The cryptocurrency market was very excited after XRP won against the US Securities and Exchange Commission (SEC). This victory caused significant increases in the value of many altcoins and brought general optimism to the market. Solana also got its share of this positive effect. Solana ETFs are gaining popularity in Brazil, while the country’s financial regulators approved the SOL ETF.
This significant development is also starting to resonate in the US crypto market. If SOL ETFs can find a place in the US market, it could significantly increase Solana’s price and give it a stronger position in the market. Brazil has been a pioneer in this field at a time when Solana ETFs have been gaining significant global traction. Brazilian regulators approving the launch of Solana ETFs could allow investors to explore the altcoin more reliably, which has sparked a huge interest in the Web3 ecosystem worldwide.
In the growing excitement about ETFs, one of the giants of the financial world, Franklin Templeton, stated that Solana is also in a significant adoption process like Bitcoin and Ethereum. Franklin Templeton Digital Assets stated that “With the launch of ETH ETFs, Solana has shown significant development alongside Bitcoin and Ethereum and has demonstrated the potential of high-efficiency, monolithic architectures.” This statement increased the interest of investors in Solana ETFs. If these ETFs become a reality, new highs could be seen in SOL prices and the token could enter a significant uptrend.
Price Prediction: How High Can Solana Rise?
Solana is currently trading at $157 and is expected to rise to $162 by the end of the week, according to CoinCodex. The price is expected to remain at this level until August 15.
“Based on the positive and negative trends of the last 30 days, Solana price prediction is expected to trade at $162.55 on August 16, 2024, showing an increase of 0.59%.”
It is estimated that SOL may reach $184 with a 14% increase by the end of August 2024.
“Our current Solana price forecast is that Solana could rise 14.44% to $184.92 on September 8, 2024. Our technical indicators suggest that market sentiment is neutral, with the Fear & Greed Index at 48 (neutral). Over the last 30 days, Solana has had 17/30 (57%) green days, with a price volatility of 10.48%.”
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I EXPLAIN IN DETAILED.
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