Solana Price Jumps 7% to $185 Following Arthur Hayes Appointment
On August 12, Solana price surged 7% to $185, marking its highest single-day gain since July 12. This uptick followed a significant announcement from Upexi, a major investor in Solana's treasury.
Key points:
- Upexi appointed Arthur Hayes, co-founder of BitMEX, to its crypto strategy advisory committee.
- Upexi holds 1.9 million SOL tokens and aims to enhance its leadership in Solana treasury management.
- Hayes’s involvement is expected to drive strategic growth through partnerships and investments in the Solana ecosystem.
- Solana futures open interest rose 1.97% to $10.18 billion, indicating fresh capital inflows.
- Derivatives volume increased by 5.46% to $29.2 billion, with options open interest up 27.88% to $12.81 million.
Technically, Solana is testing resistance at $189 after reclaiming a moving average near $175. A daily close above this level could signal a breakout towards $200. Conversely, a drop below $175 would invalidate the bullish outlook.
In related news, Bitcoin's Layer 2 sector is gaining traction with the BTC Hyper presale raising $5.46 million, offering low-cost transactions and high staking rewards.