The mini consolidation of three sessions has ended as the Solana price has resumed its upward journey with Thursday’s breakout, pushing the price to a new all-time high. Whales who bought SOL at an early level are now enjoying multifold returns.
Some SOL whales have exited after a nearly 1,000% increase from lower levels because of better opportunities in the DTX Exchange (DTX). DTX is a new-age trading platform that leverages the power of blockchain and blends it with traditional finance. According to analysts, DTX Exchange can surpass Solana price at the beginning of 2025
Solana Price Achieves New ATH Eyes $300 Next Target
SOL finally broke out of the 2022 high, creating a new all-time high. This breakout in Solana price came after 3 years. At the time of correction, the Solana price dropped below $10 and is now trading above $260. This price increase in the long term is because of the support of whales and smart money in SOL.
Solana’s recent price surge is gaining momentum, fueled by progress in discussions about a SOL ETF. Reports suggest talks between the U.S. Securities and Exchange Commission (SEC) staff and prospective issuers are moving forward. Bitwise’s CEO shared plans on X, joining VanEck, 21Shares, and Canary Capital in preparing to launch these ETFs. This development aligns with a CoinShares survey, which revealed that nearly 20% of fund managers view Solana as having one of the most promising growth outlooks in crypto.
Also, activity across Solana’s ecosystem has been booming, even with some of it driven by memecoins, which has contributed to the increase in the Solana price. Active users have surged by nearly 1,500% since the start of the year, while new daily addresses have grown eleven-fold in the same period. So far this year, the protocol’s net flow has risen by $1.6 billion.
Smart Money Shifting To DTX Exchange As It Prepares For Launch
This week, DTX Exchange’s presale saw an inflow from smart money, mainly whales and institutional investors. This inflow came after the rapid development of the exchange, which indicates the platform’s near launch. DTX Exchange launching on Tier-1 exchanges is huge because the user base from different exchanges will massively trigger the DTX token price.
Generally, investments from smart money in any project indicate a solid foundation and future growth potential, and continued investment of whales in DTX Exchange solidifies its case in the DeFi market.
The main attraction for investors is the DTX Exchange’s hybrid protocol. DTX is the first hybrid exchange to provide features for both centralized and decentralized exchanges. This allows users to trade various assets, such as stocks, crypto, ETFs, etc., in a single unified platform. Users can also benefit from advanced trading features like 1,000x leverage and a distributed liquidity pool.
The DTX token presale has entered the fifth stage with a price of $0.1, and early investors are already sitting at a profit of 400%. However, experts have predicted that this is just the start, and after the launch, the DTX token can cross $15. With the presale selling fast, this is the last opportunity for investors to participate and grab tokens at an undervalued price.
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