NEW YORK – On CNBC’s Squawk Box, ARK Invest’s Cathie Wood highlighted the performance and potential of (SOL) compared to its peers Bitcoin and , citing its speed and cost efficiency as key benefits. Along with his comments, Solana saw a significant rise in its market value, reaching a peak of $63.20 per token. This price marks a notable high for the cryptocurrency, which has not been reached since May 2022.
Wood’s analysis comes at a time when Solana has shown remarkable resilience and recovery in the cryptocurrency market. After suffering a decline following the collapse of the FTX exchange, SOL has seen an impressive rebound. Over the past week, Solana has seen a 46% increase, including an 11.50% increase in a single day.
In addition to discussing the performance of cryptocurrencies, Mr. Wood also announced the launch of five new exchange-traded funds (ETFs) by ARK Invest. These funds are designed to provide investors with exposure to bitcoin and ethereum futures, as well as a range of bitcoin-related companies and stocks.
The positive outlook from such a prominent figure in the investment community and the introduction of new investment vehicles have helped to strengthen investor confidence in cryptocurrencies such as Solana. Today, Solana is trading at $63.20 on Binance, demonstrating a strong recovery from its mid-October low and highlighting the dynamic nature of the cryptocurrency market.
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