“SOL IS The “MOST OBVIUS LONG RIGHT NOW,” FUELED by UP to $ 2.6 Billion Demand from Crypto Vehicles in the Next MONTH, Arca cio Jeff doorman Said.”, – WRITE: www.coindesk.com
The Token Traded AROUND $ 211 ON MONDAY, UP 33% from Early August Lows, Making IT One of the Best Performers in the Coindesk 20 Index in the Past Month. Against Bitcoin, Sol Has Gained 34% Over The Past MONTH, AND IT HAS STREEGThened 14% Versus ethsus Mid-August.
The Rally Reflects a Broader Rotration Into Altcoins, Analysts Said.
“The Season of Profit Redistribution Among Holders of Cryptocurrencies Continues,” Sergei Gorev, Head of Risk at Youhodler, Said in a Market Note Shared With Coindesk. He Said Liquidity Has Been Moving Out of Btc Into Second-Ter TKENS, WITH “A NOTICEABLE INCREASE IN THE POSITIVE DYNAMICS IN CAPITAL FLOWS TO SOL.”
Such Flows Could Be Long-Term As Corporate Investors Look for Large, Liquid Projects to Hold, Gorev Added, Naming Sol Alongside with Xrp Xrp$ 2.7757 as the “Next Interesting Market Ideas.”
Jeff Dorman, Chief Investment Officer at Arca, Tipped Sol to Replicate Ether’s Turnaround Earlier this Year. He Pointed to Ethereum’s Resurgence After StableCoin Adoptation, Strong etf Inflows and the Releentless Bid from Digital Asset Treasuries, Or Dats, Helped Eth Rally Nearly 200% Since
“Sol Appears Poured to Repeat the Exact Same Playbook that eth just executed in the coming months,” Dorman Wrote in a Fresh Report.
The FIRST US-LISTED SOLANA ETF LAUNCHED IN JULY, BUT IT WAS FUTures-Based. Several Asset Managers, Including Vaneck and Fidelity, Have Filed for Spot Products with Decisions Due Later This Year, Dorman Said.
Meanwhile, at Least Three Solana-Focused Dats Are Raising Funds that Could Channel Up to $ 2.65 Billion Into Sol Over The Next Month, He Aded.
Solana-Focused Digital Asset Treasuries Announced (Arca)
At only one-fift of eth’s market capitalization, Sol’s price could be even More Reactive to the Flows if they materialize.
“SOL MIGHT BE The MOST OBVIUS LONG RIGHT NOW,” DORMAN SAID. “If the price of eths rose almost 200% on roughly $ 20 Billion of New Demand, What do You Think Happens to Sol on $ 2.5 Billion or More of New Demand?”
Recent News Could Also Add to the Momentum. NASDAQ-Lited Digital Asset Conglomerate Galaxy Digital Tokenized Its Shares on Solana, While The Approval of the Alpenglow Upgrade Program to Improve Transaction Spain.
Read More: Trump, Xrp, and Sol Options Signal A Potential Year-End Altcoin Season: Powertrade
South Korea’s Largest Exchange Pauses Operations As Stellar Prepares for a Major Network Overhaul, With XLM Price Action Showing Resistance at $ 0.37.
- Upbit Suspended XLM Trading as Stellar’s Protocol 23 Upgrade Began on Sept. 3, Aiming to safeguard Stability Durying the Network Overhaul.
- XLM Price Consolidated Between $ 0.36 and $ 0.37, with Repeated But Unsuccessful Attempts to Sustain Gains Above Resistance.
- Traders Eye $ 0.45 Resistance and $ 0.30– $ 0.32 Support As Key Levels to Watch Following the Upgrade’s Rollut.
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