Solana ($SOL) has shown impressive momentum in recent weeks, breaking through key resistance levels and earning positive forecasts from analysts.
Current Price Dynamics of Solana
The current price of Solana is trading above $170, with the market closely watching for a continuation of the bullish trend. Technical analysis suggests that the wave (2) correction is complete, and the market is now entering wave (3) of the Elliott Wave cycle.
Mike Novogratz's Endorsement
Mike Novogratz, CEO of Galaxy Digital, has strongly endorsed Solana, describing it as a blockchain ideally suited for global financial markets. He emphasized Solana's ability to manage high transaction volumes, highlighting its speed and suitability for the financial sector. According to him, Solana processes 14 billion daily transactions, surpassing traditional financial assets.
Galaxy Digital's Purchases
Galaxy Digital has been aggressively increasing its Solana holdings. Recent reports indicate that the firm acquired 430,000 SOL in just one hour, valued at approximately $97 million. In total, Galaxy Digital has accumulated 1.35 million SOL over 12 hours, amounting to $302 million.
Solana's position in the market continues to strengthen, driven by positive forecasts and support from notable figures in the financial sector, including Galaxy Digital and Mike Novogratz.
