Understand why SOL has risen independently from the big cake! It turns out there is such a strong report!
GSR bullish SOL report: It will rise 9 times to $1,320 in a bull market
On June 28, according to a report released by cryptocurrency market maker GSR Markets, GSR holds a long position in SOL. The hypothetical situation proposed in the report is:
In a bull market, the spot Solana ETF will absorb 14% of all fund flows of the spot Bitcoin ETF since its launch in January, and the price of SOL will rise from the current $149 to more than $1,320, while Solana's market value will increase to $614 billion.
In a bear market and base case, the spot Solana ETF will occupy 2% and 5% of the fund flows that attract Bitcoin ETFs, which will trigger Solana's price to rise by 1.4 times and 3.4 times, respectively.
The company said that if the spot Solana ETF includes staking reward income, these valuations may be higher.