Syncracy Capital: Optimistic about SOL coin returning to $200 before the end of the month!

SOL, the native token of the popular public chain Solana, has started to rise again. It once rose to 178.11 US dollars during the midday session today (20th), hitting a high of more than a month, outperforming the vast majority. Most mainstream cryptocurrencies, at the same time, are increasingly optimistic that SOL will break through all-time highs.

CoinGecko market data shows that as of the time of writing, although SOL has fallen back to $177.78, it is still the only currency among the top 10 cryptocurrencies to rise against the trend, with an increase of 28.2% in the past seven days. .

Daniel Cheung, co-founder of digital asset hedge fund Synracy Capital, wrote as early as last week, "SOL has performed strongly in this rebound, which is incredible," and emphasized that in the current market cycle , SOL is still the most potential and valuable investment.

Daniel Cheung said that he is increasingly "confident" that SOL will return to $200 before the end of the month, and is optimistic that SOL will set a new high "soon".

SOL reached an all-time high of $260 in the last bull cycle in November 2021, but Solana was especially hit after the collapse of FTX due to its strong promotion by FTX founder Sam Bankman-Fried (SBF). After experiencing a severe liquidity crunch, currency prices were languishing for a time.

Now with the revitalization of the ecosystem on the Solana chain, ecological meme coins have become popular in the cryptocurrency community, and stablecoin trading volume has grown strongly. Not only has the price of SOL coins continued to rise, it has soared by more than 780% in the past year. , has also continued to attract capital inflows into major DeFi protocols, driving Solana’s total lock-in value (TVL) to exceed US$4.7 billion.

According to DefiLlama data, Solana’s TVL has grown by more than 230% this year. It was only US$1.417 billion on January 1, but has now grown to US$4.767 billion.

Daniel Cheung mentioned that the upcoming Solana network upgrade is paving the way for Firedancer, a new generation node verification client developed by Jump Crypto, aiming to enhance the diversity of node clients and enhance Solana The stability of the blockchain and further improves Solana’s resilience and resistance to attacks.

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