A look at the main drivers of the rise
Bitcoin returned above $100,000 after the liquidation of longs below 98,000 yesterday. Indeed, BTC is currently priced at 102 300 dollars and could go get the 103 000 dollars before tomorrow, according to the FBB (Fibonacci Bollinger Band) signal.
The price of Solana (SOL) has seen a significant increase over the last two days. This upward trend is explained by a combination of technical and fundamental factors which suggest a positive development for the cryptocurrency.
Anticipation of a Solana ETF in the United States and a pro-SOL Trump
Solana is therefore a candidate for the next ETFs. In addition, SOL would be among Trump’s favorite tokens to make a strategic reserve. According to JPMorgan analysts, a ETF Solana could generate between 3 and 6 billion dollars new entries into the SOIL. As a result, the price of SOL could go to record levels, between 500 and 1000 dollars according to experts.
Solana in a good position for a new ATH
According to crypto analyst Luca, a divergence between OI and BTC price is forming, which could push BTC to higher highs. As a result, BTC.D (Bitcoin dominance) could quickly fall:
“I believe we are closer than ever to an #Altseason, with $BTC closing in on its first distribution range of this bull market. I think the last few days have been a good opportunity to accumulate and position myself for the next leg up,” says Luca on X.
It is in this context that SOL will finally be able to seek a new ATH and maintain price discovery.
The SOL could continue its race towards 230 dollars before the weekend, if BTC also continues its rise. The recent fall to 168 dollars made it possible to liquidate the previous support and therefore to operate a strong hand/weak hand transfer. Smart money was able to position itself. To put it simply, there is a good chance that this low of $168 is protected and therefore that it is the local low.
Solana, an ultra-sound money?
Over the past year, SOL has become the best alternative to ETH in the portfolio of crypto whales and institutions. At the dawn of a memecoin supercycle, Solana is the blockchain that serves as the world’s largest casino.
-But the SOL could take on a new dimension. Indeed, Multicoin Capital Executives has just formulated a proposal to governance to implement a new release schedule of the token. This modification would aim to make the token a “ultra-sound-money”, or an ultra-reliable currency.
The proposal SIMD-0228 could then transform the future of the SOL token. Another bullish element for holders:
“Given the level of economic activity achieved by the network and the subsequent revenues earned by MEV stakers, the time has come to review the network’s issuance mechanism and evolve it from a fixed-schedule mechanism to a market-driven programmatic mechanism”, explains Multicoin co-founder Tushar on X.
The evolution of the Solana blockchain promises to be exciting and crypto could experience another explosive bull run.
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