Solana: How High Will SOL Trade If An ETF Is Approved?

Exchange Traded Funds (ETF) person been a item for the cryptocurrency community. Top cryptocurrencies witnessed the introduction of organization investors. To articulation the ranks of Bitcoin (BTC) and Ethereum (ETH) respective different assets were seen lining up. More recently, an XRP and Solana Futures ETF motorboat is being planned by the monolithic American fiscal services institution CME Group. Amidst this, the marketplace was speculating connected the terms of these assets aft the ETF is approved.

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A Dive Into The Solana Market

Solana (SOL) has undoubtedly been a apical performer this week. The asset’s seven-day terms alteration stands astatine a affirmative 24% which is overmuch higher than the remainder of the market. Sadly beardown bearish winds deed the SOL web bringing down the cryptocurrency. At the clip of writing, the altcoin was trading astatine $248.02 aft signaling a driblet of astir 3% implicit the past 24 hours.

Source: CoinMarketCap

Earlier this week, the altcoin deed an all-time precocious of $294.33. The plus presently trades 15% beneath this peak. The assemblage believes that SOL could bounce backmost and determination beyond $300 erstwhile the ETF garners approval. The firm’s website states that taxable to regulatory approval, the CME Group intends to present these futures ETFs connected February 10.

Also Read: CME Set to Launch XRP and SOL Futures successful February – Major Market Shift Incoming

Price Prediction

It looks similar the Solana marketplace volition person to hold longer to scope $300. Over the past fewer months, the assemblage has been heavy betting connected the altcoin to scope $500. According to information from CoinCodex, the highest that SOL volition commercialized successful the period of February is $270. This marks an 8.98% spike from its existent terms level.

Source: CoinCodex

It should beryllium noted that the support of an ETF could enactment arsenic substance to a imaginable rally. As SOL surged by implicit 20% successful the past fewer days alone, the assemblage is assured astir Solana’s ascent to $500.

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