Greyscale's ad is based on the Solana Trust and offers a SOL target price of $ 300.

On November 30, Grayscale Investment Company, the world's largest cryptocurrency investor, announced the addition of SOL to its stock market.

“Our digital heritage has grown and we are expanding our offers! With the new gray #Solana Trust, we risk being affected by the @Solana Network SOL token. ""

-Gray levels (@Grey levels) November 30, 2021

Target price of $ 300?

SOL rebounded to nearly $ 217.50 after receiving more than 6.50% during the session. As shown in the chart below from November 28, SOL has reversed more than 20% when testing the multi-month uptrendline as support (close to $ 190).

Recent buying near trendline support also helped the SOL cross the 23.6 Fibonacci line (around $ 204) on the Fibonacci retracement chart. The $ 260 price tag appears to be the last line of defense between SOL and the New Mindset.

Independent market analyst @fomocapdao added, "SOL appears to be showing signs of weakness (this season), but it could still hit $ 300."

“It depends on the whole ecosystem: TVL, NFT, Tabasco, the information industry.

Solana "to enjoy"

Grayscale decided to add Solana to its product line, promising to bring SOL to more high-end and commercial businesses.

This is largely because the Solara blockchain project generated the best growth in 2021. After providing users with one of the cheapest and fastest public offerings, the one muscle contract is starting to gain popularity as the competitors of Ethereum, which is also a good deal. .

Solana's ecosystem has attracted over 500 jobs across multiple sites, including Fair Distribution (DeFi), Non-Homogeneous Tokens (NFT), and Web 3.0, and the network has 1.2 million frequently used users. Among them, Serum is an FTX-sponsored exchange program between billionaire Sam Bankman-Fried and Alamada Research.

As a result, the price of SOL, which is used as a token price and token contract in the Solana ecosystem, increased by more than 10,700% from the previous year, and the value of the second company in November was raised to $ 77.93 billion. .

Currently, Solana is worth over $ 70 billion and remains the 4th blockchain in terms of market value. Grayscale CEO Michael Sonnenshein stressed that investors have seen "continued interest" in acquiring the SOL risk risk.

The announcement comes after London-based financial management firm Coinshares announced profits of more than $ 250 million on the SOL-based stock market (ETP). Coinshares reported in a Nov. 29 report that Solana ETP had raised $ 42.2 million this month alone.

Although some say SOL will hit $ 300 in the next round, the token still faces downside risk due to a number of issues including making the most of long-term charts and may affect the network.