Crypto investor Arthur Cheong is betting big on Solana. He’s holding onto his SOL tokens, predicting a significant price jump in the next few months.
Holding onto Solana
Cheong, head of DeFiance Capital, recently received unlocked SOL tokens from a deal with Galaxy Digital. Despite already making a profit (he bought at $64), he’s not selling. His prediction? A substantially higher price within three months.
Bullish on Solana’s Ecosystem
Cheong isn’t just bullish on SOL itself. He’s also high on the Solana ecosystem, particularly Jupiter (JUP), a decentralized exchange aggregator. He believes the upcoming CME Group Solana futures contracts (launching March 17th) could trigger a short squeeze, further boosting the price. A short squeeze happens when a price surge forces traders who bet against the asset to buy it back, creating even more upward pressure.
Market Outlook and Liquidity
Cheong acknowledges the recent market correction, with many cryptos dropping over 40% in just two months. However, he points to a significant increase in stablecoin supply—nearly $100 billion since 2024—as a sign of potential future liquidity. He believes this, combined with renewed investor enthusiasm, could fuel a substantial market rally. He describes the current situation as a period of low liquidity following a recent surge related to political events, but anticipates a return to higher market activity.
Disclaimer: This is not financial advice. Always do your own research before investing in cryptocurrencies.
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