Solana's $SOL Surges 38% Amid Bullish Pattern, Stock Tokenization Push

Solana has shown strong technical indicators and ecosystem support, making it a promising investment opportunity. A popular chart analyst highlighted a bullish cup and handle pattern on the monthly $SOL chart, which has been forming since November 2022. This pattern, taking almost 2.5 years to develop, is a strong bullish indication. Additionally, $SOL has risen around 38% since the second week of April, demonstrating good upward momentum.

There has been a significant push towards stock tokenization on the Solana blockchain. The Solana Policy Institute submitted a proposal called ‘Project Open’ to the SEC, seeking approval to issue tradable tokens for stocks. Larry Fink, blackrock CEO, has backed this idea, believing it can revolutionize financial markets by making transactions faster and pumping billions back into the markets almost instantly. Furthermore, a Solana exchange-traded fund (ETF) looks likely in the near future, with a 90% chance of approval in 2025. The Solana stablecoin supply has also reached an all-time high, further opening up new possibilities in the Web3 and DeFi space.

Solaxy ($SOLX) is highlighted as the best crypto to buy now on Solana. It aims to build the first Layer 2 scaling protocol on Solana, offloading some transactions onto a sidechain to reduce the burden on Solana’s mainnet and speed up the entire blockchain. This could potentially surge 11,600% and reach $0.20 by 2030. Currently, one $SOLX costs $0.001714, as the token is in presale and has raised $33M.

Bonk ($BONK) is another promising investment, being the biggest dog-themed meme coin on Solana with over $1.5B in market capitalization. Its chart suggests support at the $0.000016 level, and it has already risen over 50% in the last month. With a low price of $0.0000161, $BONK is considered one of the best cheap cryptos to buy now.

Fartcoin ($FARTCOIN) is a community-driven crypto that rewards token holders for submitting hilarious fart jokes and has an uncanny ‘Gas Fee’ mechanism that emits a fart sound with each transaction. It has jumped over 145% in the last month and is expected to continue its climb once it breaks through the $1.20 resistance level. Currently, it can be bought for $1.09.

Ask Aime: "Is Solana (SOL) a good investment with its bullish cup and handle pattern and potential for stock tokenization?"

While $SOL’s upcoming upward momentum can drag the best altcoins on its network along with it, the market’s volatility means there are no guarantees in crypto. It is recommended to invest only an amount that is small enough for you and to do your own research before investing. This article is not financial advice.