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Solana (SOL) Price Prediction – Summer Hackathon Launch with $5 Million Up for grabs

Solana (SOL) news as of 07/12/2022

This virtual event will bring together anyone with a project idea until August 16 with up to 5 million in prize money to distribute, as well as financial support for starting a start-up. The overall winner will receive $65,000 in USDCas well as three passes for an upcoming Solana conference and the opportunity to present your project to the greater Solana community.

1/ Gm, campers. It’s time for the Solana Summer Camp Online Hackathon, with $5 million in prizes & seed funding up for grabs! ๐Ÿ•๏ธ Solana Summer is back. Register & start building now: https://t.co/x5jAbKEdmu https://t.co/pOYIlQjHuP

According Coin Price ForecastSOL has a promising future and its price could reach $45.74 in mid-2023.

Mid-Term Solana (SOL) Price Prediction

Between $30 and $40, Solana is a good investment. From this level, the price of SOL should quickly break above $100 should the crypto market rise.

Long Term Solana (SOL) Price Prediction

The $250 highs reached in November 201 may well be rallied. But on condition that Solana stabilizes and there are no more network outages that panic investors.

Opinion on the Solana project

Solana was THE flagship project of 2021. But its blockchain could lose its status as Ethereum killer number 1 because of frequent breakdowns on its network which mitigate the confidence of investors.

What affects the Solana (SOL) value?

  • Network outages
  • Loss of competitiveness against competing level 1 blockchains (Cardano, Avalancheetc).
  • Adoption of Solana Pay.

Read also Solana (SOL): 5 fundamental points that you absolutely must know before thinking about investing in SOL

What is Solana (SOL)?

Solana (SOL) is the native and utility crypto of the Solana blockchain. The network was launched in March 2020. The SOL crypto serves for the transfer of value on the blockchain. It also makes it possible to secure the blockchain thanks to staking.

Solana is a decentralized blockchain developed to enable the hosting of decentralized applications (DApps), just like Ethereum.

How does Solana work?

Proof-of-history is at the heart of Solana’s protocol. A series of calculations that produce a digital record confirms that an event has occurred on the network at a given time. It can be described as a cryptographic clock that assigns a timestamp to every transaction in the network.

The network works like Ethereumserving as an investment platform (staking, yield farming), issuance of NFTs, and transfer of values โ€‹โ€‹and creation of DApps of any kind (game, NFT platform, social network, etc.)

Useful links for investing in Solana (SOL)

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