Arthur, the founder of DeFiance Capital, has expressed strong confidence in Solana (SOL), revealing that he recently acquired the token through an over-the-counter (OTC) transaction at a price of $64. These purchases came at a time when Solana’s price reflected a rise of 5%.
Arthur’s Big Bet on SOL
According to his statement, he purchased SOL at $64 through Galaxy Digital and has now received the unlocked tokens. While many investors often sell their holdings once tokens are unlocked, Arthur has taken a different approach by choosing to hold.
Despite the price fluctuations in the crypto market, Arthur has made it clear that he is holding onto his SOL tokens, believing that their value will increase significantly in the next three months.
The crypto market has seen increased volatility, but Arthur’s optimism suggests that he expects a strong recovery and possible price rally for SOL.
Solana Will Surge In 3 Months
Arthur’s bullish stance is backed by several factors. However, the key reason could be the recent institutional interest in Solana. With large players like Galaxy Digital facilitating OTC transactions, it shows that institutional investors are also recognizing SOL’s potential.
If this trend continues, Solana could see increased demand, pushing its price higher.
Additionally, the network has been strengthening its position in the decentralized finance (DeFi) and NFT spaces, attracting more users and investments.
Solana Price Analysis
Solana has faced a tough week, dropping 20% in value. However, it has since recovered most of its losses, and many now believe it could break the $150 resistance. Currently, Solana is trading around $141, showing a 4.3% increase, with its market cap reaching $71.5 billion.
The main reason for this decline is the expected release of 11.2 million SOL tokens in March, belonging to the bankrupt FTX exchange. Investors worry that a sudden flood of these tokens could drive prices even lower.
Earlier, 41 million SOL tokens were given to firms like Galaxy Digital and Pantera Capital to help FTX repay creditors. Meanwhile, Solana’s futures open interest has fallen sharply from $7.4 billion to $3.7 billion, signaling growing uncertainty among traders.
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