Solana Price Prediction 2023-2030: SOL Eyes $330 as Bitwise Europe Sets $6,636 Target

A recent analysis by Bitwise has set some ambitious price targets for Solana (SOL). The “Investment Case for Solana” report predicts that the cryptocurrency could hit a high of $6,636 by 2030 in their “bull case” scenario.

Even in their “bear case” analysis, Solana is still projected to reach over $2,300. This showcases a strong belief in Solana’s future as a leading blockchain platform.

The base-case forecast predicts 71 million daily active addresses for Solana, which translates to a price target of $4,025.73. These numbers are based on Solana’s rapidly expanding ecosystem, including major partnerships with companies like Stripe and Shopify, along with its growing number of decentralized applications (dApps) and Web3 initiatives.

However, if things don’t go entirely to plan, Bitwise still sees Solana hitting $2,318.90 in their “bear case” scenario. This assumes a more modest market share of 4.26%. The more cautious projection still acknowledges Solana’s resilience, growing institutional adoption, and ability to overcome market challenges.

Solana boasts an impressive theoretical throughput of 65,000+ TPS and sub-$0.10 transaction fees. The network processes 75% of daily transactions compared to Ethereum and its Layer 2 solutions combined.

With its low transaction fees and strong infrastructure, the platform is popular among developers and investors. By 2030, Solana could capture up to 11.36% of the projected 1 billion daily active addresses in its bull-case scenario. This equates to 113.6 million addresses and a compound annual growth rate (CAGR) of 59.1%.

Solana has broken out of its multi-month downtrend, reclaiming critical technical levels and currently trading at $215.21. The 5th-ranked cryptocurrency pushed decisively above both monthly and weekly support zones.

This technical breakout is significant as SOL overcame the descending trendline that had capped its price since November 2023. Chart analysis shows a clear break above key resistance levels, indicating strong buying pressure.

Analysts now point to Solana’s next major target at $330, which represents a potential 56% surge from current levels.

This price breakthrough, along with Bitwise’s analysis, highlights the growing institutional confidence in Solana’s ecosystem. The token continues to outshine competitors like Binance Coin (BNB) on CoinMarketCap rankings.

With its transaction capabilities and developer-focused design, Solana is well-positioned for long-term success.