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Crypto Prices
Can the Price of Solana (SOL) Skyrocket as High as $500 Per Token?
Solana’s native cryptocurrency could one day peak well above its last all-time high. But only if these 3 things happen.
Solana is one of my favorite blockchains. Although it’s a blockchain in every sense of the word, it’s not entirely decentralized.
But the young blockchain — an infant in the fast-moving crypto industry — offers significant benefits to users through its semi-centralized network. This allows Solana’s core developers to continually innovate at a rapid speed in the blockchain space.
And because of these innovations, where its core developers have embraced a solid customer-first mindset, have led some people to predict that Solana’s native token (SOL) could actually soar to $500 in the future.
Earlier this year, the team launched Solana Pay, a peer-to-peer payment service that makes it super easy to pay with crypto (i.e., SOL) at brick-and-mortar merchants.
But that’s not all.
The team recently announced a Solana-integrated mobile phone called Saga, where users can tap into web3 apps seamlessly and also manage their NFTs and tokens on the go.
“This is the next chapter of this narrative and we believe opening up crypto to mobile will lead to greater adoption, better understanding, and more opportunities,” Raj Gokal, Solana co-founder, notes.
Add on top of this, the company behind this semi-centralized blockchain, Solana Labs Inc., has raised over $335 million from venture capital firms in Silicon Valley. a16z (Andreessen Horowitz) is Solana’s biggest backer to date.
But even with all these positives, does Solana (SOL) have enough juice to boost itself from the lows of $29–40 per token to $500 or higher?
In this article, I’ll share my thoughts on whether Solana can reach $500 per token. And what it takes to get there.
