American Pop Star Jason Derulo Reveals Investment In Solana (SOL)

Solana (SOL) has been one of the highest-performing cryptos recently. A tremendous run saw the asset go from relative obscurity to debuting on the top 10 for the first time. Kicking out Binance coin BNB in the process. But the digital asset did not stop there. Last week, on the back of another massive run that saw the price set a new all-time high, Solana beat out community favorite Dogecoin to clench the 7th position on the top 10 charts. All of this, it achieved in the space of a week.

Even now, the digital asset has seen increasing success in the market. Currently trading above its previous all-time high of $143 that it had hit on Friday. Its growing popularity has brought in a lot of new investors to the asset. FTX CEO and co-founder Sam Bankman-Fried is one of the most prominent names in its list of backers. With the CEO showing support for the asset.

Related Reading | Survey Shows 1 In 10 U.S. Investors Own Crypto Despite Seeing It As A Risky Asset

Now, American pop star Jason Derulo has announced his holdings in Solana (SOL). But according to the singer, he had actually invested in the coin back in June when the project was not as popular as it is now. The pop star tweeted this to his 3.7 million followers on Twitter.

I betted on Solana in June. Wow what a ride! #crypto

— Jason Derulo (@jasonderulo) September 3, 2021

Jason Derulo now joins the ranks of celebrities who have thrown their hats in the ring with crypto. As it stands now, crypto is fast becoming a favorite in Hollywood as the stars continue to take personal positions in projects which they support.

Celebrities Getting Into Crypto

Jason Derulo announcing his investment in Solana (SOL) is in no way unique at this point. The star tweeting about his position follows the same format for most other stars in Hollywood revealing their positions.

Related Reading | Majority Of Russians Say They Would Rather Buy Crypto Over Traditional Assets

Hip-Hop star Busta Rhymes also tweeted that he had taken a personal position in Bitcoin after receiving advice regarding the digital asset. Rhymes had further revealed an interest in getting paid in BTC for shows and business dealings going forward.

Most recently, A-list actress Reese Witherspoon also disclosed that she had invested in crypto after purchasing Ethereum. Sparking a flood of replies and follows from crypto Twitter.

Solana (SOL) Price Movements

Solana (SOL) has maintained its momentum so far. The digital asset had earlier tested the $150 price range. Breaking it ever so slightly. But was beaten back down at this resistance point. Solana, catching itself before falling too low in the $130 price range, recovered from this dip.

SOL price holding steady above $140 | Source: SOLUSD on TradingView.com

At the time of writing, Solana is trading at $144.3. While maintaining its 7th position with a $41 billion dollar market cap.

Featured image from Deezer, chart from TradingView.com