Recently, the Solana cryptocurrency (SOL) has shown significant growth, successfully outperforming such well-known representatives of the market as Bitcoin (BTC) and Ethereum (ETH). Solana
The performance of the Ether #ETF is expected to play a key role in the future prospects of the #SOL project. It is interesting to note that over the past 7 days, the value of SOL has increased by 21%. The possible registration of a Solana-related spot ETF by CBOE Global Markets will result in a significant boost to the development of this asset. Although SOL is still 34% away from its all-time high ($260), many experts believe that the market support and positive outlook promises that it will soon return to the $200 position.
It is important to take into account that #Solana has a long history of returning to previous heights. For example, in 2021, the value of this #cryptocurrency increased from $9 to $121, which is about 900% growth. A factor that may well influence the growth in the value of SOL is the start of trading of ETFs based on Etheurem, which is scheduled to start on July 23. Thus, information about planned ETFs can stimulate interest in cryptocurrencies in general and allows us to count on favorable dynamics of Solana development.
In general, Solana demonstrates significant activity and potential growth opportunities in light of the current state of the cryptocurrency market. The growing trend of creating cryptocurrency ETFs for a wide range of investors is becoming an important catalyst to help Solana and other types of crypto-assets grow.
Read us at: Compass Investments
