{"id":2450,"date":"2024-02-04T02:12:33","date_gmt":"2024-02-04T02:12:33","guid":{"rendered":"https:\/\/prendergast.net\/?p=2450"},"modified":"2024-02-04T02:12:33","modified_gmt":"2024-02-04T02:12:33","slug":"why-crypto-og-arthur-hayes-foresees-a-phenomenal-solana-sol-rally-after-this-momentous-event","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2450","title":{"rendered":"Why Crypto OG Arthur Hayes Foresees A Phenomenal Solana SOL Rally After This Momentous Event"},"content":{"rendered":"
<\/div>\n

Why Crypto OG Arthur Hayes Foresees A Phenomenal Solana (SOL) Rally After This Momentous Event<\/span><\/h1>\n

By Brenda Ngari<\/a> – February 1, 2024<\/p>\n

<\/p>\n

Arthur Hayes, a billionaire known for founding crypto exchange BitMEX, has delved into a potential epic Solana (SOL) price surge connected to imminent turmoil in the U.S. banking system.<\/p>\n

SOL On Verge Of Bullish Trend Reversal?<\/span><\/h2>\n

Arthur Hayes, the chief investment officer of family office Maelstrom and the ex-CEO of BitMex, expects markets to relive last year’s U.S. banking crisis, which could subsequently trigger a notable resurgence in the price of Solana.<\/p>\n

Hayes indicated that now might be the perfect time to hop back on the Solana train, hinting at explosive growth in the near future.<\/p>\n

Hayes’ bullish sentiment is bolstered by recent happenings in the United States banking sector. As per a recent report<\/a> by Reuters, New York Community Bancorp (NYCB) fell as much as 41% in its share price after investors became skeptical of the firm following a massive dividend reduction. This has prompted fears of a liquidity rug pull event akin to the banking crisis in March 2023.<\/p>\n

<\/a><\/p>\n

Looking at the past, Hayes may be presuming that the U.S. government will likely inject liquidity to prevent another modern-day bank run. He expects that this move will spark a huge rally, specifically in the crypto market.<\/p>\n

Hayes’ previous prediction on Solana, preceding the token’s move past the $100 milestone<\/a>, adds a layer of credibility to his latest forecast. As such, SOL holders are now keenly watching the pundit’s analysis, hoping history repeats itself.<\/p>\n

Solana’s Network Robustness Could Pave Way For A Price Comeback<\/span><\/h2>\n

SOL was trading for $97.56 at press time, a 1.2% gain on the day. The token soared alongside the broader crypto market rebound. At the current price level, SOL remains 62.7% lower than its peak in November 2021. The fifth-largest crypto has been unable to successfully hold above the $100 level despite recording an impressive 83% gain in December.<\/p>\n

A significant source of optimism for SOL’s price performance emanated from the surge in deposits within the network’s decentralized finance (DeFi) sector. Moreover, there has been a notable increase in the activity of the Solana network in terms of transactions and volumes.<\/p>\n

There has also been growing market speculation that a spot Solana exchange-traded fund (ETF) could launch in the U.S. in the future after the approval<\/a> of a spot Bitcoin ETF earlier this month.<\/p>\n

Trillion-dollar asset manager Franklin Templeton further fueled the SOL ETF hype<\/a> after singing the blockchain’s praises for its progress in DeFi, infrastructure, NFTs, and meme coins. The Wall Street giant already offers<\/a> a spot market Bitcoin ETF investment vehicle.<\/p>\n

If Hayes’ prognostication comes to pass, SOL might be primed to test its January highs around $115.<\/p>\n

DISCLAIMER:<\/strong> None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.<\/p>\n

The original article written by Brenda Ngari<\/a> and posted on ZyCrypto.com<\/a>.<\/p>\n

Article reposted on Markethive by Jeffrey Sloe<\/a><\/p>\n

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing<\/a> at Commercial Funding International. **<\/strong><\/p>\n

<\/p>\n

Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"

Why Crypto OG Arthur Hayes Foresees A Phenomenal Solana (SOL) Rally After This Momentous Event By Brenda Ngari – February 1, 2024 Arthur Hayes, a billionaire known for founding crypto exchange BitMEX, has delved into a potential epic Solana (SOL) price surge connected to imminent turmoil in the U.S. banking system. SOL On Verge Of … Continue reading Why Crypto OG Arthur Hayes Foresees A Phenomenal Solana SOL Rally After This Momentous Event<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[78,245],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2450"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2450"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2450\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}