Crypto investor Arthur Cheong says he will probably be holding on to his Solana (SOL) tokens in anticipation of its worth being a lot greater within the coming months.
Cheong, the founding father of the crypto funding agency DeFiance Capital, says in a publish on the social media platform X that he participated in an over-the-counter (OTC) SOL deal via Galaxy Digital and has collected his unlocked tokens.
Although he’s already up considerably after buying at $64, Cheong says he’ll wait to promote his SOL stack.
“Not promoting a single one in every of them.
I believe it will likely be considerably greater in three months.”
The investor can be bullish on the Solana ecosystem, particularly Jupiter (JUP), a decentralized alternate (DEX) aggregator that at present has the second-highest whole worth locked (TVL) on Solana after the re-staking protocol Jito (JTO), in keeping with DefiLlama.
Now that the CME Group has introduced that it will likely be rolling out two Solana-based futures contract choices on March seventeenth, Cheong says {that a} quick squeeze might ensue for SOL.
A brief squeeze happens when a pointy rise within the worth of an asset forces merchants who had beforehand offered quick to shut their positions, fueling extra rallies.
In line with Cheong, the crypto market cycle remains to be not over, however might have to undergo a repricing following the “Trump honeymoon.”
“It appears like there’s a extreme lack and outflow of liquidity out there these days as many crypto except for BTC have corrected >40% in lower than two months.
Nevertheless, the stablecoin provide has expanded dramatically since 2024, rising by almost $100 billion to succeed in a complete provide of $221 billion, now representing over 1% of the US Greenback M2 Cash Provide…
That mentioned when the animal spirits come again as they all the time do, I believe we’ve got the liquidity and capital in place to push the market considerably greater.”
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