Ex-Kraken CLO Declares Solana Finally Delivers on Promises Ethereum Made Almost a Decade Ago
Solana isn't just competing—it's fulfilling legacy promises while Ethereum's roadmap stretches toward the horizon.
The Next Generation Arrives
Former Kraken Chief Legal Officer drops truth bombs about blockchain evolution. Solana's architecture cuts through scalability debates that have plagued Ethereum since its inception. High throughput meets low fees—no more gas price nightmares that make traditional banking fees look almost reasonable.
Performance Over Promises
While Ethereum's upgrade path resembles corporate software release cycles, Solana delivers raw performance today. Transaction speeds that actually support global adoption, not just theoretical whitepaper metrics. The network handles real volume without collapsing—something Wall Street's legacy systems still struggle with after decades.
The Institutional Perspective
Legal veterans recognize functional infrastructure when they see it. Regulatory clarity follows usable technology, not vaporware promises. Solana's practical approach attracts builders instead of speculators—though let's be honest, the crypto crowd still loves a good moonshot.
Ethereum's decade-old vision finally finds execution in an unexpected successor. Maybe the real scalability trilemma was the friends we made along the way—and the trading fees we paid waiting for solutions.
Marco Santori's comments
In an X thread, Santori, a former Kraken CLO, introduced Solmate, which he described as “brand new solana infrastructure” for the UAE, adding that he will be CEO.
He said Solmate is aligned with the Solana Foundation and backed by UAE investors, and he highlighted additional support from Ark Invest, which he characterized as a rare DAT PIPE investment by an ETF.
Santori framed Solmate’s remit as a digital asset treasury and crypto infrastructure company focused on SOL-per-share growth for shareholders.
Santori outlined the strategy behind the vehicle by calling digital asset treasuries “capital accumulation machines.” In his view, the best DAT is the one with the best access to capital, and he argued the UAE is “the Capitol of Capital.”
He said Solmate’s sponsors include the Pulsar Group, positioning the firm to raise fiat and convert it into crypto more efficiently than individual investors.
On operations, Santori said Solmate is partnering with RockawayX, which he called a leader in staking infrastructure, and that Viktor Fischer will join the board.
The plan includes standing up bare-metal validators in Abu Dhabi to target performance and reliability for staking, with more initiatives to follow.
Santori also made a broader case for the Solana ecosystem.
He said Solana is the “fastest, most used” blockchain and is growing faster than comparable networks. He contrasted it with ethereum by saying Solana “delivers what Ethereum promised,” and closed the thread with an emphatic “I’m all in on it.”
Comments from analysts on SOL's price action
Analyst Rekt Capital said SOL has broken a long-term downtrend and is now retesting about $238 —f ormerly major monthly resistance —a s support on the weekly chart. He sees a successful retest as confirmation that the old ceiling has flipped to a floor, which would keep the path open for attempts at new all-time highs.
Trader KALEO said “$1,000+ sol isn’t a meme,” presenting four-figure prices as plausible; he did not specify timing in the post.
CoinDesk Research's technical analysis
. The analysis covers Sept. 17, 2025, 19:00 UTC to Sept. 18, 2025, 18:00 UTC.
. During that window, SOL moved from $233.78 to $250.59 (about +7.2%), swinging about $19.72 in total. That tells us buyers were generally in control during this period.
. Around 22:00 UTC on Sept. 17, 2025, price pushed above ~$245 on much heavier trading (~2.32M units). “Heavier trading” means more coins changed hands than usual.
When price climbs on bigger-than-normal activity, it’s a sign demand is strong enough to overcome sellers. After that push, ~$245 started acting like a floor (support) — traders were willing to buy dips there.
. At 17:00 UTC on Sept. 18, 2025, price stalled NEAR ~$253.44 on very high trading (~2.88M units). That shows ~$253 is a ceiling (resistance) — many traders chose to sell or take profit there, absorbing buy orders.
. Between 17:56 UTC and 18:55 UTC on Sept. 18, 2025, price eased from $251.55 to $250.40. That small, orderly fade after a strong run is typical cool-off or consolidation — the market catching its breath rather than reversing trend.
- Floors (support): ~$245 first, ~$238 if ~$245 breaks. Support = areas where buyers have recently stepped in.
- Ceilings (resistance): ~$252–$253 first, then ~$255–$260 if price gets through ~$253. Resistance = areas where sellers have recently pushed back.
. Buyers defended ~$245; sellers capped ~$253. A daily/4-hour close above ~$253 (UTC) would likely invite a push toward ~$255–$260. A drop below ~$245 would likely bring a check of $242–$243, then ~$238.
Analysis of latest SOL-USD CoinDesk Data charts
24-hour chart (ending Sept. 18, 19:51 UTC): Range $237.01–$252.81; coiling above ~$245 with a ceiling ~$252–$253. Hold ~$245 and a push through ~$253 would likely target ~$255–$260; lose ~$245 and the path is $242–$243, then ~$238.
One-month chart (ending Sept. 18, 19:52 UTC): Uptrend of higher highs/lows (roughly $179.71 → $250.50). $238 is the pivot: above it keeps the breakout case clean; below it suggests a pause toward the low $230s before another try higher.
