Solana

David

when

Hedge

Chainlink

Prior to the majority of Crypto companies, SOL Solana achieved its highest price in one month on Friday. Syncracy Capital’s co-founder claims the token “continues to be the best deal of this cycle” and forecasts a $200 price tag by May’s end. Outperforming most major digital asset producers, Solana’s native token (SOL) is leading the recovery in cryptocurrency prices and could soon reach new cyclical highs.
After reaching a new monthly high of $170 on Friday, SOL has since dropped marginally to $166. Since hitting rock bottom in early May, when Bitcoin fell to $56,000, it has climbed by nearly 7% in the last day and is now up by more than 40%.
Chainlink (LINK), which benefited from news of a fund tokenization pilot partnership, had the second-largest weekly gain among members of the broader Crypto benchmark CoinDesk 20 Index (CD20), behind Solana’s 17% gain.
According to Daniel Chung, co-founder of digital asset hedge fund Syncracy Capital, “The strength of SOL has been incredible during this rebound.” (X post by Chung). “It’s pretty clear that this is still the best deal of the cycle.”
Chung expressed growing “confident” in SOL’s ability to reclaim the $200 mark by month’s end and reach new record highs “soon.”
At the height of the prior bull cycle in November 2021, SOL hit an all-time high of $260.
The rapid trading of meme coins, the high volumes of stablecoins, and the decentralized finance (DeFi) activity are all factors that are helping Solana succeed.
As pointed out by Chung, the forthcoming network upgrades lay the groundwork for Jump Crypto’s much-anticipated Firedancer, a secondary chain client with the goal of enhancing network performance.
In a private message to X, Anagram research partner David Shuttleworth added that there is “increasing interest in general cryptoeconomic security” (sometimes called restaging) in the ecosystem.

Hedge fund founder Solana predicts that Solana’s SOL could hit $200 by month’s end.

Blocksays

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