Solana

DeFi

when

<p><a href="https://bitcoinist.com/solana-price-2-year-high/" rel="nofollow">Solana (SOL)</a> looks to be attracting the attention of <a href="https://www.newsbtc.com/news/bitcoin/institutional-buyers-of-bitcoin/">institutional investors</a>, with this Solana fund trading as high as an 870% premium following <a href="https://bitcoinist.com/incarcerated-sam-bankman-fried-promote-solana/" rel="nofollow">SOL’s bullish momentum</a>. These investors’ interest in the SOL token isn’t surprising as on-chain metrics suggest it is still undervalued, and a parabolic rise might be on the horizon.&nbsp;</p> 
<h2 id="grayscale-solana-trust-trades-at-a-premium">Grayscale Solana Trust Trades At A Premium&nbsp;</h2> 
<p>Per <a href="https://www.grayscale.com/crypto-products/grayscale-solana-trust#section3883" rel="nofollow">data</a> from Grayscale’s website, the Grayscale Solana Trust (GSOL) is currently trading at $317 per share, representing a <a href="https://bitcoinist.com/grayscale-bitcoin-trust-gbtc-premium-tanks-to-19-as-more-competition-weighs-in/" rel="nofollow">significant premium</a> from SOL’s current price. The premium had risen to 870% on March 8 when GSOL was trading at $540. Shares in the fund are designed to track the value of <a href="https://www.newsbtc.com/news/solana/solana-headed-to-100/">SOL’s price</a>, allowing institutional investors to have exposure to the token without holding it.&nbsp;</p> 
<p>The disparity between the share price of GSOL and SOL’s price might be because institutional investors are limited in the means to gain exposure to SOL. As such, a fund like GSOL could see its price increase exponentially (just like now) when there is increased <a href="https://www.newsbtc.com/news/altcoin-delight-solana-balloons-to-50-nearly-triples-in-a-month-heres-why/">institutional demand</a> for the SOL token.</p> 
<p>Institutional interest in SOL is also evident from <a href="https://www.newsbtc.com/news/solana/pantera-capital-plans-250m-solana-sol-buy-analyst-predicts-record-rally-toward-1000/">NewsBTC’s recent report</a> that crypto-focused asset manager Pantera Capital is raising funds to buy $250 worth of SOL. Investors are likely to jump on this opportunity, considering that these SOL tokens will reportedly be sold at a fixed price of $59.95, meaning there is an opportunity to make significant gains from the deal.&nbsp;</p> 
<h2 id="sol-still-greatly-undervalued">SOL Still Greatly Undervalued</h2> 
<p>Crypto analyst Hansolar suggested that SOL was still undervalued when he <a href="https://www.newsbtc.com/news/solana/solana-predicts-push-to-600/#:~:text=The%20tremendous%20rise%20in%20Solana's,according%20to%20data%20from%20CoinMarketCap.">mentioned</a> that the crypto token might not take off until BTC and ETH hit <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">new all-time highs (ATH)</a>. He also predicted that SOL could rise to as high as $600 in this <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">bull cycle</a>. Meanwhile, the argument about SOL being undervalued is backed by the fact that it is still far off from its ATH of $260.&nbsp;</p> 
<p>Crypto tokens are known to set a new ATH in every bull run, and there is every likelihood that it won’t be different for SOL this time around. Moreover, SOL and the <a href="https://bitcoinist.com/solana-network-celebrates-major-milestone/" rel="nofollow">Solana network</a> are gaining much traction heading into this cycle, which should contribute to more price surges for the SOL token.&nbsp;</p> 
<p>Solana recently registered an ATH in the number of <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-0-0008-ath/#:~:text=SHIB's%20all%2Dtime%20high%20(ATH,a%20new%20ATH%20very%20possible.">daily new addresses</a>, with many users onboarded into the ecosystem. This increased interest in the network has been partly due to its <a href="https://bitcoinist.com/jupiter-uniswap-solana-ethereum/" rel="nofollow">DeFi landscape</a>, which is going head-to-head with Ethereum’s, and the <a href="https://bitcoinist.com/solana-meme-coins-myro-wif/" rel="nofollow">current meme coin frenzy</a> on Solana, which has attracted investors.&nbsp;</p> 
<p>At the time of writing, SOL is trading at $152, up over 2% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/solana/" rel="nofollow">data</a> from CoinMarketCap.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/A4TrVHpO/" alt="Solana price chart from Tradingview.com" width="3286" height="1530"></p>

Solana Demand Soars As Institutions Buy Up SOL At A Massive 870% Premium

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