Solana, once again, stands out as a queen of the Altcoin, detaching the group with a weekly performance of about +20% and fueling expectations of further rise.
Overcoming the $ 170 for the first time in a month, Sol positions -40% at the minimum of early May, a period in which Bitcoin collapsed about 56 thousand dollars. From that moment, Solana has recorded one of the best performances among the Altcoin Top 50, second only in Chainlink, driven by strategic partnerships with important funds.
The optimism on Sol is not limited only to small investors and Memecoin enthusiasts, but also conquers institutions. Among these stands out the Hedge Fund Sincracy Capital, whose founder Daniel Choung recently expressed great confidence in the token. "Sol's strength in this market period was incredible," he told Coindesk. "I am confident that it will return above 200 dollars by the end of May, and then aim for new historic highs".
The previous ATH of Sol, recorded in November 2021 during the previous Bull Market, was 260 dollars. After a Post Ftx collapse that brought the price below $ 10, the recovery has started in the last year, powered by new catalysts.
The growth of the ecosystem is mainly driven by the Memecoin sector, by the increase in volumes relating to Stablecoin and the expansion of the Defi activity.
In addition, important network updates are planned, starting from FiD nineteen, to improve the performance of the blockchain.
Solid data and growing optimism, fueled by a strong interest by investors of different profiles, place Solana in an interesting position for the short term, with the concrete possibility of reaching new goals.
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