The Solana network (SOL) has made a spectacular rise over the past month, with a gain of almost 200%. The compliments of famous investor Cathie Wood, who sees enormous potential, are driving the price of SOL crypto even higher.
Cathie Wood’s praise boosts Solana’s price
In a November 15 interview with CNBC, Cathie Wood, celebrity investor and CEO of ARK Invest, praised Solana. She described the Solana network as a key player in blockchain infrastructures, highlighting its excellent performance despite a difficult context.
Ms. Wood particularly highlighted the speed and efficiency of Solana compared to the Ethereum network. » Ether was faster and cheaper than Bitcoin at the time, which is how we got Ether. Solana is even faster and more cost-effective than Ether,” she said. asserted.
The fund manager presented Ethereum and Solana as breakthrough innovations, constituting essential infrastructure layers for the development of decentralized applications. They could put blockchain to serve many use cases, beyond the capabilities of Bitcoin.
These laudatory statements had an immediate boosting effect on the price of Solana. At the time of writing this article, SOL is trading around $66, up 20%, significantly outperforming other cryptos. A boom which could continue according to Cathie Wood’s enthusiastic predictions.
Measured optimism on Bitcoin and ETFs
The interview also touched on market anticipation regarding the upcoming approval of several spot Bitcoin ETFs. Cathie Wood points out that the crypto sector nevertheless remains subject to high volatility. Some highly anticipated events, like the upcoming authorization of the Bitcoin Spot ETF, might even disappoint after the fact.
“ It’s important to stay focused on the fundamental importance of Bitcoin as a monetary revolution, and not worry too much about the short-term price possibility“, she recalled.
Thus, despite a possible temporary downturn, the future of Bitcoin and cryptos seems promising according to the famous investor. Innovations such as Solana will play a crucial role in the mass adoption of blockchain.
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