Cathie Wood is Becoming the Elon Musk Of Crypto as Solana Surges By Over 12% After Her Recent Praise

• Cathie Wood is becoming more prominent in the crypto industry. 
• She made the price of Solana increase immediately by more than 12%. 

There was a recent interview with the CEO of Ark Invest, Cathie Wood, from CNBC. During that interview, there was coverage of a lot of issues. So, it was during that interview she praised the Solana token, making the price increase astronomically. 

Cathie Wood Praises Solana Over Ethereum and Bitcoin 

• Cathie Wood is now taking the role of Elon Musk in the crypto industry. So, this role is mainly about talking positively about a cryptocurrency, which causes the price of the token to increase massively in price. So, the same is happening to the Solana token after receiving some praise from the CEO of Ark Invest. 
• During an interview with CNBC, the Ark Invest CEO was in awe of the network’s efficiency and cost-effectiveness. So, she said Solana was a major player in the broader blockchain ecosystem. This comes after commending its performance in recent market conditions. So, she also made a comparison between Solana, Ethereum, and Bitcoin. 
• She said Ethereum is better than Bitcoin in terms of speed. So, in her words, “Ether was faster and cheaper than Bitcoin in the day – that’s how we got Ether.” On the other hand, she said Solana was even faster than Ethereum. “Solana is even faster and more cost-effective than Ether,” she said. 

Solana Token Increases By Over 12% 

Image from Coinmarketcap 

• Immediately after this hype from the CEO of Ark Invest, there was an immediate upsurge in the Solana token. So, the amount of increase for this token was more than 12%. Moreover, this token is doing quite well in the market. 
• The market is currently going through some reiterations in price. So, what this means is that many cryptocurrencies are going through some corrections before another bull run. Still, one can see the unreal growth. So, at the time of writing, there’s already an increase of more than 140% in the monthly charts. After this price correction, there are chances of Solana going head-on into another bullish rally. 

Cathie Wood Warns Against Spot Bitcoin ETF FOMO 

• There were other things to say from Cathie Wood besides Solana, Ethereum, and Bitcoin prices. So, one of her areas of emphasis was the speculations regarding the approval of a spot Bitcoin ETF. She said crypto traders and investors should limit the level of greed and tendency to focus on short-term fluctuations. So, the focus should be on the fundamental importance of Bitcoin as a catalyst for “the money revolution.”
• If traders can do this, it will help maintain a long-term perspective on the transformative potential of cryptocurrencies. So, this is regardless of what is happening in the short term. 

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“This regulatory breakthrough is very important,” says @ARKinvest Founder, CEO and CIO @CathieDWood. “Our expectation is that the crypto ecosystem will be dominated [by Ether and Bitcoin] and it will scale from more than $1 trillion today to $25 trillion in 2030.” pic.twitter.com/yWqwiMA5hV

— Squawk Box (@SquawkCNBC) November 14, 2023

Conclusion 

During an interview with CNBC, Cathie Wood had much to say about the crypto industry. So, one of the interview’s highlights was her admiration for the Solana token. Apparently, this made the price of this token experience an uptrend of more than 12%.

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