Solana's native token (SOL) touched $170 on Friday, its highest price in more than a month, before recently retreating slightly to $166. It has gained nearly 7% in the past 24 hours and is now up more than 40% from the partial bottom of the cryptocurrency market in early May.
Daniel Choung, co-founder of Syncracy Capital, a digital asset hedge fund, said SOL has been incredibly strong on this rally. It is clear that this is still the best trade of the cycle. Choung said he is increasingly "confident" that SOL can return to the $200 level by the end of the month and reach a new all-time high "very soon". SOL reached an all-time high of $260 in November 2021 at the peak of the last bull cycle.
Syncracy Capital Lianchuang: SOL prices could return to around $200 by the end of the month
2024-05-17 21:32:58
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