Ethereum

Solana

Flash

<ul>
 <li>Solana is the most common destination for assets from the Ethereum ecosystem, and with the ETFs looming, analysts predict that billions could be flowing into the SOL ecosystem.</li>
 <li>Market experts predict that Ethereum ETFs could attract at least half of BTC ETFs’ $60 billion assets, and a significant share of this would flow into Solana, halting further dips below $130.</li>
</ul>
It has been the year of ETFs. Bitcoin spot ETFs launched in January and have accumulated over $60 billion in assets under management. Ethereum ETFs are on the way, and according to some analysts, Solana might be one of the biggest beneficiaries of the latter.
<iframe title="Solana (SOL) Gears Up for Ethereum ETF Influence, Maintains Strong Position Above $130" width="788" height="443" src="https://www.youtube.com/embed/1twyfGVg0IY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
While Solana has long been hailed as an Ethereum killer, the relationship between the two major altcoins has been positive. Data from Wormhole, the largest cross-chain bridge on the Ethereum ecosystem, shows that no other crypto ecosystem receives more assets from Ethereum than Solana.
For instance, Ethereum users have <a href="https://wormholescan.io/" target="_blank" rel="noopener noreferrer nofollow">bridged</a> over $3 billion in crypto assets from the leading altcoin in the past year. Of this, $951 million went to the Solana ecosystem, with Sui the only network that recorded more bridged assets. This means that any activity on the Ethereum network tends to have an outsized effect on Solana.
In turn, Solana users have raised $1.48 billion over the past year. More than half of this amount, $782 million, went to Ethereum.
This makes the two ecosystems highly co-dependent.
Then comes the Ether ETFs. While the SEC has approved these ETFs, the industry awaits the final green light to launch the products, with some, like <a href="https://www.crypto-news-flash.com/ethereum-consensys-launches-long-anticipated-zkevm-testnet-will-it-drive-eth-price-to-2k/" rel="noopener noreferrer nofollow">Consensys</a>, expecting the agency to come through in a matter of days.
Once the ETFs launch, the price of Ether is expected to surge. As Crypto News Flash has <a href="https://www.crypto-news-flash.com/ethereum-etfs-expected-to-launch-in-early-july-eth-price-poised-to-reach-6000/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, some experts expect it to hit $6,000 in the short term.
More importantly, analysts expect the ETFs to attract billions of dollars into Ethereum. Jag Kooner, Head of Derivatives at Bitfinex, predicted earlier this month that they would capture at least $20 billion of the current BTC ETFs assets, which is $60 billion. This would mean an extra $12 billion going to ETH.
Others are more optimistic and predict that <a href="https://www.crypto-news-flash.com/ethereum-2-0-case-closed-by-sec-major-win-for-developers/" rel="noopener noreferrer nofollow">Ether ETFs</a> will pull at least half of what BTC has achieved, translating to $30 billion in extra Ethereum investment. Unlike BTC, Ethereum offers users several ways to make extra income, including yield farming and staking, further making it a more attractive investment and possibly pushing the investments above estimations.
With Solana and Ethereum closely intertwined, some of the investment will inevitably flow into SOL, pushing the token to new heights. SOL currently trades at $125, losing over 5% in the past day as the broader market saw a devastating open to the week, with the overall market cap dipping nearly 5%. Solana has dipped 25% in the past month.

<div class="cryptoboxes" id="mcw-126000" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="solana" data-symbol="SOL" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>

Solana (SOL) Prepares for Ethereum ETF Impact, Trades Firmly Above $130

Crypto News Flash

Muita 24. kesäk. 2024 julkaistuja artikkeleja

Best 5 Cryptos To Surge to $1? Insights on BlockDAG, XRP, Stellar, Mantle, and Arbitrum

Japanese consulting firm Metaplanet to put $6.2m in Bitcoin

Bitget Wallet Introduces Advanced TON Network Integration for dApps (24 Jun)

Over $122M Bitcoin longs liquidated as BTC falls below $61K

Flare (FLR) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Forward ITMO Hackathon a resounding success with multiple award-winning templates

Join our free newsletter for daily crypto updates!