Solana has experienced notable growth in the DeFi, NFT, and Web3 markets since its inception in April 2019. Numerous projects are currently being developed on the Solana network, with more expected to emerge soon.
According to information provided on Solana’s official website, the company’s main value proposition is offering low-cost transactions indefinitely. As a blockchain network, it competes directly with other platforms, such as Ethereum. Solana had breached the price level of $200 after a prolonged year of downward trend. However, according to recent data, SOL has been down amidst the recent bearish market trend.
Also read: Top 3 Meme Coins For 10X Gains To Include In Your Portfolio
According to the latest market data, SOL is trading at $136, with a 5.2% drop in value over the last 24 hours. With the whole cryptocurrency market being volatile, here is our price prediction for Solana (SOL) for May.
SOL price prediction for May
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up or go down in price in May.
Based on its behavior at the start of 2024, cryptocurrency experts at Changelly offer their price prediction for Solana SOL for May. For this timeframe, SOL’s minimum price is anticipated to be $142, and its maximum is anticipated to be $165.
Also read: Shiba Inu: ChatGPT Predicts When SHIB Could Hit $0.01
SOL is down by 9.7% in the last seven days and 31.1% in the last 30 days, according to the latest CoinGecko data.
Additionally, the experts expect that SOL will trade at an average price of $153. Changelly experts predict that the SOL price is likely to hit the $150 price level in May. However, the entire prediction could depend on the overall market sentiment.