Benjamin Cowen Predicts Solana Could Make a Turnaround like Cardano
Popular cryptocurrency influencer Benjamin Cowen has shared his insights into the trajectory of Solana ($SOL), comparing it to Cardano’s ($ADA) performance in the previous bear market. Cowen pointed out that Solana has followed a pattern of hitting a low, then a high, before revisiting that high again. He believes that Solana’s price could drop to $16.5 or even $11 before making a recovery. Cowen drew parallels to Cardano’s behavior in 2019, where it experienced a significant drop before a subsequent surge. Solana is currently trading at $24.8, with a 6.5% increase in the last 24 hours.
Solana, XRP, and Stellar See Major Inflows in Cryptocurrency Investment Products
CCData’s Digital Asset Management Review report revealed that investment products focusing on Stellar ($XLM), XRP, and Solana ($SOL) saw significant inflows last month. XRP products experienced a 33.2% increase, reaching $65.7 million in assets under management (AUM). SOL-based products had a 55.7% increase, totaling $87.8 million in AUM. Solana also ranked highly in CCData’s ESG Benchmark report, tying with Cardano ($ADA) and following Ethereum ($ETH). The report highlighted the increasing prevalence of Environmental, Social, and Governance (ESG) mandates among institutional investors and forecasted global ESG-related assets under management to reach $33.9 trillion by 2026.
Closing Thoughts: Solana’s Potential Recovery and Institutional Interest in ESG
Benjamin Cowen’s insights suggest that Solana could follow a similar path to Cardano and experience a turnaround in its price. The recent inflows into cryptocurrency investment products focused on Solana, XRP, and Stellar further indicate the growing interest and investment in these altcoins. Additionally, the inclusion of Solana in the ESG Benchmark report highlights its prominence and aligns with the increasing importance of ESG mandates among institutional investors. As the crypto market continues to evolve, it will be interesting to watch Solana’s price and the impact of ESG considerations on investment decisions.
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