Investors who are particularly bullish on Solana often discuss ambitious price targets for SOL. One of the potential targets we see mentioned often is $1,000. This is not too surprising, as investors are often focused on round numbers, such as $10, $100, $500, or $1,000—these are often called “psychological price levels”.
It is certainly possible for Solana to reach $1,000 in the future under the right conditions. At its very peak in November 2021, SOL reached a price of just under $260, which corresponded to a market capitalization of $78.3 billion.
Given the current SOL supply of 402.5 million tokens, an SOL price of $1,000 would translate to a $402.5 billion market capitalization for Solana. This is obviously a very large valuation, but it’s not completely unthinkable. For example, the market capitalization of Bitcoin at the time of writing is $587 billion, so it’s definitely possible for cryptocurrencies to reach such market capitalization.
Ethereum’s peak market capitalization was around $548 billion, so it’s definitely not out of the realm of possibility for Solana to reach a $378 billion market cap. Still, getting to a price of $1,000 would require Solana to increase in price by about 40x, which won’t be easy at all. $SOL