🔥How could the price of SOL behave if a Solana ETF is approved?
Market maker GSR markets filed a report on #Solana yesterday, predicting that with an approval of #ETF. from Solana, the price of SOL in a “blue sky scenario” (bullish) could reach as high as $1,320. .
GSR estimates that this “blue sky scenario” can occur as long as the Solana spot ETFs capture 14% of the flows that the #ETFs spot ETFs achieved since their launch in January, based on the relative size of the market capitalization. This would make the price x8.9, which if we take the current price of $149 dollars as a reference, the price could reach $1,320 dollars
Now, there are two other scenarios depending on the capture of Bitcoin flows. If it only captures 2% of the flows it is a “bearish scenario” reaching x1.4 ($208 dollars). Finally, a “medium scenario” could be presented if it only captures 5% of the flows, which could take the price to x3.4 ($506 dollars).
Meanwhile, 21shares is the second company to file for a Solana ETF in the United States.
Lately we have seen how Solana has been positioning and improving as one of the main #Blockchain networks, still remaining within the top 5 cryptocurrencies with the highest market capitalization, according to Coinmarketcap. I think this will be one of the catalysts that could boost the price of SOL and that more people start to know about this network.
👉Do you want to continue learning about the crypto world?
Share and follow me for more 👈😎
