Former BitMEX CEO Arthur Hayes recently highlighted Solana’s recovery and growth potential in the cryptocurrency market following the fall and corruption of FTX.
In the wake of the FTX collapse and the ensuing legal battle, many have speculated about the fate of Solana (SOL), the cryptocurrency once favored by its now-convicted founder Sam Bankman-Fried. Contrary to speculation, Hayes recently took notice of Solana, indicating a positive trajectory for the network.
Known for his expertise and experience navigating the ups and downs of the cryptocurrency market, Hayes posted his optimism about Solana on X, suggesting that now might be the time to invest in SOL.
The former BitMEX CEO, who has a background in market forecasting, shared insights into his investment strategy in a recent essay. He discussed the potential decline in Bitcoin (BTC) and the decision to sell some tokens to mitigate losses, including the Solana and Bonk token sales. Hayes plans to invest heavily in Solana and other altcoins if the Bitcoin price falls below $35,000, indicating his belief in Solana’s potential recovery and growth.
Solana’s market performance has been a roller coaster, with its price fluctuating wildly. Solana experienced a surge in late 2023 followed by a correction in early 2024, but has shown resilience and maintained its price, indicative of investor confidence.
with hayes previous comment He’s also optimistic, and his words about rising prices potentially mean better days are ahead for the Solana market.