33% Losing Trust in Solana: Finder panel

33% “losing trust” in SOL team: Finder’s Solana Price Predictions Report

33% of Finder’s panel say they’re “losing trust” in the Solana (SOL) team.
78% say network outages aren’t caused by low-cost transactions, but by a bigger issue.
SOL to end 2022 at US$35.
35% think the Helium Network price drop will deter other networks from moving to Solana.

PRESS RELEASE – 33% of Finder’s Solana Price Predictions panel say they’re “losing trust” in the Solana team amid network outages and incidents like the $661k DEX loss.

However 37% say they’re not losing trust and the remaining 30%, including University of Brighton senior lecturer Paul Levy, are on the fence.

“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,” said Levy.

However just 22% of the panel agree that Solana’s network outages are a result of its low-cost transactions while the majority (78%), including MetaTope co-founder and vice president Walker Holmes, say it’s a ‘bigger issue’.

Holmes thinks “SOL has one of the strongest communities in the game” and adds that its “ability to onboard, scale, and offer incredibly cheap fees makes SOL a highly trafficked place.” However, Holmes notes that the network is struggling with centralization:

“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,” he said.

By the end of 2022, the panel thinks SOL will be worth $35 before more than tripling to $116 by 2025 on average.

Unocoin Technologies Pvt Ltd CEO Sathvik Vishwanath gave an end of year and 2025 price prediction on par with the panel average ($33 and $100) noting that “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.”

However University of Canberra senior lecturer John Hawkins is bearish on SOL with an end of year prediction of $25 and 2025 prediction of just $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,” he said.

Seasonal Tokens founder Ruadhan O thinks SOL’s price will stay near its current price this year and then “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.”

Ruadhan is part of the 35% who think Helium Network’s price drop after its proposed transition to Solana will deter other networks from moving to the blockchain.

However about an equal number (36%) disagree and the remaining panelists, including CoinSmart Financial Inc. CEO Justin Hartzman, are unsure.

“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,” he said.

38% of the panel think the Helium partnership will have a positive impact on SOL’s price with most (34%) suggesting it will be a moderate impact.

You can read the full report here: https://www.finder.com/solana-sol-price-prediction