Solana price eyes $300 as Grayscale launches SOL-backed trust

Solana price eyes $300 as Grayscale launches SOL-backed trust

Solana (SOL) held onto its intraday gains on Nov. 30 as Grayscale Investments, the largest cryptocurrency fund in the world, announced that it would add SOL to its product line.

SOL rallied to nearly $217.50 after rising by over 6.50% intraday. The Solana token\’s gains came primarily as a part of a recovery move that started Nov. 28, wherein it rebounded over 20% upon testing a dependable multi-month ascending trendline as support (near $190), as shown in the chart below.

SOL/USDT daily price chart featuring Ascending Trendline support. Source: TradingView
Solana blockchain performance versus others. Source: Reddit
SOL circulating market capitalization. Source: Messari

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