Although #Solana ($SOL ) has followed the bullish sentiment of the general cryptocurrency market, nearly doubling its price since the beginning of 2023, the machine learning-based predictions are not very optimistic for the end of the year, but important technological trends predict a different story a bit further into the future.

As it happens, the self-learning machine algorithm used by the #cryptocurrency analytics platformCoinCodex has set the price of Solana at $16.18 on December 31, 2023, suggesting a 19.38% decrease from its current price, according to the latest data retrieved by Finbold on July 7.

On the other hand, going further into the future, if the price of Solana moves to mimic the similar growth patterns of the internet, mobile tech, and tech giants Google (NASDAQ: GOOGL) and Facebook (NASDAQ: META), its holders could end up taking a significant profit.

Indeed, if Solana followed the advance of the internet, it could reach the price of $67.64 (+237.02%) by the end of 2024, whereas keeping up with the growth of mobile tech could propel it toward $66.50 (+231.34%). Should it imitate Google’s expansion, it could end up at $98.87 (+392.63%), while taking Facebook’s road could have Solana reach $ 199.71 (+895.07%) by that time.

In terms of Solana’s price for the end of 2025, applying the above logic could lead it to $87.33 (+335.13%) if it went down the internet’s path or $85.13 (+324.17%) if it mimicked the growth of mobile tech. At the same time, moving in the same manner as Google could help it hit $154.31 (+668.86%), whereas following #Facebook could lead it to a whopping $443.02 (+2,107.37%).

Solana price analysis

At press time, Solana was trading at the price of $20.07, demonstrating a decrease of 0.91% on the day but still advancing 7.55% across the previous week and 1.17% over the past month, as the most recent charts on July 7 indicate.

As things stand, Solana’s current sentiment at CoinCodex is neutral (59% bullish vs. 41% bearish), whereas the Fear & Greed Index is tilting toward Greed at 55, representing a good time to purchase SOL, as its support stands at $16.94, facing resistance at $22.92.

Whether this #crypto asset continues to move in the direction presented above will depend on developments directly related to its ecosystem, as well as the general sentiment in the industry dictated by regulatory, legal, and macroeconomic factors.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.#pepe

#Facebook and #Instagram have stated that as of April 11, 2023, they would no longer support NFT. In other words, all digital objects on Instagram, including articles with digital items, will stop functioning.

The ability for users to post new digital objects will be removed and any items they have already shared will continue to exist as postings but without sparkles or #blockchain data. These posts may still be deleted by users at any time. If an article contains an item that can only be viewed in the profile's tab for digital objects, the article will be archived.

Additionally, users' profiles on Facebook and Instagram will no longer be connected to or linked to outside e-wallets. Users can no longer change their third-party e-wallet connection settings or access their digital items in the relevant tab.

In particular, consumers won't be able to access or download information about specific items after April 11, 2023. Users have until that date to file a request if they want to download their data. Digital item data, such as wallet addresses, will start to be removed from Facebook and Instagram's servers. In compliance with their terms of use and privacy policy for digital items, they will both retain and remove data.

As users will no longer be able to view or manage their digital things beyond the deadline of April 11, 2023, this is a significant development for users of Instagram. Users who have spent money and time on the platform creating and collecting digital products will need to find new arrangements. Since more social media platforms are embracing #digital collectibles, it is unclear how this would effect the larger #NFT ecosystem.

This news is republished from https://coinaquarium.io/

On April 11, #Meta will stop offering its "Digital Collectibles" NFT-sharing tool, ending a project that let users share their #NFTs on Facebook and Instagram.

The function, which was initially introduced in May 2022, was designed as a way to more effectively connect the platforms into the ecosystem for digital collectibles. Users could share appropriate image- or video-based NFTs as a special kind of post by connecting a crypto wallet. These automatically tag the owner and the creator of each digital object and have a subtle shimmer effect.

Meta will no longer be able to connect to third-party wallets, and existing Digital Collectible posts will be changed to regular #Facebook and #Instagram posts.

Less than a year after its debut, Meta's decision to wind down the initiative may surprise some people. The Big Tech company only recently released interoperability for Solana wallets in November. indicating a continuous dedication to NFT compatibility. But it appears that initial zeal has faded.

Additionally, Meta is not the only business that has reduced support for NFT connectors.

Other Platforms Hold Back On NFT Adoption

Following a prior wave of enthusiasm, Microsoft-owned Mojang Studios declared in July 2022 that it would not offer NFC compatibility on Minecraft. The firm effectively de-platformed games like NFC Worlds in a single action. It had been using customized Minecraft servers to tokenize virtual land plots while it built its own metaverse.

Many businesses who first hopped on the NFT bandwagon have subsequently scaled back their objectives in the field, and platforms are also giving up support for third parties.

As an illustration of a brief-lived experiment, CNN announced in October that it will end its NFT marketplace Vault. Users can buy and sell "Moments"—NFTs based on some of CNN's historically noteworthy coverage—on Vault, which was launched in June 2021. Additionally, the company has stopped creating new coins, yet the peer-to-peer marketplace still runs.

Scrapped UK NFT Plans

However, some #NFT initiatives were never even started. The UK's Royal Mint is one potential token creator, which announced in March that it would not proceed with plans to coin a "NFT for Britain" anytime soon. Andrew Griffith, the Treasury's economic secretary, said:

“The Royal Mint is not proceeding with the launch of a non-fungible token at this time but will keep this proposal under review.”

While some critics will use the recent spate of failed NFT projects as proof that a bubble has burst, a thinning of the herd would be a more accurate comparison.

Just as Initial Coin Offerings (ICOs) increased dramatically in the 2010s, (ICOs). That too was subsequently reduced to a smaller amount of cryptocurrency that were really used. The NFT space is still growing and has some puppy fat on it. Platforms that demonstrate their value and establish traction with users will endure as the industry matures. However, a lot of them will fade into obscurity.

This news is republished from https://coinaquarium.io/

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