Arthur Hayes Confident in Solana's Stability and Expects Continued Growth
Date: 2024-01-10 Author: Dima Zakharov Categories: BUSINESS
In the world of cryptocurrency, Arthur Hayes, a prominent figure known for his involvement in BitMEX and MaelstromFund, has expressed his unwavering confidence in Solana's potential. He points to the cryptocurrency's remarkable stability, especially its swift rebound above the $100 mark following a brief correction. Based on this, Hayes predicts a promising future for Solana, with an expectation of its ongoing bullish trajectory.
Hayes' positive sentiment is echoed by crypto analysts Ali Martinez and Rekt Capital, who identify key resistance levels as critical indicators of a significant uptrend. Ali Martinez highlights the formation of a bullish flag pattern at $110 as a pivotal resistance level, suggesting that its breakthrough could propel SOL towards an ambitious target of $163.
According to CoinStats, the Solana market is witnessing a resurgence of bullish sentiment, with SOL recording a 5.7% daily gain, reaching $100.61.
However, a different perspective emerges from CoinShares' report, indicating a withdrawal of $5.3 million from Solana-based products. This contrasts sharply with the $113 million inflow into Bitcoin. Notably, 55% of these funds came from U.S. exchanges, likely driven by anticipation surrounding the U.S. regulator's decision on spot Bitcoin ETFs.
