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Solana Price Predictions Surge as SOL Becomes the No. 4 Crypto

InvestorPlace - Stock Market News, Stock Advice & Trading Tips SOL's tear through the end of summer and its Breakpoint event are getting investors excited and heating up Solana price...

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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Autumn means event season for the blockchain industry. As the months turn cold, networks are turning on the cameras and live streaming to the masses. The events give each project a platform to stand upon to flex accomplishments and make their biggest announcements of the year, as well as to create a dialogue with investors. Solana (CCC:SOL-USD), which continues its impressive run into this week, is the latest such network to take things to the stage through its Breakpoint conference. The event runs parallel to some hefty seven-day gains and a new flush of capital. As SOL becomes the fourth-largest crypto, investors want to see some Solana price predictions.

Concept art of the Solana (SOL) blockchain.
Source: Shutterstock

SOL prices have been building steady momentum since early summer. These steady gains turned to leaps and bounds in the green around the end of August, thanks to the launch of the Degenerate Ape Academy non-fungible token (NFT) collection on the network. The very fast-selling nature of the entire collection and the tokens’ appreciation in value since then suggest that Solana is a worthy challenger to Ethereum’s (CCC:ETH-USD) market dominance in the NFT industry.

Following in the footsteps of other networks that are holding events and conferences, Solana’s Breakpoint conference is kicking off this week. The time is one of reflection for SOL coin, which has gained nearly 700% since the beginning of August. As the conference kicks off, project leadership is giving a “state of the network” talk to discuss this success. The event also gives the network a platform to talk about the future, addressing planned changes and partnerships, some of which it has already announced this morning.

Solana Price Predictions: What Does the Future Hold for SOL Prices?

This huge event is stoking the flames of SOL bullishness; as such, the network is seeing an injection of capital by investors who don’t want to miss the boat. In fact, the SOL coin is adding enough market capitalization that it is sliding past Cardano (CCC:ADA-USD) and Tether (CCC:USDT-USD) to become the fourth-largest crypto network in the world. As of today, it stands behind only Bitcoin (CCC:BTC-USD), Ethereum and Binance Coin (CCC:BNB-USD) in size.

The news and the festivities are surely invigorating bulls looking for another all-time high this week. Will they be appeased? Let’s look at some Solana price predictions and see where analysts think the coin is heading:

  • CoinPriceForecast is sure SOL will rapidly gain on top of its current $245 price. By the end of 2021, the site expects SOL to reach a whopping $430.
  • DigitalCoin suggests the coin will reach a value of $357 at the end of the year.
  • The Economy Forecast Agency is targeting a price of $360 for SOL by year’s end; by November of 2022, that price target increases to $1,116.
  • WalletInvestor’s November 2022 forecast rests at $682.
  • Over the next 12 months, Gov Capital says the coin will bloom to $524.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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The post Solana Price Predictions Surge as SOL Becomes the No. 4 Crypto appeared first on InvestorPlace.