Source: Rcc_Btn / Shutterstock.com
Among the most frustrating cryptocurrencies in the market has to be Solana (SOL-USD). This ultra-fast and hyper-growth network has seen incredible traction, as users and investors gravitate toward proof-of-stake blockchains with low costs and high transaction speeds. Accordingly, the various expert Solana price predictions we normally look at are bullish.
That said, these price predictions have been coming down of late. Experts are growing more impatient with the development team behind this project. That’s primarily due to a series of network outages that has shaken the confidence of many in this network’s ability to function long-term.
This week, Solana once again saw another outage. This was the network’s second outage in a month, and the latest in a string of outages going back to last year.
While many, myself included, have looked at Solana’s growth relative to Ethereum (ETH-USD) and other smart contract networks as impressive, these outages certainly hamper the outlook for this token. At some point, Solana will need to balance its speed and cost advantage (which is impressive relative to Ethereum) with stability. While Ethereum is expensive, it’s stable. Accordingly, investors may be looking to de-risk their portfolio, given these growing risks with Solana.
With that said, let’s dive into what the experts think of SOL right now.
Solana Price Predictions
For context, SOL-USD currently trades at $37.95 per token, at the time of writing.
- Walletinvestor provides a 1-year and 5-year price forecast of $138.69 and $497.39, respectively, for SOL-USD.
- Similarly, Gov.capital chimes in with a 1-year and 5-year price target of $300.67 and $2,381 as well.
- Finally, Digitalcoinprice projects SOL-USD could average $53.87 in 2023 and $94.04 in 2027.
On the date of publication, Chris MacDonald 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.
Read More:Solana Price Predictions: Where Will the SOL Crypto Go After Continued Outages?