Solana Price Holds Above $145 – Why Investors Are Bullish About SOL’s Growth

The cryptocurrency market was quiet over a lot of the past week, with several large-cap assets including Bitcoin (BTC) and Ethereum (ETH) struggling to make any mark. Solana was also among the many top cryptocurrencies that didn’t impress during the last seven-day period.

Nevertheless, the crypto market received a jolt on Friday, October 11, with the worth of Bitcoin reclaiming $62,000 while Solana returned above $140. A outstanding blockchain firm has explained the catalyst behind this recent price surge for the SOL token.

Solana Sees Notable Spike In Crowd Sentiment

In a recent post on X, Santiment revealed the bullish catalyst behind the newest Solana price surge, explaining the way it has caused a notable spike in positive investor sentiment. In line with the blockchain firm, the altcoin experienced a price upswing attributable to loose rumors of Apple constructing on the Solana network.

On Friday, October 11, certain users on the X platform posted a graphic video of Apple with the caption “Buy Solana before Apple publicizes it.” Consequently, several crypto investors have been wondering if there may be a possible partnership between the IT giant and one in every of crypto’s widely-used blockchains.

Apple adopting a blockchain would represent a big interlink between decentralized and centralized technologies. Although there was no solid relationship or hint of a possible partnership between Apple and Solana, the mere idea of collaboration has triggered a wave of bullishness amongst SOL investors.

In line with data from Santiment, Solana witnessed five bullish comments per one bearish comment across social media on Friday. That is the best level of bullish sentiment seen by the altcoin in about three weeks. Comparatively, the investor crowd remained neutral in regards to the two largest cryptocurrencies; Bitcoin and Ethereum.

Source: Santiment/X

This injection of fresh positivity sparked a considerable rally for the fifth-largest cryptocurrency, pushing the SOL price above the $140 level. While this ongoing rumor mill has proven sufficient to push the Solana price within the short term, investors might wish to exercise caution. This is very true considering the market tends to maneuver in the wrong way of the group.

Solana Price At A Glance

As of this writing, the worth of Solana stands at around $145, reflecting an almost 4% increase previously 24 hours. This recent burst of positivity has barely made any significant impact on the weekly performance of the altcoin.

In line with data from CoinGecko, the SOL price is up by about 1% within the last seven days. Nevertheless, the cryptocurrency retains its position because the fifth-largest asset within the sector, with a market capitalization of over $68.2 billion.

Solana

The worth of SOL on the day by day timeframe | Source: SOLUSDT chart on TradingView

Featured image from Dreamstime/Aivaras Sakurovas, chart from TradingView

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