A digital assets hedge fund co-founder says Solana (SOL) could hit $200 within two weeks 

24

Daniel Choung showed his full support for the popular Ethereum rival blockchain network Solana (Sol) and predicted that soon it will hit $200. 

Solana is a high-performance blockchain known for its speed and low transaction costs. It uses a unique Proof of History (PoH) mechanism to process up to 65,000 transactions per second, making it popular for decentralised applications and finance.

On 17 May 2024, Daniel Choung, co-founder of digital asset hedge fund Syncracy Capital,  took to X (formerly Twitter) to show his belief in Solana (Sol) Cryptocurrency. 

Choung said Sol is showing strong performance during its current market recovery. He indirectly said that he believes SOL is the best investment opportunity right now and is optimistic that its price will rise back to $200. 

He also refers to the “Frankendancer” upcoming upgrade within the Solana network, which is expected to improve the network’s performance and capabilities, potentially driving SOL’s price to new all-time highs (ATHs).

This is a big fact that the Solana blockchain environment includes several catalytic factors which boost the money inflow for the Solana market e.g. meme coin trading, strong stablecoin volumes and decentralised finance (DeFi) activity.

Solana network & bug

No doubt that the Solana network is the best crypto network to process crypto transactions with a better stability rate but there is also a very bitter reality that the Solana network is not bug-free. 

In the past several years, the crypto community saw how the Solana network struggled badly in the 2022 bear phase along with network outage issues.

Solana Price action 

The current trade price of Solana (Sol) is $173 & this trade price is 20% higher over the last 7 days period. 

A digital assets hedge fund co-founder says Solana (SOL) could hit $200 within two weeks  1

Read also: X & Dogecoin insider confirms X will launch “X payments” later this year