It’s been reported that amidst the bullish moves in the crypto market, there are two altcoins that are now expecting monster bulls.
Solana and Terra are expecting massive price surges
It’s been just revealed that a closely followed crypto strategist and trader is predicting these rallies.
The analyst known in the industry as Kaleo said that Ethereum competitor Solana (SOL) has broken out from its downtrend and is now in the early stages of a huge rally.
“SOL playing out exactly as planned so far.”
According to his chart, SOL can surge to as high as $300, marking potential gains of nearly 80% from its current value of $168.
He is also looking at the decentralized finance (DeFi) payment network Terra.
According to Kaleo, Terra is flashing signs of strength against Bitcoin (LUNA/BTC) after breaking out from a falling wedge structure – this is a bullish continuation pattern.
“LUNA/BTC. Prepare to commence full send.”
Grayscale invests in Solana and Uniswap
It’s been just revealed that Grayscale has issued its quarterly rebalancing of funds for its Digital Large Cap Fund and its DeFi Fund.
The process includes reducing these funds’ portfolios in LTC and BTC to free up capital that has since been invested heavily in Solana (SOL) and Uniswap (UNI).
This is the first time Grayscale Investment includes Solana in its products. As a result, SOL and UNI now account for 3.24 percent and 1.06 percent of the funds, respectively.
The announcement also follows Grayscale’s note in July 2021 that it would adjust the portfolio of its Digital Large Cap Fund to include Cardano (ADA).
Not too long ago, we revealed that Grayscale’s Bitcoin fund brought in $32 billion on September 6th, 2021 alone, prompting the company’s total Assets Under Management (AUM) to $46.8 billion.
This figure is up from $41.6 billion in mid-August, implying a $5.2 billion increase in AUM value in less than a month.