Can Solana hit $40 this year?

[Sebas.tian]

I was looking for some coins to buy in the market,and I discovered that Solana price is too low for me to use huge amount of money to buy and hold like the way I have used my salary to purchased Bitcoin last month. Solana price has decreased to $19 few days ago that made me to ask if the price will increase to $40 this year, do you believe Solana investors will experience $40 or more than $40 this year? I have seen many massive moved of other coins price that made me to feel the same with Solana price because am very ready to invest in Solana, if I can get positive answers from this topic.

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[adaseb]

Honestly I would stay away from Solana. There is just too much negative associations with FTX. Plus they frequently get network outages which doesn't bode well for reliability. There is way too many better projects.

I wanted to buy at like $5 or so but it never hit that price. Lowest was like $8 or so on some exchanges. Right now buying it at $20 is too risky. Plus keep in mind that when FTX starts to liquidate there will be massive sell pressure because FTX holds tons and tons of SOL, most of it is still locked.

[Cryptomiles1]

I doubt if is possible though @adaseb have already given you some reason why isn't secured for one to venture into it, price getting to $40 really depends because they have very slim chance. Sometimes I wonder if they are only waiting for bitcoin price surg since most of the altcoin are being driven by bitcoin price.
I would suggest keep increasing your bag with more fractions of bitcoin instead of altcoin.

[blockman]

Why is it it's on this board which is specific for bitcoin speculation?

do you believe Solana investors will experience $40 or more than $40 this year?

That price is far from the ATH and just talking about possibilities, yeah that's possible for this year and it's just a 2x move for it from the current price that it has got. But as adaseb said, if you're investing based on what lies about that project, I'd also do the same. Although I'm not a thorough type of investor for altcoins, it's known to me about its outage issue and that's what I don't like to take on for a project that I'll invest every penny that I've got.

[mich]

Well $40 is double its current price of $20 so it can be possible. For a long time they made us think that this coin was going to be the "ethereum killer".  This was done by doing very good marketing on social media and with influencers talking bout it.

When the 'bear market' started Solana like rest of Crypto market I think the hype behind it started to die down.  I remember when solana was priced at a all time high of $259 per coin last November and to see it now at $20 per coin so many people lost alot.

[hugeblack]

I'd be rich if he got a dollar for every time I see this question
The $40 price represents the maximum value the currency has reached, and it is far from the current prices.
Also, the increase in competition will make it difficult for the currency to return to half of the old prices if an exceptional circumstance occurs, if it does not collapse, so do not build distant hopes like this.

[bussybuddy]

Best regards to those who still have support around SOL, I haven't re-entered the system since SOL in quite a while. Maybe this is still not my priority in this space, looking back after a cycle where it came and fell after the FTX crash. I'm not too impressed with the pump project with big funds, an environment where I see a shark tank and we fall into it will just be all for those who are waiting. But that doesn't mean I don't have faith in SOL it's price increase.

[peter0425]

that would be what we can call a 100 from the value of this coin as i type this post?

https://coinmarketcap.com/currencies/solana/

this is truly a high amount to expect as Solana had been staying this low even last bull market so maybe the chance may happen any time soon specially that 2023 seems to be a good year for altcoins?

[fzkto]

Honestly I would stay away from Solana. There is just too much negative associations with FTX. Plus they frequently get network outages which doesn't bode well for reliability. There is way too many better projects.

I wanted to buy at like $5 or so but it never hit that price. Lowest was like $8 or so on some exchanges. Right now buying it at $20 is too risky. Plus keep in mind that when FTX starts to liquidate there will be massive sell pressure because FTX holds tons and tons of SOL, most of it is still locked.

I don't think you should even think about investing in Solana either. But I also don't exclude that the price could reach $40. SBF has a lot of coins to sell. And in order to sell such a huge volume you need to pump up the price first. Therefore, in terms of quick speculation, there could be a profit to be made here.

[FirmWars]

If care is not taken Solana will end up dead, there are too many times that the project turned off itself, and the team failed to fix this issue perfectly, now FTX is a big bag holder of Solana too, we still don't know how this will end or play out, no, Solana won't find a nest in my crypto bag, I will rather go for Metis or other layer 2 projects.

[super bako]

there are still great new altcoins to research like arbitrum. I have never had high hopes again for the Solana coin that has taken away my 700$. too risky to go back, even though the solana ecosystem is recovering due to the impact of several solana projects and large communities, cheers if solana hits 40$

[$crypto$]

Solana is still too bad for me and I no longer want to invest in it plus some of the issues associated with FTX which was an exchange crash the year before so reconsider choosing Solana because to reach $40 this year is still a bit of a chance.

