A panel of cryptocurrency and fintech experts has revealed that they expect, on average, that the price of Solana ($SOL) will jump to $166 by the end of 2025, up from the $45 they expect the cryptocurrency to trade at by the end of this year.
According to Finder, which conducts a quarterly survey with cryptocurrency industry experts on their thoughts on various cryptoassets, has updated its survey on Solana with a panel of 54 industry experts, which revealed they’re bullish on Solana in the long term.
The report details that, on average, the panel of experts sees SOL trade at $45 by the end of this year and at $166 by the end of 2025, before exploding to $512 by the end of 2030. Solana is, at the time of writing, trading at $41.75, according to CryptoCompare data.
Notably, the panel’s predictions on the cryptocurrency’s performance are down when compared to a similar survey conducted in January of this year, when the panel saw SOL trade at $222 by the end of the year. At the time, the panel predicted Solana would trade at $486 by 2025 and at $1,267 by 2030.
One of the panel’s members is Alex Nagorskii, funds management executive at DigitalX. Nagorskii said that Solana is going to close the year at $80, based on recent upgrades made to the network. He was quoted saying:
Solana have implemented several promising protocol updates which appear to have reduced outages in the short term. It remains to be seen if the stability will persist. Solana has captured significant portions of the NFT market from Ethereum and remains a decent competitor in the L1 race.
Gavin Smith, a general partner at Panxora Hedge Fund, predicted the cryptocurrency would rise to $76 by year-end, noting it is likely going to benefit if “the Ethereum upgrades fail to deliver lower transaction fees.”
On the other hand, Desmond Marshall, MD at Rouge International and Rouge Ventures, sees the price of Solana decline to $26 by the end of this year, as he believes that current crypto markets will keep dropping and “DeFi companies will be gone in no time.”
Out of the surveyed experts, 69% said they expect SOL to keep on having outages in the near future, while 6% said the issues will be fixed. 40% suggested now is a good time to buy SOL, while 31% said it’s better to hold and 29% advised selling.
As CryptoGlboe reported, institutional investors have been betting on multiasset investment products and on products offering exposure to Solana ($SOL) and $XRP, while heavily betting on short Bitcoin ($BTC) products.
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