Former BitMEX CEO Arthur Hayes recently highlighted Solana’s potential for recovery and growth in the crypto market after the FTX downfall and corruption.
After the conclusion of the FTX collapse and the legal battles that ensued, many speculated about the fate of Solana (SOL), a cryptocurrency once favored by the now-convicted founder Sam Bankman-Fried. Contrary to speculations, Hayes has recently spotlighted Solana, indicating a positive trajectory for the network.
Known for his expertise and experience in navigating the crypto market’s ups and downs, Hayes posted his optimism for Solana to X, suggesting it might be time to invest in SOL.
The former BitMEX CEO, with a track record of making market predictions, also shared insights into his investment strategy in a recent essay. He discussed a potential downturn for Bitcoin (BTC) and his decision to sell some tokens to mitigate losses, including sales of Solana and Bonk tokens. Hayes plans to invest heavily in Solana and other altcoins if Bitcoin’s price falls below $35,000, indicating his belief in Solana’s potential recovery and growth.
Solana’s market performance has been a rollercoaster, with significant fluctuations in its price. After a bullish surge in late 2023, Solana experienced a correction in early 2024 but has shown resilience, maintaining a price indicative of investor confidence.
With Hayes’ previous comments also being bullish, followed by a rise in price, his words potentially mean better days to come in the market for Solana.