SOL price forecast after Google Cloud becomes validator and Circle adds support

on Nov 7, 2022
Listen to this article
  • In the last 24 days, the Solana (SOL) cryptocurrency grew in value by 25%.
  • Solana can climb to $40 by the end of November 2022.
  • This growth is fueled by Google Cloud becoming a validator and the added Circle support.

Google Cloud made an announcement that it is running a validator on the Solana (SOL/USD) blockchain and will add features that will welcome new developers and node runners.

USD Coin (USDC/USD) issuer Circle announced that it will launch Euro Coin (EUROC) and cross-chain transfer protocol on Solana in the first half of 2023.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Solana is essentially a decentralized blockchain that is built to enable scalable, user-friendly applications and is powered by its native cryptocurrency, the SOL token.  

Google Cloud validator launch and Circle support as catalysts for growth

In the latest Solana news, on November 5, 2022, Google announced that the Google Cloud service is running a block-producing Solana validator to participate in as well as validate the network. 

Google Cloud is planning to bring its Blockchain Node Engine to the Solana blockchain in 2023. 

Then on November 6, 2022, Circle made an announcement that they will bring Euro Coin (EUROC) and cross-chain transfer protocol to Solana in early 2023. 

This further drives Circle’s commitment towards expanding their support of Euro Coin on additional chains and providing developer access to a permissionless cross-chain infrastructure.

Should you buy Solana (SOL)?

On November 7, 2022, Solana (SOL) had a value of $31.385.

SOL/USD Chart by Tradingview.

The all-time high of Solana (SOL) was on November 6, 2021, when the cryptocurrency reached a value of $259.96. Here we can see that at its ATH, the cryptocurrency was $228.575 higher in value, or 728% higher.

To truly get a better perspective surroundings its performance, we will be going over its weekly performance first. Here, SOL had its low point at $30.35, while its high point was at $38.03. Here we can see an increase in value of $7.68 or by 25%, showcasing a bullish outlook.

However, when we go over the performance SOL showcased within the last 24 hours, its low point was at $31.02, while its high point was at $36.36. Here we can see an increase of $5.34 or 17%.

With all of this in mind, SOL can climb to a value of $40 by the end of November 2022, making buying SOL a solid opportunity for investors.