A closely watched crypto analyst believes that smart contract platform Solana (SOL) is gearing up for a strong bull market.
Pseudonymous analyst Inmortal tells his 199,100 followers on social media platform
“This is a generational SOL long.
The take profit is $250.”
According to the crypto strategist, those are accumulate SOL will now likely be rewarded in the coming years.
“In two years you will realize that everything was as simple as buying SOL under $20 and waiting.
But you were too scared because FTX was going to dump their coins.”
Last month, court documents revealed that FTX owns $1.16 billion worth of SOL, leading many traders to believe that Solana will likely see lower prices as the bankrupt crypto exchange liquidates its assets.
However, investor Chris Burniske pointed out that only a fraction of FTX’s SOL positions are liquid.
“Only ~13% of FTX’s SOL positions are liquid… Keep cool, folks.”
At the time of writing, SOL is trading at $24.54, up over 14% in the last 24 hours.
Inmortal notes that Solana’s latest rally is a harbinger of how SOL is likely to develop in the coming years.
“This increase is just an example of how SOL will develop in the coming years. The most hated rally ever.”
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Generated image: Midjourney