Can Solana reach $10000? Solana continues to have a tough year with poor performance and repeated security issues, but is there a chance of reaching $10,000?
Can Solana reach $10,000?
Solana will have to increase 300 times to reach $10,000. This is quite feasible given what Bitcoin has accomplished in recent years and Ethereum will likely do so in the coming years. Solana has also proven itself with numerous use cases with NFT as a particular focus.
Solana is the second largest blockchain in the NFT space with only Ethereum ahead. In the DeFi space, Solana is in 6th place.
But there are big challenges with Solana
- Solana faces intense competition from ethereum and its Layer-2 Polygon Matic and Immutable X blockchains
- Solana also faces competition in specific segments of Tron, Binance, Avalanche, Cardano and Flow
- In addition, Solana had security challenges throughout the year.
So there are practical difficulties for Solana to go up 300 times given the levels of competition she faces compared to what Bitcoin or Ethereum faced in the beginning. The only way Solana can increase 300-fold is if liquidity in the market once again reaches historic proportions as seen in 2021. Given the détente, which we have been seeing in recent months, central banks are unlikely to experience low interest rates once again.
So, considering all the factors, including the current price, use cases, competition, technical issues, and future liquidity, we think it’s unreasonable to expect Solana to rise to $10,000.
Will Solana reach $500?
However, if you have patience and if Solana can somehow sustain growth for numerous years, here are two scenarios where Solana could reach $10,000.
Can Solana reach $10000? The calculation of market capitalization
If each Solana token became worthy of $10,000, the market cap would be $3.5 trillion. This is more than the GDP of many countries.