Solana’s SOL Spikes 15% on a Suggestive Tweet From Google Cloud
The SOL native token for Solana surged about 15% after Google Cloud tagged the blockchain’s co-founder in a tweet that suggested an important disclosure was in the offing.
“Hey @aeyakovenko,” the cloud-services giant tweeted Saturday, “Should we tell our followers the big news?”
Hey @aeyakovenko 👋— Google Cloud (@googlecloud) November 5, 2022
Should we tell our followers the big news?
Google Cloud an hour later – after SOL had leapt – tweeted what this was about: “Now that we got your attention... check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.”
While such a vague yet market-moving disclosure might not technically run afoul of financial regulations, it does raise the question of whether it’s OK to pump up the price of an asset with security-like qualities in this manner.
Solana, which has so far not lived up to the hype that it’s an industrial-grade blockchain well-suited for modern finance, is undergoing an infrastructure overhaul overseen by Jump Crypto.
Read more: Jump Crypto Picked to Revamp Solana to Make Blockchain More Reliable