Former Kraken CLO Marco Santori: Solana Delivers Ethereum's Promises as SOL Tests $238 Support

Former Kraken Chief Legal Officer Marco Santori has launched Solmate, a new Solana infrastructure company for the UAE, declaring Solana delivers on promises Ethereum made nearly a decade ago. Santori, who will serve as CEO, revealed Solmate is backed by UAE investors and aligned with the Solana Foundation, with additional support from Ark Invest. Santori described digital asset treasuries as "capital accumulation machines" and positioned the UAE as "the Capitol of Capital." The company partners with RockawayX for staking infrastructure and plans bare-metal validators in Abu Dhabi for maximum performance and reliability. Technical analysis shows SOL breaking long-term downtrends, with $238 acting as a critical pivot point. Analyst Rekt Capital confirms a successful retest of former resistance at $238 would confirm support, opening path to new all-time highs. Trader KALEO suggests $1,000+ SOL prices are plausible. CoinDesk Research indicates buyers defended $245 support while sellers capped advances at $253. A daily close above $253 could target $255-260, while a break below $245 may test $238 support. The one-month chart shows a clear uptrend from $179 to $250, with $238 remaining the key level for continued bullish momentum.