33% “Losing Trust” in SOL Team

Solana price prediction: 33% of an in-industry expert panel say they are losing trust in SOL and the Solana team. The result follows network outages and dramas like the $661k DEX loss. This is according to the latest Finder report.

While there have been problems with the Solana network, not everyone is ready to dump Solana and head for the hills. 37% of the panel say they’re not losing trust. The remaining 30% are on the fence.

Paul Levy is a senior lecturer at the University of Brighton. “SOL is in recovery mode… Despite some well-publicized technical failures and network outages it has a high reputation in the scientific community. Its problems will be short-term and have been shared with many other players. It has a potentially positive longer-term future.”

Outages

In relation to Solana’s network outages, 22% of the panel believe they are a result of its low-cost transactions. 78% say it’s a ‘bigger issue.’ 

Walker Holmes is the MetaTope co-founder. “SOL has one of the strongest communities in the game. Its ability to onboard, scale, and offer incredibly cheap fees makes SOL a highly trafficked place.” 

Holmes says the network has centralization issues. “We have seen users be burned in the worst ways. Typically large amounts of centralization are at the heart of the problem. Solana hosts over 30% of all its nodes on AWS, this does not scale, this is not secure. I hope the community can work together to solve problems related to centralization in the Solana network and allow the network to evolve in a sustainable way.”

Solana price prediction

By the end of this year, the panel believes SOL will be priced at $35. Then, on average, they feel it will more than triple to $116 by 2025.

Sathvik Vishwanath is the CEO at Unocoin Technologies. “Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more.” He predicts that Solana will be worth $33 at year-end and $100 at the end of 2025.

John Hawkins is a University of Canberra senior lecturer. His end-of-year price prediction is $25 and for 2025, his prediction is $10.

“Solana has no fundamental value and largely tracks Bitcoin’s price. Being PoS rather than PoW it may outperform Bitcoin. But in the longer term, crypto will lose out to CBDCs.”

Ruadhan O is the founder of Seasonal Tokens. He believes the SOL price will hover on the current price in 2022. Then it will “follow the broader market, but with a downwards trend in comparison to Ethereum.”

“Contracts deployed on Solana will continue to be valuable, but new projects will choose to launch on other blockchains…Without any major technological or economic changes to the Solana system, progress is likely to stagnate. Technical difficulties will be overcome in time, but that won’t be enough to attract new projects to the chain.”

The Helium Network’s price drop after a suggested transition to Solana. This may discourage other networks to move to the blockchain. 

Justin Hartzman is the CEO of CoinSmart Financial Inc, and is more optimistic. “The biggest win that Solana had in the last few months was getting Helium to migrate over to their chain. If Helium thrives in Solana it could prompt more apps to follow suit.”

38% of the panel feel that the Helium partnership will indeed have a positive impact on the Solana price.

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