Solana ‘Bull Case’ Forecasts $6,636 Price Target By 2030, Crypto Firm Says
the latest one Report Crypto index fund manager Bitwise has outlined different price predictions based on Solana (SOL) adoption and scalability improvements. According to the report, under a “bull market” scenario, the price of SOL could surge to $6,636 by 2030.
What makes Solana special?
Currently the sixth-largest cryptocurrency by market capitalization, Solana has experienced a few years of volatility. The digital asset was severely affected by the FTX crash, plummeting from an all-time high (ATH) in November 2021 to a low of $9 in November 2022.
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However, despite the bear market triggered by the FTX collapse, SOL has staged an impressive recovery, accomplish In November 2024, the new ATH reaches $263. Bitwise’s report shows that SOL’s growth potential remains huge in the coming years.
The report identifies three core pillars supporting Solana’s investment case: sustainable economics, developer attractiveness and consistent execution. It highlights Solana’s excellence Excellent performance Price growth in 2024 compared to other major smart contract platforms.
Solana has been reported as “blockchain’s iPhone moment,” with standout features including the ability to process 65,000 transactions per second (TPS) and low transaction costs. This high throughput makes it an ideal platform for building decentralized, high-volume, low-latency applications such as decentralized exchanges (DEX).
The chart below shows that Solana’s TPS is comparable to Visa and far exceeds competing smart contract platforms such as BNB Chain and Ethereum. Additionally, Solana’s daily active addresses (DAA) grew parabolically in 2024, surpassing the DAA of Bitcoin (BTC) and Ethereum (ETH) combined, show Increasing adoption.
In terms of token economics, the report states that 80.7% of the total supply of SOL is currently in circulation, with the remaining 19.3% classified as non-circulating supply. Although concerns about potential token inflation persist, Solana’s inflation rate has declined year over year and is expected to fall to 1.85% by 2030.
SOL Bull Market Case
This report applies Metcalfe’s Law to estimate Solana’s network value. For those unfamiliar, Metcalfe’s Law states that the utility of a network increases proportionally to the square of its user base. The report states:
For the sake of simplicity, let’s assume that Daily Active Addresses (DAA) are the number of users and market cap, representing the utility of the network in monetary terms.
Therefore, this report shares the bear case, base case, and bull case for Solana. SOL’s bear case forecast projects cumulative annual growth of 35.1% and a price target of $2,318 by 2030.
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Likewise, the base case assumes a CAGR of 47.2% and a price of $4,025 by 2030. In contrast, SOL’s bull case scenario projects a CAGR of $6,636 by 2030, a CAGR of 59.1%.
The report adds that the above forecasts take into account the natural slowdown that occurs as networks mature and reach significant scale. At press time, SOL was trading at $214.86, up 8% in the past 24 hours.
Featured images from Unsplash, charts from Bitwise and TradingView.com
