Cathie Wood Opens Up, Solana Skyrockets $68!

<p>&nbsp;"It is true that the price of SOL has now gone back down, but maybe this is a sign that it will rise again?"</p><p><br /></p><p>Solana (SOL) managed to show a remarkable rise when the price reached the level of $68 after Cathie Wood who is the Chief Executive Officer (CEO) of Ark Invest showed her strong support for the cryptocurrency.</p><p><br /></p><p>During an interview with "Squawk Box" last Tuesday, Wood, who praised the SOL blockchain protocol, said that the digital asset is faster and more cost-effective than Ethereum (ETH).</p><p><br /></p><p>But it should be known that this is not the first time that Wood has praised SOL, his previous follow-up on November 1, 2023 has not only highlighted its efficiency but also believes that the digital asset is capable of surpassing ETH.</p><p><br /></p><p><br /></p><p>There's no denying Wood has long been a big fan of BTC and the broader crypto market, but he's often voiced his frustration with the regulatory environment in the United States.</p><p><br /></p><p>The CEO of Ark Invest has criticized the SEC's late follow-up in approving spot BTC ETFs, but at the same time defended Bitcoin's (BTC) decentralized nature and transparency against market manipulation.</p><p><br /></p><p>Despite the regulatory hurdles, Wood remains optimistic about the future of crypto where he believes the crypto market could grow to $25 trillion by 2030 due to increasing institutional acceptance.</p><p><br /></p><p>As of this writing, SOL price plunged by 10.25% to $59.32 in the last 24 hours with a market cap of $3 billion but still recorded a gain of over 28.63% over the last week.</p>