Most Investors Don’t Trust Solana — Latest Survey

PATNA (CoinChapter.com) — Nearly 33% of the financial experts surveyed by Finder stated that the network outages plaguing the network had eroded trust in the blockchain platform.

Furthermore, incidents like Solana DEX OptiFi “accidentally” locking away $661,000 was another reason behind the panel losing trust in the project. However, Solana has not lost all its supporters, with 37% of the panel saying they still believe in Solana and SOL, the platform’s native token.

On the other hand, 30% of the panel remained on the fence, including University of Brighton senior lecturer Paul Levy. The lecturer stated that the SOL token 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

However, 78% of the panel believes that Solana’s network outage issues are not due to low-cost transactions but a result of a “bigger issue.”

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MetaTope co-founder Walker Holmes noted the centralization issues in the Solana network. He warned how centralization had burned crypto users in the past. Additionally, he highlighted how Solana hosts over 30% of all its nodes on AWS, making the network insecure and unscalable.

Finder Predicts Solana To Reach $116 by 2025

By 2022-end, the Finder panel predicted Solana native token SOL to reach $35, about 10% higher than the current levels of $32.

Moreover, most of the panel believed that SOL was bullish long-term, stating that the Solana token would likely reach $116 by 2025, more than triple the price predicted for 2022. In addition, several experts noted that the platform’s growing ecosystem would help the SOL prices gain upside momentum.

But, University of Canberra senior lecturer John Hawkins remained bearish on SOL’s future, predicting a price tag of $10 for 2025. Hawkins stated that crypto would give way to CBDCs in a longer timeframe.

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,

Hawkins said

Other experts believe the Solana token would stick close to its current price band ($28-$32) before following the broader market. Seasonal Tokens founder Ruadhan O stated that the platform would likely stagnate due to the lack of “major technological or economic changes.”

At writing, the SOLUSD pair was trading at $31.6, up 2.46% on the day.

Confused about where to put your money in the current bear market? CoinChapter’s Lilit Chichyan highlights the top 5 tokens to invest in.