It has been just reported that we can expect to see massive price moves from Solana. So, keep on ready and get ready to accumulate SOL.
Solana price to head to the moon
A well-respected crypto analyst going by the name “Inmortal” believes that Solana (SOL), a smart contract platform, is set for a strong bull market.
In a recent social media post, Inmortal advised his 199,100 followers that now is the perfect opportunity for long-term bulls to accumulate the crypto asset.
He went on to suggest that this is a “generational SOL long” and that investors should aim to take profits at $250. According to Inmortal, those who invest in SOL now are likely to be rewarded in the years to come.
He predicts that in two years’ time, people will realize that buying SOL for under $20 and waiting was a simple yet effective investment strategy, despite concerns that FTX would dump their coins.
Recently, it was revealed in court documents that FTX has $1.16 billion worth of SOL, which has led some traders to believe that if the crypto exchange goes bankrupt and liquidates its holdings, Solana’s prices will drop.
However, investor Chris Burniske has pointed out that only a small portion of FTX’s SOL holdings are available for immediate sale.
In fact, only about 13% of their SOL holdings are liquid. So, it’s important to stay calm and not overreact.
As of writing this, SOL is currently trading at $24.54, which is up by more than 14% in the last 24 hours.
Inmortal believes that this rally is an indication of how SOL will move over the next few years, and it may be the start of a trend that lasts for a while. They’ve even called it “the most hated rally ever.”
Stay tuned for more news from the crypto space and make sure to check out the market as well.
