appealing decentralized exchanges to investors that are scared of the Ethereum high gas fees. - Solana would become a decentralized network
for over some years now we have experienced different criticisms of Solana and one of them is that it is too centralized. Base on the key aspect of Bitcoin (BTC) and the Ethereum (ETH) is that behind cryptocurrency in general overlook is that it doesn’t turn it back on the centralized body such as a government or banking institutions.There is a speculation that the Solana Foundation controls too much percentage of solana during circulation. looking at another worry is the fact that there isn’t enough validators in the network. aside from being too technical in this, when you have more validators, the network becomes more decentralized. Base on research Solana is said to have 1,360 validators, compared to Ethereum’s 275,830.Also looking at the high cost of running a validator node on Solana, but the network keeps growing, so will the number of validators too. - Increased Regulation on Solana
the main purpose of regulation is to be able to Increase the regulation impact on anything concerning cryptocurrency industry by next year. during this period, we are to experience some reasonable regulation so as to build the confidence of most investors in the industry. Actually we cant predict the kind of effect regulations may take and some good regulation might have a short-term impact on prices.Looking at the already existing regulations that has been on for a long time now, information being gathered that Solana might be forced to be sanctioned by U.S government because of Its centralized characteristics. This simple means that the Securities and Exchange Commission might want to place it to security.If you observe very well you will understand that this is the reason why the Securities and Exchange Commission is currently pursuing a lawsuit against Ripple (XRP) for some times now. There are certain guideline that needs to be followed and also the security needs to needs to be registered, when we don’t have a proper central party that pushes the enterprise (like Bitcoin), then we dont need to see it as a security. - Massive Competition Expected
Solana had a great show year in 2021 and must investors was so impressed, aside from solana itself we have some great project waiting to compete. We have so many blockchains like Avalanche (AVAX) and Cardano (ADA). there are other flayer 2 solutions which sit good on top of existing networks, such as Polygon (MATIC) and Loopring (LRC).Looking at how solana can continue with the current trajectory, there is every possibility that it will be part of the group. Base on what we have analyse and discovered over the years, a year is a long time in crypto and there ROI is huge depending on how well that particular coin trends.
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- Technical problems. Going through September analysis of solana, Solana was said to have a 17-hour outage which occurred due to “resource exhaustion.” Some other people emphasized it as growing pains, when we check through we observed that there might be more technical issues next year which could cause developers to lose more confidence in the network.
- Security problems. In the past Solana hasn’t been attacked or had any major security breaches, when discussing this when understand that its validator is still new. Solana cannot be compared to Ethereum or Bitcoin when we look at the journey.