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Solana’s price surged 7% to $185 after Upexi announced the appointment of Arthur Hayes, a prominent figure in the crypto space, to its crypto strategy advisory committee. This significant move has sparked increased trading activity and renewed investor confidence in the cryptocurrency’s upward trajectory.
The market responded positively to the news, with Solana futures open interest soaring 1.97% to $10.18 billion, indicating fresh capital inflows as investors rush into the SOL market. The derivatives volume also saw a substantial increase of 5.46%, reaching $29.2 billion. Furthermore, options open interest rose by 27.88% to $12.81 million, hinting at traders building positions for potential breakout moves.
The recent price action suggests that Solana’s ecosystem is regaining momentum with positive treasury investor news. As a result, the cryptocurrency’s price is now eyeing a crucial resistance level at $189 before potentially breaching it and reaching the psychological barrier of $200, representing a gain of 7.18%.
Arthur Hayes’ appointment to Upexi’s advisory committee brings strategic guidance and industry connections that will aid in expanding the company’s presence in the Solana ecosystem through targeted investments and partnerships.
Source: www.coinspeaker.com
