In this article I analysed the progress and the utility of the project, the tokenomicas and what price to expect from
$SOL !
What is SOLANA?🤔
Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Basically the significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
In the SOL oficcial site we can see that the projects in SOLANA ecosystem is growing fast. On the Solana blockchain already was builded and launched good and famous projects like Orca, JITO, Pyth and Jupiter.
Also Solana created and started selling crypto phones. It took nearly a year for Solana to sell out 20,000 units of its first crypto phone. But the second phone has hit 100,000 pre-orders in just under a month, according to Solana Labs' Head of Creative Ross Cohen.
The price was 1000$ iniccially but already dropped to 600$. That shows that the developers are working to improve the project, what is a good point.
Now about the Tokenomics💰
Through an on-chain governance process, Solana's community of validators voted to enable staking rewards and inflation, which are now live.
Solana's initial inflation rate is 8% annually, decreasing by 15% year-over-year, reaching a long-term fixed inflation rate of 1.5% annually.
That means that there does not exist max supply for SOL coins because there is an inflation of 1.5% every year. That is not a good point for the token but it is not too big problem to say that the token is nothing only because of that.
Solana Market cap now is $56Billion with a 127$ price per coin. In the last bullrun Solana reached a $72Billion Market cap with a 250$ price.
So if Solana reach $72Billion market cap on this bullrun it will only cost 168$ per coin. But let's suppose that it reach the double of market cap, $150Billion market cap, it will cost 340$ per coin. But we don't know if it will even reach $150Billion marketcap due to the fact that the only cryptocurrencies that reached it and even more is BTC and ETH only.
How much market cap is needed to SOL reach 500$, 800$ and 1000$:
$202Billion market cap is needed for a 500$ price;$352Billion market cap for a 800$ price;$404Billion market cap for a 1000$ price!
So basically it depends on interest of cryptocommunity to invest in SOLANA. But I really suppose that will not be reached more then $200Billion market cap.
What price to expect from SOL?🔥🚀
On this bullrun the price per coin will probably reach between 340$ and 500$.So if you buy now you will have approximately x3 ROI from now.
It is a secure investment but with small gains, comparing with another cryptocurrencies. So it's only depends in your choice.
Share your opinion about the project in comments👇👇👇
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