GSR brazenly pumps Solana alongside VanEck and 21Shares
On June 27, purported market-maker GSR published a hyper-bullish report on Solana (SOL), claiming that its price could increase by over 900%. Its analysts’ incredible logic was based on the fact that the price of bitcoin increased 130% because of its spot ETF approval. Asserting that supposed fact, GSR analysts then extrapolated the impact of what is in their mind a very likely approval of a Solana spot ETF. Indeed, they state it as a foregone conclusion, claiming, “ Solana is next , should additional spot digital asset ETFs be permitted in the US.” Crypto influencers breathlessly retweeted and reblogged GSR’s presumptuous report hundreds of times and since June 27, the price of SOL is up about 5%. According to GSR, “when” the SEC approves spot Solana ETFs, the only question is not whether the price of SOL will increase — but by how much. GSR calculated three, acclamatory price targets. Bearish: +140% Baseline: +440% Blue sky: +990% GSR’s bullish sentiment seems to be...