The price of cryptocurrency Solana continues to rise, bringing significant changes to the market. A major reason for this is Ford's recent investment, which increases institutional investors' interest.
Solana's Price Surge
Solana's price has risen to $239.50, breaking through the $229 resistance level and demonstrating a bullish trend in the market. The ultimate price target could reach $263 and $320 according to technical indicators.
Ford's Investment Impact
Ford's $1.65 billion investment in Solana's treasury has attracted widespread attention from institutional investors. In collaboration with Galaxy Digital, the company acquired over 2.1 million SOL tokens in a single day. This increased Solana's trading volume by 27%, pushing it beyond $11 billion.
Fundamental Growth Drivers for Solana
The rising price of Solana is supported by strong fundamental data, with the total value locked (TVL) in Solana-based DeFi platforms exceeding $17 billion. This indicates a growing adoption of Solana as a reliable blockchain platform.
The growing interest from institutional investors and strong fundamental indicators position Solana for further growth. Ford's breakthrough investments underline the confidence in its potential.
