Solana Smashes Back to $200, Could New Highs Be Next?
Main Idea
Solana (SOL) has surpassed the $200 mark for the first time since June 6th, with significant gains and increased market interest, potentially targeting $220 next.
Key Points
1. Solana (SOL) reclaimed the $200 mark for the first time since June 6th, adding nearly 50% in gains.
2. Analysts suggest $220 could be the next major target for SOL, comparing its significance to Ethereum's $4,000 level during its rally.
3. Digital Asset Capital Corp (DFDV) expanded its Solana holdings to nearly one million SOL, worth around $190 million, including staking rewards and DeFi earnings.
4. MemeStrategy became the first publicly listed company in Hong Kong to invest in Solana.
5. The long-term outlook for SOL is supported by its two-month performance and comparisons to Ethereum's earlier market-leading gains.
Description
Solana (SOL) has reclaimed the $200 mark for the first time since June 6th. The fifth-largest crypto by market cap has added almost 50% gains over the past month alone. The latest uptick has sparked a surge in crowd interest. Is $220 the Next Stop? While temporary re-tests of this level are likely, crypto analytic platform Santiment noted that the long-term outlook is supported by SOL’s two-month high in development activity. According to the analytics firm, SwissBlock’s latest market report, ‘A...
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