SOL Started in 2017 and has experienced wild growths to hit triple digits per unit. Its debut value was about $0.79 a unit, which in 2021 grew to about $260 when the crypto market was in a bear momentum that also saw bitcoin hit over $65K. However, the impressive run came to a halt in 2022. The coin has since dropped by over 80 percent to trade at about $30 at the beginning of July.

However, while SOL’s current market run is frustrating, disturbing some <a href="https://primexbt.com/for-traders/cryptocurrency-trading-strategies/" target="_blank" rel="noopener">cryptocurrency trading strategies</a> in PrimeXBT and many other platforms, the coin’s future seems bright. It could soon trade higher than its previous record of over $260.
<h2><strong>What Are The Pull Factors Of The Sol Token?</strong></h2>
The SOL’s token impressive rise stems from the blockchain network it helps fuel. Solana is the native name of the blockchain that has so far disrupted Ethereum's ambitions because of its efficiency and low cost. In terms of transactions, it makes about 2700 of them within seconds. In comparison, Ethereum does about 20. However, that might change to over 100,000 when ETH 2.0 comes into full use.

Any sane person wanting to interact using the blockchain with other people via Dapps or any other way might also choose Solana because of its low gas fees. Faster speeds and low cost are enough to make the platform grow big to support mainstream activities like card payments and massive crypto wallets controlled by big crypto exchanges.

Other areas making <a href="https://www.cryptoknowmics.com/news/sol-technical-analysis-will-solana-take-the-bullish-exit/" target="_blank" rel="noopener">Solana</a> stand out are the proof of stake features that appeal the most to crypto miners and the proof of history functionality (POH). POH keeps the history of mining intact for miners to have their share of crypto in the right order.
<h3><strong>Solana and NFTs</strong></h3>
NFTs have become a lucrative asset for digital asset lovers and traditional art lovers seeking to digitize their creations. Solana has been at the forefront of the revolution from the start. Its low gas fees reduce the costs involved in exchanging an NFT art in the top marketplaces it supports. NFTs seem to be good instruments to buy and hold. Many people in the Solana ecosystem seem to do just that, with 90 percent of them actively buying. Meaning that in a decade from now, the blockchain network will still be there holding people's assets.
<h2><strong>Where will Sol Stand by the end of 2022?</strong></h2>
Going by what is happening in the markets, the SOL token has weathered some of its biggest tests. Though the coin has dropped by a significant value percentage-wise in the inflation storm that is ensuing, it has shown investors that it is capable of withstanding some of the most trying times in the crypto market.

At the beginning of July, the coin was worth about $30 per unit. However, at year-end, the figure might finally reach $42, according to Capital.com.
<h2><strong>How Will SOL Fair in 2023?</strong></h2>
The year 2023 might be the turning point for many assets, not just crypto, according to Gove Capital. Many predictions point out that <a href="https://www.cnbc.com/2022/07/15/inflation-will-likely-be-tamed-next-year-when-rate-hikes-start-to-work-imf-chief.html" target="_blank" rel="noopener">inflation rates might begin falling</a> in 2023 as interest rate measures begin to take hold of the economies. Higher interest rates will dampen spending, throwing some economies off their growth momentum. However, that will breed a new environment for taking positions in cheaper assets.

From the PrimeXBT’s trading terminal, crypto instruments are extremely volatile making it hard to predict their future price. Some top prediction platforms put the value of Solana at over $200 per unit in 2023. The figure might represent an increase of over 1000 percent. Alternatively, the coin could plummet further if the prevailing economic conditions on the world stage continue to take hold.
<h2><strong>Conclusion</strong></h2>
Many assets have taken huge downside swings in the price charts amidst the COVID-19-inspired inflation, according to PrimeXBT’s price terminal. Cryptocurrencies have not fared better. However, Solana has resisted much of the heat from the inflation though shedding a significant amount of points. The coin will march on and likely rise higher when the markets calm.

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Crypto Technical Analysis: What is the Future of the Sol?

Some top prediction platforms put the value of Solana at over $200 per unit in 2023. The figure might represent an increase of over 1000 percent.

As a keen observer of every latest development in the crypto world, Guest has formed a sound understanding of how the blockchain and cryptocurrency works. Guest likes to keep a tab on all the trends within the crypto industry and treats our readers with insightful content.

Crypto Technical Analysis: What is the Future of the Sol?

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