Solana (SOL) Price Prediction 2022: Will SOL Reach a New All-Time High?

On Wednesday, Solana's price went up to a new high in relation to Ethereum (ETH). SOL is regarded as one of Ether's main rivals in the smart contract space.

Solana (SOL) price hit a new high against Ethereum (ETH) on Wednesday. Being one of Ether’s main competitors in the smart contract space, the SOL/ETH pair reaching a new all-time high is a noteworthy development for SOL traders.

A technical analyst broke down what sets Solana apart from Ethereum and explained the reason behind SOL’s price surge, especially considering that Ethereum is currently trading around $2,600. While Ethereum scaled its ecosystem with Layer 2 and Layer 3 chains, among other scaling solutions, Solana gained more traction due to the introduction of new tokens on the chain and meme coins during the same period.

MetalCore Game to Switch to Solana for Faster Transactions

After launching its first season on Ethereum’s Immutable zkEVM platform, MetalCore faced performance issues largely due to transaction speeds and network latency. These challenges led Studio 369 to seek a faster and more efficient blockchain solution. As a result, SOL’s high-performance infrastructure was deemed a suitable choice to achieve the desired game performance.

According to Studio 369 CEO Matt Candler, SOL’s growing network performance, transaction volume, and stability make it a favorable environment for MetalCore. He highlighted that Solana (SOL) maintains an uptime of 99.95% and billions of dollars in transaction volume, emphasizing the critical role this infrastructure will play in the game’s future.

By switching to SOL, which is known for its high scalability and low transaction fees, MetalCore is facilitating the blockchain’s entry into the gaming industry. This move is likely to inspire other GameFi projects. The transition to Solana (SOL) is expected to take place in November.

Solana Price Prediction

Solana’s native token, SOL, has had a largely bullish outlook since its retest at the $120.40 low on September 2, with only one negative close over the seven-week rally. This price surge has seen the crypto asset rally past key resistance levels of around $163.56, which were last seen on August 8.

Several indicators suggest that the Solana price is set for a surge as multiple technicals hint at a continuation to the upside soon. For instance, the relative strength indicator is pointing upwards, suggesting that short-term optimism towards the coin is rising. Moreover, a prominent X influencer bet $10 million on the Solana price to hit a new all-time high.

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