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Solana (SOL) Returns to $100 on Krafton Partnership
Abstract：Solana‘s new deal with Krafton drove demand on Thursday. Avoiding the day’s pivot would give the bulls a run at $110 levels later today.
Key Insights:
Solana (SOL) rallied by 7.90% to end Thursday at $102.39.
News of a new deal with PUBG developer Krafton delivered price support.
Technical indicators are bullish, supporting a run at $120 levels.
Solana (SOL) was amongst the front runners on Thursday. Following a 4.89% rally on Wednesday, SOL jumped by 7.90% to end the day at $102.39.
News of a Solana ETP and a new Solana-Krafton deal delivered the upside. Broader crypto market sentiment was also SOL positive.
Krafton Deal with Solana Labs Drives Demand for SOL
Mid-week, news hit the wires of Krafton striking a strategic deal with Solana Labs. Krafton is a billion-dollar gaming developer behind PlayerUnknowns Battlegrounds (PUBG).
Krafton will reportedly collaborate with Solana to build games on blockchain technology to establish a Web3 ecosystem.
This week, there was also news of CoinShares and FTX launching a ‘physically-backed Solana exchange-traded product (ETP).’ The Solana ETP will launch with 1 million SOL in seed capital, with the ETP offering investors 3% staking rewards and reduced management fees.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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