Solana's SOL Could Hit $200 By Month End, Hedge Fund Founder Says
The fifth-largest cryptocurrency is benefitting from multiple catalysts, including bustling meme coin and DeFi activity, upcoming network upgrade and increasing interest in restaking arriving to the ecosystem.
• Solana's SOL hit its highest price in a month Friday outperforming most crypto majors. • The token is "still the best trade this cycle," and could reach $200 by the end of May, Syncracy Capital co-founder said.
Solana's native token (SOL) has been leading the recent rebound in cryptocurrency prices, outperforming most digital asset majors, and could soon target new cycle highs.
SOL hit $170 on Friday, its highest price in more than a month, before slightly retreating to $166 recently. It has advanced nearly 7% over the past 24 hours and is now up more than 40% from the crypto market's local bottom in early May, while BTC sank to $56,000.