Solana (CCC:LEFT-USD) is in the spotlight once again after a reputable bank was recently added to its list of supporters. this bank American bank (New York Stock Exchange:buck), who stated that the Solana blockchain could become Visa (New York Stock Exchange:Fifth) for the digital asset ecosystem. according to CoinMarketCapThe cryptocurrency SOL is currently the 5th largest cryptocurrency based on a market capitalization of $47 billion. However, Solana has lost more than 10% of its value since the start of 2022, which makes Solana’s price predictions interesting.
Alkesh Shah, a crypto analyst at Bank of America, sees the huge potential of this blockchain. Shah explains that Solana prioritizes scalability, low transaction fees, and ease of use. at the same time, Ethereum (CCC:ETH-USD) gives priority to decentralization and security. Although the analyst notes that Solana has faced “many network performance issues from the start,” he still believes that Solana has the potential to gain market share from ETH. Shah argues that this can be achieved by distinguishing SOL from itself through “user adoption and developer interest”. Ethereum has a market capitalization of $402 billion, which is more than eight times that of Solana.
Since its launch in 2020, Solana has successfully “settled more than 50 billion transactions,” representing more than $11 billion in total locked value and more than 5.7 million non-fungible tokens (NFTs). For comparison, Visa processed 164.7 billion transactions in the first three quarters of 2021. There is no denying that Solana has a long way to go before it can compete with Visa. However, investing in a company at an early stage can reward investors significantly.
So, with Bank of America on the Solana train, let’s take a look at how other experts view SOL cryptography.
Solana price forecast
- portfolio investor He has a 2022 price prediction of $436. Impressively, this could be up to 187% over current prices. portfolio investor The sentiment picture indicates that the sentiment surrounding SOL crypto has been very bearish over the past 30 days.
- FX Empire He has a 2022 price prediction of $350. That is a 130% increase. Dr. Arnout Ter Schure used the Elliott Wave Principle (EWP) to explain the target price. Ter Schure believes that SOL is currently in the fourth wave, which should result in a bottom near $100 to $130. Upon completion of the fourth wave, the fifth wave has the potential to send Solana to $350 or higher.
- crypto news He has a 2022 price prediction of $250. This forecast represents an uptrend of about 65%. Like FX EmpireAnd crypto news It is also believed that SOL cryptography is in its fourth wave based on the Elliott Wave principle. The website expects SOL to bottom out between $109 and $123 before rebounding. The site believes that ongoing partnerships and collaboration will help Solana achieve its price target.
At the date of publication, Eddie Ban has not (directly or indirectly) held any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com’s posting guidelines.