Solana

Impact

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-monitor-solanas-price-surge/" data-wpel-link="internal">Investors Monitor Solana’s Price Surge</a><br></p>
<p style="text-align: justify">In 2022, after the <strong>FTX</strong> incidents, attention turned to Solana. Solana’s price experienced an incredible drop during that period, falling to $8. After the decline, while the entire market thought Solana was finished, the price recovered and moved above $100 by the end of 2023. SOL didn’t stop there; it surpassed $200 during the meme coin craze in March, hinting at its previous ATH. So, what’s happening with Solana now?</p> 
<h2 style="text-align: justify" id="etf-application-for-solana">ETF Application for Solana</h2> 
<p style="text-align: justify"><strong>Solana</strong> (SOL) recently attracted attention with an ETF application in Canada. Following this, VanEck submitted an application to the Securities and Exchange Commission (SEC), which caused a significant stir.</p> 
<p style="text-align: justify">The existing <strong>Bitcoin</strong> rise in the market also created a positive trend for other altcoins, resulting in slight gains for the bulls. The <a href="https://en.coin-turk.com/bitcoins-strong-stance-continues-to-influence-altcoins/" data-wpel-link="internal">cryptocurrency market</a> rose to $2.29 trillion after a 0.67% increase, while Solana’s price surged over 8%.</p> 
<p style="text-align: justify">Despite the rise following the ETF <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> for Solana, a pullback was observed in the rest of the market. The BTC price, which had risen, seemed to reverse, returning to the $61,500 level.</p> 
<h2 style="text-align: justify" id="solana-s-price-is-rising">Solana’s Price is Rising</h2> 
<p style="text-align: justify">After the rise in the last 24 hours, Solana’s price surpassed the $150 level but pulled back slightly. At the time of writing, Solana is trading at $148.7 after a rise of over 9%, with weekly growth exceeding 10%. Despite all this rise, the 30-day outlook shows that the price is still down by 13%.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-365857" src="https://coin-turk.com/wp-content/uploads/2024/06/solana-coin-turk-com-3.png" alt="" width="2049" height="133"></p> 
<p style="text-align: justify">A noticeable growth is also observed in Solana’s market cap, with <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> curious about when SOL will surpass the $100 billion market cap again. After similar rises, SOL’s market cap exceeded $68.5 billion.</p> 
<p style="text-align: justify">Solana’s 24-hour trading volume also rose by 52%, reaching $2.73 billion, indicating intense interest in Solana due to the price increase.</p> 
<h2 style="text-align: justify" id="impact-of-etfs-on-the-market">Impact of ETFs on the Market</h2> 
<p style="text-align: justify">Recently, ETFs have become significant for individuals and institutions unsure where to enter the crypto market. About three months after Spot Bitcoin ETFs started trading on January 10, BTC’s price surpassed $73,000, achieving an ATH before the halving.</p> 
<p style="text-align: justify">Attention now seems to be turning to the spot Ethereum ETF. There are <a>reports</a> that the Spot Ethereum ETF will be approved in the first week of July, which could significantly impact Ethereum’s price.</p> 
<p style="text-align: justify">Applications for Solana could similarly affect SOL, as institutional interest in SOL has been significant. Besides BTC, ETH, and SOL, there are also comments about a potential ETF for XRP in the future.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-monitor-solanas-price-surge/" data-wpel-link="internal">Investors Monitor Solana’s Price Surge</a></h5>

Investors Monitor Solana’s Price Surge

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COINTURK NEWS

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