I agree with what @adaseb said Solana often experiences disruptions on its network causing a lot of panic and also a pretty severe decline, so I think with other alternatives choose some altcoins that are better than Solana.

[n0ne]

The SOL potential is not much higher than other alternative altcoins, you better look for gem altcoins with higher ROI. Regarding price speculation, the $40 mark is possible during the bull market season but associated risks are more than alternative cryptos. The competition may lead to decreased market value for SOL but we never know what is next in this volatile industry.

It all depends on the market. Right now the market have turned bullish, following the bitcoin move the price might reach $40 based on the price of bitcoin. However from the price range of $20 to $40 it takes time. On the other side more accusations against solana is the reason why the market isn't that good. If not this could've been at its best competence against the leading altcoins. Even now it is at good position, but more investors left solana and began to invest on other altcoins.

[bitkanu]

I was optimistic in regard of solana but after arbitrum, optimism and much more L2 to be appear, i honestly become pessimistic maybe it's just better switching over investing in these newer project instead.
they just got the potential of scoring higher value and is still at early stage, but maybe solana could still go up in the future.

[southerngentuk]

I was optimistic in regard of solana but after arbitrum, optimism and much more L2 to be appear, i honestly become pessimistic maybe it's just better switching over investing in these newer project instead.
they just got the potential of scoring higher value and is still at early stage, but maybe solana could still go up in the future.

The transition from one ecosystem to another is inevitable, especially the popularity of L2 Arbitrum today. However, the expectation of Sol reaching $40 in 2023 is not too difficult, I think that price will approach when BTC appreciates to $30,000 -$40000.
The excitement is slowly returning, and congrats to everyone who will receive ARB, hope you guys don't waste those funds on dev teams

[bitterguy28]

Honestly I would stay away from Solana. There is just too much negative associations with FTX. Plus they frequently get network outages which doesn't bode well for reliability. There is way too many better projects.

Indeed what is behind this project, and knowing how FTX fails then it will take down Solana as well , so why need to risk in this one when there are many altcoins or even Bitcoin that we can put our money in more safer manner .
now unless this will be pricing cheapest like a dollar then why not buy to keep holding.

[Sebas.tian]

that would be what we can call a 100 from the value of this coin as i type this post?

https://coinmarketcap.com/currencies/solana/

this is truly a high amount to expect as Solana had been staying this low even last bull market so maybe the chance may happen any time soon specially that 2023 seems to be a good year for altcoins?

Yes, because since the price of Bitcoin has increased to $26,632 other altcoins price has increased higher too that is giving other investors to make Solana their second choice since the price has increased from $20 to $22 few days ago in the market. I think, this year will not be like last year to Solana investors because Solana team will do what will make the price of Solana to increase in a way both long term and short term investors will believe that the price will hit $40 before the end of December 2023.
Based on the feedback I got from people in this topic, make me to change my mind not to invest all my capital in Solana in case the price change negatively in the market I will not feel bad about it.

[GreatArkansas]

Honestly I would stay away from Solana. There is just too much negative associations with FTX. Plus they frequently get network outages which doesn't bode well for reliability. There is way too many better projects.
(...)

After what happened to FTX Exchange, that's the time I left the Solana network and moved to other networks, it's just sad because Solana is the best especially if you are into DeFi and the small person who does small transactions because the fees are extremely cheap compared to these new layer 2 networks that are EVM based.
Now the TVL of the Solana network is being overtaken by these layer 2 networks. I believe Solana for sure will fix these issues, especially the outages and I believe in the future Solana will be back just like before.

[Ketesnuko]

I think the right question is, can solana reach its old all time high number again, the project is going to be challenged by a few new layer 1 and layer 2 projects that are coming out this year, they are pretty up in numbers, for example, starknet and quai network, there is also Sei too, Solana might end up losing its rank to new projects soon, for good ROI I don't think that Solana is a good choice anymore.

[SUPERSAIAN]

I don't think it's too risky to stay away as it's very correlated with FTX. But even if there is an FTX connection, the CEO of this exchange did not go to jail for months, did not receive a penalty, they officially protected him. That's why there may be a chance that something will be funded again, but I think this probability is one in a thousand.

Imo should be avoided. There are coins that are very solid, at least not drilled, I think you should evaluate them more.