Amid crypto market bearish turmoil, Solana’s active validator count has reached an impressive figure of 1,875 recently. This goes on to show how this blockchain is far more secured and decentralized than others in the crypto industry.
What’s more impressive is that Solana touched a count of 1,000 active validators just over a year ago.
Source: Medium
This means that Solana now has the most active validators among all proof-of-stake blockchains besides Ethereum, which has 8,417 nodes and 409k validators.
Interestingly, the validator count on Solana has increased massively since the launch of the mainnet beta.
Source: Medium
However, there is a pressing concern among Solana validators in their geo-diversity. Almost half of the validators are located in the U.S. and Germany.
According to ablog on Messari, “If too many validators are concentrated in the same places, the health of a blockchain becomes reliant on the regulatory regimes of those countries.”
Another important aspect of a healthy blockchain is the distribution of staked tokens among those validators. In comes the “Nakamoto coefficient” which is defined as the smallest number of validators who cumulatively stake 33% of the network’s staked tokens.
A higher coefficient value would mean a higher distribution of staked tokens. Hence, this represents a higher degree of decentralization.
Source: Medium
Solana has a Nakamoto coefficient value of 27 which is higher than most blockchains besides Polkadot. But in hindsight, Polkadot has only 15% as many validators as Solana.
There’s more in the house
That being said, Solana co-founder tweeted about the launch of the Testnet v1.10.32 on 26 July. Users have been visibly excited about this launch as it continues to fix bugs on the network which has seen multiple outages recently.
Nevertheless, the Solana network has managed to perform well in the past quarter. Despite both internal and external headwinds, Solana’s network received major upticks in many areas. It has even managed to retain loyal users over the period in review here.
Testnet @solana validatoooooors! It's time to check discord.https://t.co/lZjdgZl8cQ
— SMS T◎Ly, ?? (@aeyakovenko) July 25, 2022
Now, you might ask- what can we expect now for Solana? The health of the network has been a major criticism in terms of network outages. But recent server improvements can signal an upturn in fortunes for this Ethereum-killer.
FAQs
Is Solana cryptocurrency A Buy? The Solana cryptocurrency holds several negative signals and despite the positive trend, we believe Solana will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Can sol reach 1000 USD? ›
As per our thorough analysis of its rising popularity, adoption and new updates, Solana can reach $1000 by 2030. With an impressive surge of 800% during a mildly bullish period, SOL has demonstrated substantial market potential and room for further expansion.
Does Solana have a future? ›
Our most recent Solana price forecast indicates that its value will increase by 0.12% and reach $138.16 by May 04, 2024. Our technical indicators signal about the Bearish Bullish 47% market sentiment on Solana, while the Fear & Greed Index is displaying a score of 43 (Fear).
Has Solana reached its peak? ›
In a universe where volatility reigns supreme, Solana (SOL) stands out with meteoric growth, reaching a peak unmatched in 23 months.
How much will 1 Solana be worth in 2025? ›
Solana (SOL) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 138.48 |
| 2025 | $ 145.40 |
| 2026 | $ 152.67 |
| 2027 | $ 160.31 |
1 more rowLong-term Solana price prediction for 2025, 2026, 2027, 2028, 2029 and 2030
| Year | Yearly Low | Yearly High |
|---|
| 2027 | $ 115.67 | $ 145.31 |
| 2028 | $ 125.35 | $ 330.54 |
| 2029 | $ 262.57 | $ 633.70 |
| 2030 | $ 270.18 | $ 466.57 |
2 more rowsThe Solana price prediction from CoinPedia suggests that Solana price could reach a maximum level of $200 per SOL in 2024. By 2025, Solana's price could add another $50, bringing it to $250 each SOL. Longer term, the digital asset could reach as high as $672.
Will Solana reach $3000? ›
Solana must constantly improve its technology and build a diverse ecosystem to succeed in the long term. According to VanEck analysts, SOL can break above $3,000 by 2030. However, if it fails to adapt to market conditions and generate significant revenue, it can lose market share and trade at only $10.
How high is Solana expected to go? ›
Solana price could reach a potential high of $500 by the end of 2024. Solana network has one of the fastest transaction speeds and success rates when compared to its rivals. SOL price, with a potential surge, could go as high as $1672 by the end of 2030. The current price of Solana is $ 137.46096963.
Will Solana survive long-term? ›
The long-term outlook for Solana remains optimistic, with projections suggesting a potential exponential growth in its price. Experts predict a significant increase in Solana's price range expectation, highlighting its potential to offer lucrative opportunities for investors over the years.
The crypto community is divided on Solana's long-term prospects. But our research suggests that Solana could return. In the coming months, Solana Coin might see a recovery thanks to its reliable blockchain technology and investor adoption.
Which crypto will boom in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Tron (TRX) | $10.1 Billion | $0.1152 |
| Polkadot (DOT) | $10.2 Billion | $7.12 |
| Cosmos (ATOM) | $3.4 Billion | $8.64 |
| Maker (MKR) | $2.9 Billion | $3,160 |
6 more rowsSolana price can be expected to continue its upward trend well into 2024, as highlighted in the article above. This is because we are seeing a broad base recovery in the crypto market, which is triggering a good bullishness in the 'Ethereum-killer' altcoin too.
What is the highest Solana has gone? ›
The all-time high of Solana is $260.00.
What should I do with my Solana? ›
You can passively grow your assets with Ledger by participating in the Solana network. By delegating your Solana to a validator such as Ledger by Figment, you will receive rewards for helping to secure the network.
Should I stake my Solana crypto? ›
The upsides of staking Solana include earning passive income and contributing to network security, but the downsides include financial penalties, market volatility, and technical issues.
