Will Solana go back up?

The better buy However, Solana is faster, cheaper, and more developed . Its ecosystem of dApps and DeFi products easily eclipses that of Cardano, and it’s better positioned to gain ground on Ethereum in the near term.

Developers are working on more than 5,000 projects on the network. But many aren’t yet ready for use. Solana still lags behind Ethereum when it comes to dApps . But its growth from only 70 projects on the network in early 2021 shows us it has the potential to catch up and even surpass its rival.

DigitalCoin’s Solana crypto price prediction was less bullish, estimating that the coin could remain well below the $1,000 level during its seven-year forecast period. Its predictions were that SOL could average $116 in 2022, reaching an average of $169 in 2025 and $404 in 2030 .

Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps) . Native to Solana’s blockchain is the SOL token which provides network security through staking as well as a means of transferring value.