Good evening everyone. I hope you are all doing very well. And you're all having a look at the market. Which from yesterday has been quite ecstatic. Bitcoin has reached new highs and many of the famous tokens which closely follow BTC are also riding along. Not obviously comes next and right after ethereum some people will say Solana. And they have good reasons for it. Solana is having a tear right now along with ethereum itself. Previously I talked about if he will and how it is quickly shaping to be a solid number two to BTC and I think Solana is headed towards number three. Within the past four months, maybe three, Solana has had a 35% increase in its price. And I think it will go higher.
There are a few reasons for my confidence. Solana has gone into a partnership with R3, which is a blockchain company. And the company has agreed to bring a lot of networks into the Solana ecosystem. So obviously if that takes place Solana will rise in value. Maple finance has also signed some sort of deal with Solana. Metamask is also a Solana affiliated wallet. Something I've used long ago. Metamask is making some moves which I'll talk about in a different post but those moves will resonate back to Solana. And finally there is the elephant in the room, which is the Solana ETF. The entities which were primarily working on Solana ETF, have amassed a lot of money under their management. And now it is expected that this ETF will be approved soon. After which more people will be able to access and trade in the Solana ecosystem. Which will increase the user base. Finally, Solana is holding on near a resistance level which is in sync with BTC and ethereum. BTC has moved upwards of $120,000 just yesterday. So Solana might follow suit and push for its resistance at $250. If it can surpass that, we could expect movement towards $350 or more.
It will take a lot of momentum and a lot of price action for Solana to truly establish itself as the third biggest crypto because that spot is still being occupied by XRP. But the way things are headed and the way Solana is branching into more industries and making deals with more and more companies, combined with the price action of BTC and ethereum, we can very much expect that Solana might surpass XRP, but that will require a very bullish position.
