Solana price has done well over the years, moving from a small proof-of-stake cryptocurrency into a $85 billion juggernaut. It has soared by over 70,000% from its lowest point in 2020 to the current level. This surge has helped it mint many millionaires. This article explains whether a $10k investment in SOL can turn into $1 million.
Can $10K in Solana turn $1M by 2030?
The Solana price was trading at $155 on Tuesday. To turn $10K into $1M, the value of SOL will need to jump by 100x at the current level. In this case, Solana needs to jump from the current $155 into $15,000.
With Solana price trading at $155, one would buy 65 SOL tokens today, or $10,000 divided by the current price. After this, divide $1 million and $65, and the answer will be the same.
Therefore, the question is whether it is feasible for the Solana price to jump from the current $155 to $15,000. Assuming that the supply remains the same at 522 million, which is not the case, it means that Solana’s market cap would surge to $7.8 trillion.
$7.8 trillion is a big number and seems unachievable. However, the last 16 years have shown that anything is possible in the crypto industry as Bitcoin has moved from almost nothing into an asset valued at over $2 trillion today.
READ MORE: Solana Price Just Flashed 3 Rare Signals—Is a SOL Surge Coming?
Analysts are optimistic that Bitcoin has more upside to go. Ark Invest believes the coin will reach $2.4 million by 2030. In a CNBC interview, FundStrat’s Tom Lee believes that Bitcoin will surge to $3 million over time.
Assuming that Lee’s forecast is accurate, and the current Bitcoin/Solana ratio remains, it means that the Solana price would jump to $4,500 if Bitcoin surges to $3 million.
Therefore, while Solana’s move to $15,000 is possible, chances are that it will not happen by 2030.
Most Realistic Solana Price Prediction
Technical analysis can give us a more realistic Solana price forecast. The weekly chart indicates that the SOL price has been forming a cup-and-handle pattern over the past few years. Its upper side was at $247, and its lower side was at $9.84. This means that the coin had a depth of 96%.
Therefore, measuring the same distance from the cup’s upper side means that the SOL price will jump to about $490 or $500 by 2030. A $10,000 investment at that time will become $32,260.
The real figure will be much higher than that if you decide to stake Solana. StakingRewards data shows that Solana has a 7.9% yield. If the figure remains intact, the $10,000 will make a staking return of $4,630 by 2030. This means that your $10k investment would be worth at least $36,800.
