Mike Novogratz believes that over the past year, the Solana cryptocurrency has shown the most impressive results. At the end of 2023, SOL was trading around $21, but by March 2024, the coin exceeded $200, showing an increase of more than 850%.

Now SOL closes the top five cryptocurrencies leading by market capitalization. Given Solana's current position, Novogratz is confident that the altcoin has a good chance of being included in a potential spot ETF.

In response to Novogratz, a crypto enthusiast under the nickname Digital Asset Investor suggested that the increase in the SOL rate was due to the collapse of the FTX crypto exchange in the fall of 2022 and “too many connections with the authorities.”

Two important things in this clip: 1. Basically an admission that the Solana pump has all been because of FTX. They had to pump it. Too many bodies buried/government ties there. 2. He just can't bring himself to say XRP It's not a coincidence that all the usual suspects are… pic.twitter (NYSE:TWTR).com/eBimzFtTrB

— Digital Asset Investor (@digitalassetbuy) June 2, 2024