Solana, the sixth-ranked cryptocurrency by market cap, is predicted to touch $131.74 by the end of May 2022. Currently, it’s trading at $92.93. SOL has been down by 3.49% in the last 24-hours.
The projected price suggests a 40.15% increase in SOL’s existing price. CoinMarketCap has expressed a great deal of confidence in Solana despite the altcoin still having a long way from the all-time highs it saw in 2021. The platform has an average estimated historical accuracy of 67.9% based on estimates from the last six months.
Analysts say Solana has been able to outperform the leading rivals like Cardano and Terra LUNA. It is the third-largest smart contract network with $310 million in real-world transactions. Only Ethereum and Terra are more valuable – $2.46 billion and $506 million, respectively. It should be noted that the real-world number of transactions on different smart contract systems continues to increase. And Ethereum remains the undisputed leader. But other smart contract systems, especially Solana are making inroads. It has also been penetrating into the Ethereum market share. An example is “Okay Bears” which gained over $18.4 million in trading activity on the Solana network. This shows a significant increase in the public interest.
Overall, Solana has astronomically recorded uptrends, attracting the attention of investors, and prompting them to discover the project’s high usability and incredible functionality.