
In the last week, Solana has gone up a big 17%, making it the top performer in the CoinDesk 20 Index (CD20), a way to see how the bigger digital money market is doing, second only to Chainlink. This happened right after Chainlink talked about a new project to make funds digital.
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- Solana’s SOL coin is doing really well. It hit $170 recently and has jumped 7% in one day and 40% since the start of May.
- Daniel Choung, a big boss at a digital money fund, thinks SOL will jump over $200 soon because of some cool updates and lots of people playing finance games without banks.
- Solana is about to get a big update with Firedancer to make it work better and faster.
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Solana’s SOL Surges Towards $200, Hedge Fund Co-Founder Projects
Daniel Choung, who helped start Syncracy Capital, a fund that deals with digital money, shared on social media how he thinks SOL’s future looks really good. “The strength and speed of SOL in this comeback are amazing, making it the best trade of this cycle,” Choung said. He also said he’s increasingly sure that SOL could go over $200 by the end of the month and reach new highs soon.
SOL reached its highest point at $260 in November 2021, during the last time the market was doing well. Solana’s SOL coin is doing great for a few reasons. People are trading fun internet coins more, using digital money that stays the same value, and doing finance stuff online without real banks.
Choung says a part of Solana’s rise is due to soon-to-happen network updates and the start of Firedancer, a new part of the system made by Jump Crypto that aims to improve the network.
Also, David Shuttleworth, a research partner at Anagram, talked about how more people are getting into restaking – a key idea in sharing digital money security – as a growing trend in the Solana world.
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