The approval of a Solana (SOL) Exchange-Traded Fund (ETF) could act as a major catalyst for several cryptocurrencies, with analysts predicting substantial gains for these tokens.
BONK
Bonk, a meme coin, is trading at $0.00003177, reflecting an 11% decline over the past seven days and a 33% drop in the last 30 days. Analysts suggest it could skyrocket to $0.0006354 next year, driven by the expected burn of 1 trillion tokens and the potential approval of the SOL ETF.
In September, Bonk announced a partnership with Osprey Funds to launch an Exchange-Traded Product (ETP) in the US, which could further enhance its market performance.
XRP
XRP is currently priced at $2.20, showing a 3% gain in the last 24 hours. Analysts believe the SOL ETF approval could increase expectations for an XRP ETF, potentially pushing its value up to $44.
Additionally, a key event anticipated for January 20, 2025—the inauguration of Donald Trump—could create bullish momentum. Paul Atkins’ expected appointment as SEC chair may lead to the withdrawal of the Ripple lawsuit, further driving XRP’s price. Analyst Dark Defender predicts XRP could reach $18 during this market cycle.
Other Beneficiaries
Other tokens that may benefit from SOL ETF approval include:
Dogwifhat (WIF)
Raydium (RAY)
Peanut the Squirrel (PNUT)
Popcat (POPCAT)
With the crypto market awaiting pivotal regulatory decisions, these assets could see significant growth in the coming months.
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