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Cathie Wood's Bullish View on Solana. 🤯👀✍️
Cathie Wood, the CEO of ARK Invest, has been making headlines with her bullish stance on Solana, praising the blockchain protocol for its recent surge in efficiency and cost-effectiveness.
Why Solana?
Wood emphasizes Solana's speed and cost-effectiveness compared to Ethereum, drawing parallels to Ethereum's historical advantages over Bitcoin. She notes that Solana's performance has led to a significant price rally, with the SOL token experiencing a remarkable 200% monthly rise and setting eyes on a $100 target.
Recent Price Movement:
Following Wood's comments, Solana witnessed a 15% increase in a single day, and the SOL token gained an additional $10 since Tuesday, currently trading at $62 according to CoinGecko.
Consistent Support:
This isn't the first time Cathie Wood has expressed optimism about Solana. Her previous comments on November 1 highlighted Solana's efficiency and its potential to outpace Ethereum in terms of both speed and cost-effectiveness.
Cathie Wood's Crypto Perspective:
While Wood has long been a fan of Bitcoin and the broader cryptocurrency market, she has voiced frustration with the U.S. regulatory environment, particularly critiquing the SEC for its delay in approving a Bitcoin ETF. Despite regulatory hurdles, Wood remains optimistic about the future of cryptocurrencies, projecting a market growth to $25 trillion by 2030, driven by institutional adoption.
