Solana Price Prediction and Its Future in iGaming
The year 2024 has been marked by the continued excitement created by the cryptocurrency market with a focus on integrating certain coins within the iGaming (online casino) sector. In addition to the progress made by Ethereum with its ERC-20 initiative, another crypto initiative has been making waves this year in the iGaming realm. That would be Solana (SOL).
About Solana
The Solana blockchain first hit the crypto sector in early 2020, developed by Solana Labs & Solana Foundation. By March of that year, the first block on the blockchain debuted under the identifying symbol SOL.
SOL was created to support small contracts and decentralized smaller mobile app transactions. Through the years, the coin has survived its fair share of legal actions, outages, and calls for scrutiny and now exists as a viable means of exchange.
Regarding investment value, SOL has been a winner in the eyes of investors and market players. After a big price hit in 2022, the coin rebounded with aplomb in 2023, rising by nearly 1000%. In 2024, SOL gained another 45% in value, currently at a market price of just under $200.
It’s worth noting that SOL’s success is due to the incredibly short time it takes to process transactions on the coin’s blockchain. Solana’s hybrid protocol reduces validation times and the time needed to execute smart contracts.
Solana Price Predictions in 2025
With the current year coming to a close, it’s a good time to examine an investment crystal ball to see what 2025 might hold for SOL.
With SOL reaching maturity, its popularity has increased, especially in the iGaming sector. More on that below. Driven by an expected substantial international economic comeback in the next year or so, expert price predictions are all over the map.
At the low end of the spectrum, bears expect SOL’s price to hover at current levels over the year, perhaps dipping on market weakness. The bearish sentiment comes from concerns over regulatory issues in key countries and possibly network processing issues due to continued outages.
At the high end of the spectrum, the bulls expect big things from SOL in 2025. According to key prognosticators like Coinpedia and DigitalCoinPrice, the expected price range for the year should fall between $384 and $750. In a perfect market environment, some predictions see the coin’s value rising to as high as $949 at some point during the year. Average price expectations are falling in the range of $580.
What says investors on X? Investors on X seem to be trending toward optimism for the current year. Some predictions put the Q1 price at about $600, a significant increase from current levels. This indicates that investors view SOL as a coin with a lot of potential for upside in the immediate future.
How the iGaming Sector is Embracing SOL
Slowly but surely, the iGaming sector is starting to embrace cryptocurrencies as viable banking options. Some estimates state that as many as 25% of all international online casino operators are now willing to trade gambling services for cryptos like Bitcoin, Ethereum, and Dogecoin. Maybe it’s time to throw Solana into the mix. Plenty of evidence suggests that what SOL has to offer will work well within the iGaming realm.
A good example of this comes from “Motherland,” founded by Australian rapper Iggy Azalea. This comes when Azalea diversifies her business empire to include her proprietary “Mother” coin, for transactions on the Solana platform. It’s not a coincidence that Alazea unveiled her Motherland Casino concept at Solana Breakpoint in Singapore.
Why Solana?
The online casino sector is seeking support from cryptos like Ethereum and Solana. Ethereum’s ERC-20 initiative and Solana share the common feature of offering online casino operators certain advantages that benefit players and casino owners/operators.
In both cases, utility and ease of use are key factors that make these coins attractive as a means of exchange for casino operators. In the case of SOL, the speed at which transactions are recorded is highly appealing. It gives players great confidence that they are in action in minutes or two when they make deposits through the Solana blockchain. The notion of fast withdrawals is also very appealing.
Over time, Solana is expected to continue expanding into the iGaming sector. As its popularity among online gamblers increases, transaction pricing should drop to almost nothing. Affordable transaction fees appeal to online casino players tired of paying exorbitant fees to credit/debit card processing companies and banks.
If there is a pause in the excitement of online casino players’ SOL usage, it has to be due to ongoing regulatory concerns. In certain jurisdictions, efforts continue to classify cryptos like SOL as investment securities. If successful, crypto users would have to bear the burden of complicated regulations that could well vary from one jurisdiction to another. Also, the technical concerns related to network disruptions and the like will probably continue to linger into the foreseeable future.
Conclusion
In a perfect world, all signs point to the sky for SOL’s price. Barring any sudden surprises, it’s reasonable to expect strong price increases over the next year or two.
As the coin strengthens in value, it’s reasonable to expect that more crypto casino operators will be more than happy to embrace SOL as a viable exchange. Indeed, the outlook for 2025 is good. However, crypto markets have taught us time and again that caution and guarded optimism are always warranted to avoid aggressive enthusiasm.