Solana (SOL) has been making waves in the cryptocurrency world, with new comments from key figures like Marco Santori shedding light on the future potential of the digital asset. Santori, a former Kraken CLO, recently introduced Solmate, a new Solana infrastructure project for the UAE, where he will serve as CEO. This development has sparked interest in SOL’s price action and what could confirm higher prices in the near future.
Santori emphasized that Solmate is aligned with the Solana Foundation and has backing from UAE investors. He also highlighted support from Ark Invest, noting that this is a rare investment by an ETF. The project’s focus is on digital asset treasury and crypto infrastructure, with a goal of achieving SOL-per-share growth for shareholders. Santori sees digital asset treasuries as “capital accumulation machines” and believes that the UAE is the ideal location for such endeavors.
In terms of operations, Solmate is partnering with RockawayX for staking infrastructure and has plans to establish bare-metal validators in Abu Dhabi to enhance performance and reliability for staking activities. Santori’s overall sentiment towards the Solana ecosystem is positive, stating that it is the fastest and most used blockchain, outpacing similar networks like Ethereum. He even went as far as saying that Solana delivers on promises that Ethereum has yet to fulfill, expressing his unwavering support for the project.
Analysts have also weighed in on SOL’s price action, with Rekt Capital noting that SOL has broken a long-term downtrend and is retesting the $238 level as support on the weekly chart. A successful retest of this level could pave the way for new all-time highs. Trader KALEO also expressed optimism, suggesting that SOL reaching $1,000 or more is a realistic possibility.
CoinDesk Research provided technical analysis on SOL’s recent price movements, highlighting key levels to watch for potential breakout or consolidation. The analysis showed that buyers defended the $245 level, while sellers pushed back near $253. A close above $253 could signal a move towards $255-$260, while a drop below $245 could lead to a retest of $238.
Overall, the sentiment around SOL remains bullish, with key figures and analysts pointing to potential upside in the near future. As the cryptocurrency market continues to evolve, SOL’s price action will be closely watched for confirmation of higher prices and new milestones. CoinDesk: A Trusted Source for Cryptocurrency News
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