Ripple CEO sees SOL ETF as “imperative” – will SOL hit $1,000 this year?
Ripple CEO Brad Garlinghouse recently predicted that a Solana ETF is inevitable after the SEC approved Bitcoin and Ethereum ETFs.
At Consensus 2024, Garlinghouse highlighted the potential of the Solana ETF, noting the importance of regulatory clarity to the growth of digital assets in the United States.
This optimism, coupled with predictions of a $5 trillion crypto market, has fueled interest in Solana price predictions. Investors are now speculating whether SOL will reach $1,000 this year.
Ripple CEO sees Solana ETF as “imperative”
Ripple CEO Brad Garlinghouse said at the Consensus 2024 conference that the emergence of the Solana (SOL) ETF is inevitable after the SEC approved Bitcoin and Ethereum ETFs. He said:
Garlinghouse also expressed optimism about the crypto market reaching a $5 trillion valuation due to recent ETF approvals. He believes that various crypto projects can coexist, each focusing on different aspects of decentralized finance and digital assets.
Key points:
-Ripple CEO predicts Solana ETF is inevitable
-Regulatory clarity is critical for growth
-Crypto market potential reaches US$5 trillion
Crypto ETFs allow investors to gain exposure to digital assets without directly holding them, which is significant for institutional investors. The rise of ETFs could drive Solana's price, which could reach $1,000 this year.
Solana Price Approaches $166 Amid Solana ETF Talks
Solana is currently trading at $166.09 on the 4-hour chart. The pivot point marked by the green line is at $167.89. Near-term resistance levels are $172.50, $176.00, and $180.50, while near-term support levels are $163.50, $160.50, and $156.80.
On the 4-hour time frame, Solana is consolidating within a range, forming a symmetrical triangle pattern between $168 and $163. This pattern suggests hesitancy among investors.
Solana Price Prediction
A break above $168 could push Solana towards $173 and $180, while a break below $163 could lead to a drop to $156 and possibly even $150.
The RSI is at 47, indicating a neutral trend. The 50-day EMA is at $167.61, acting as resistance.
In summary, keep an eye on the $167.89 pivot point. A break above this point could signal underlying bullish momentum, while a break below $163 could signal further declines.
in conclusion
Overall, Solana's price forecast remains bullish in the long term in anticipation of the launch of the SOL ETF. With regulatory clarity and growing interest from institutional investors, Solana could realize significant gains, possibly reaching $1,000 by the end of next year.
Alternative Internet popular coins with massive gains
Traders looking for quick, significant gains may consider new alternatives, including tokens in pre-sales. One of the promising tokens is PlayDoge (PLAY), an Ethereum-based cryptocurrency that recently launched a presale with a goal of raising $930,000 of the $1.38 million raised.
PlayDoge’s appeal lies in its Doge-themed virtual pet-raising game with a cryptocurrency-enabled play-to-earn mechanism. Players can breed, trade and take their virtual Shiba Inu on missions by earning PLAY tokens, with a maximum supply of 9.4 billion. The current pre-sale price is $0.00501 per token.
Current status: $930,000 raised
Token supply: 9.4 billion PLAY
More game details will be announced soon, but those interested can participate in the pre-sale on the PlayDoge website. Investing early is advantageous as the pre-sale price increases with each stage, potentially leading to significant gains once the game is launched and listed on exchanges.
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