Ex-Kraken Executive Says Solana Achieves Ethereum’s Original Vision From a Decade Back

Marco Santori, former Kraken CLO, has announced Solmate, a new Solana-focused treasury and infrastructure project based in the UAE, drawing attention from investors and analysts alike as SOL tests critical price levels.

Solmate: UAE-Based Solana Infrastructure

In a series of posts on X, Santori introduced Solmate and confirmed he will serve as CEO. The project, aligned with the Solana Foundation, is backed by UAE investors and ARK Invest, with the latter’s contribution described as a rare DAT PIPE ETF investment.

Santori outlined Solmate as a digital asset treasury (DAT) and crypto infrastructure firm focused on SOL-per-share growth. He called digital asset treasuries “capital accumulation machines,” noting the UAE provides unmatched access to capital. Solmate will also work with RockawayX, a staking infrastructure provider, and will have Viktor Fischer on its board.

Operational plans include deploying bare-metal validators in Abu Dhabi to maximize staking performance and reliability, with additional initiatives expected. Santori highlighted Solana as the “fastest, most used blockchain,” contrasting it with Ethereum by stating it “delivers what Ethereum promised,” and concluded emphatically: “I’m all in on it.”

Analyst Views on Price Action

Crypto analyst Rekt Capital highlighted that SOL has broken a long-term downtrend and is now retesting $238, previously a major resistance level, as weekly support. He noted that a successful retest could pave the way for renewed upside toward new all-time highs.

Trader KALEO echoed bullish sentiment, suggesting that $1,000+ SOL isn’t a meme, presenting four-figure prices as plausible, though without providing a specific timeline.

With institution-backed infrastructure development and renewed technical momentum, Solana is positioned for potential growth both operationally and on the price charts.

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