Solana analysis: SOL price unlikely to break $150 for now

Bitwise has officially listed Bitcoin, Ether, and Solana exchange-traded products (ETPs) on Nasdaq Stockholm, providing local investors with regulated access to these cryptocurrencies through spot and staking-based products. This move marks a significant expansion of Bitwise's presence in the European market.

Solana's price has surged by 25% from its lowest level in December, coinciding with a significant increase in active addresses on the network, reaching a six-month high. This uptick in user engagement suggests growing interest and activity within the Solana ecosystem.

Solana has publicly criticized Ethereum's Layer 2 solution, Starknet, highlighting a significant disparity between its high valuation and low user activity. This critique raises concerns about the sustainability of such valuations in the cryptocurrency market.

A prominent Bitcoin trader, often referred to as a whale, has reported a remarkable $50 million gain from long positions in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), underscoring the potential for significant profits in the volatile cryptocurrency market.

Upexi has entered into a $36 million agreement with Hivemind Capital to enhance its holdings in Solana, a significant move that could reshape market dynamics and bolster investor confidence in the cryptocurrency. This deal follows Upexi's recent efforts to expand its treasury, which is already among the largest in the Solana ecosystem.