Solana (Sol) heading toward $150 really? BitMex co-founder dumped SOL investment


Amid this crypto bull sentiment, the majority of the Solana (Sol) Cryptocurrency supporters predicted that the Sol coin will soon hit the $150 level. 

Solana (Sol) is a popular Proof-of-stake (PoS) Cryptocurrency network which is mainly known for its highly scalable blockchain network. In Crypto 2021, Solana coin saw several-fold price increments and also saw a huge downfall in Sep of the same year, as the network went offline because of a bug which occurred because of the high network load, more than its potential barrier.

The current trade price of Sol coin is $96.85 & this trade price is 15.17% higher than the last 24 hours’ trade price. Following the news related to a meeting between the United States Securities and Exchange Commission (SEC) and Bitcoin spot ETF applications, the whole crypto market saw a sudden inflow of money and in this sentiment, Sol coin surged from $85 to $99. 

Solana (Sol) heading toward $150 really? BitMex co-founder dumped SOL investment 1

So here we can say that Sol coin almost hit the $100 target and is heading toward another big price level. 

In the first week of this month, popular crypto entrepreneur & co-founder of BitMex exchange Arthur Hayes predicted Sol coin to hit $100.

As Sol coin almost hit his targeted prediction, he dumped his Sol holdings and shifted his Sol investment into the top second cryptocurrency Ethereum (ETH). 

Following Hayes’s tweet, the majority of the crypto traders cautioned whether to sell Sol coin holding or not because earlier these people were predicting only $100 for this cryptocurrency as the highest trade price, so another big price prediction may be a bull trap.

Solana, challenges, & reward 

Solana blockchain started to struggle badly in Q4 2021 and faced several bug issues in 2 years of timeframe. The Solana network went offline multiple times for multiple hours. 

To fight against all these bugs, Solana  community developers spent a huge amount of time-fighting against bugs. 

The current performance of the Solana network as well as a pump in the Sol coin trade price shows the clear picture that Solala is getting rewarded for the hard work that Solana developers did in the last couple of years.

Read also: A joint conference call between SEC & Bitcoin spot ETF applicants, BTC heads $48k