Solana (SOL) has recorded gains as wider crypto assets recover with bulls projecting longer price highs in the coming months.
Bulls Tip High Solana Performance
Solana’s bulls have maintained a strong stance on the asset’s growth this year. Recent highs come in the back of certain factors including increased institutional sentiments and on-chain activities.
A Solana whale acquired $38 million worth of SOL today. According to data from Whale Alert, the address acquired 267,077 SOL sparking new optimism around the asset. This comes after renewed interest by institutional investors in the market.
Another reason for bulls tipping a sustained performance in the price of SOL is the upward trajectory of the asset after the Federal Open Market Committee (FOMC) meeting that left interest rates unchanged. Similarly, the announcement of the Solana-Bitcoin bridge for Q3 2024 is another factor that spiked the asset’s price.
The news of Jito Labs reportedly developing a restaking tool for the asset also helped the price growth. Last year, the asset was dubbed an institutional investor favorite after consecutive weeks of inflows. 
