The bullish expectation for Solana (SOL), which was on the verge of extinction after the bankruptcy of FTX in 2022 but was reborn with a major breakthrough, still continues.
While four-figure figures are being discussed for SOL at this point, Bitwise CIO Matt Hougan spoke about Solana.
Matt Hougan said that Solana is in a unique position to become the new Wall Street of the cryptocurrency world.
Speaking recently on the YouTube channel Altcoin Daily, Hougan stated that Solana follows the same growth model as Bitcoin and Ethereum.
Bitwise CIO reminded that following spot ETF approvals, Bitcoin and Etheruem gained upward momentum and their prices started to rise.
On this point, Hougan noted that multiple spot ETFs focused on Solana could launch next month.
According to Hougan, once the spot Solana ETFs are approved, the SOL price may rise like BTC and ETH.
Hougan noted that Solana acknowledged and considered its relatively small market capitalization compared to Bitcoin and Ethereum, arguing that even modest inflows could have a major impact on SOL’s price.
Apart from spot ETFs, the Bitwise CIO also highlighted Solana’s upcoming Alpenglow upgrade, which aims to provide 100-150 millisecond transaction finality, and the growing interest in tokenization initiatives as key catalysts that could trigger SOL’s rise.
*This is not investment advice.