Solana

Banana

Spot

<p>The post <a href="https://coinpedia.org/news/is-solana-etf-the-next-big-thing-1000-price-prediction-rocks-crypto-world/" rel="noopener noreferrer nofollow">Is Solana ETF the Next Big Thing? $1000 Price Prediction Rocks Crypto World!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Solana with a market cap of $69 billion currently stands at 5th in CoinmarketCap’s ranking, and could soon rise to third place, driven by excitement around Solana ETFs and its robust blockchain technology.&nbsp;</p>
<p>However, a former Goldman Sachs executive, and crypto analyst, Raoul Pal believes Solana’s upcoming “Banana Zone” could push its price to surge near $1000.</p>
<h2 class="wp-block-heading" id="h-solana-etf-is-possible-soon">Solana ETF is Possible Soon</h2>
<p>On June 27 and 28, investment giants VanEck and 21Shares made waves by filing for a <a href="https://coinpedia.org/news/breaking-21shares-files-s-1-for-solana-etf/" rel="noopener noreferrer nofollow">Spot Solana ETF</a> with the U.S. Securities and Exchange Commission. This news sparked excitement in the market, propelling the SOL price up by approximately 11% to hit $150.</p>
<p>This surge is largely driven by growing optimism that the SEC may soon give the green light to a Spot Solana ETF, setting the stage for potential further gains.&nbsp;</p>
<p>Meanwhile, Eric Balchunas, a senior Bloomberg ETF analyst, believes there’s a chance for approval within the next 12 months, despite the SEC labeling SOL as a security in its lawsuits against Binance and Coinbase. Balchunas suggests that a change in SEC leadership after the U.S. presidential elections could be beneficial for Solana.</p>
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   <p lang="en" dir="ltr">Yes, the odds of a Solana ETF being approved in next 12mo are tied at the hip to the odds of a change in POTUS and safe to say the chances of both are higher today then they were yesterday.. Altho we not giving any exact number on this yet. Way too early. <a href="https://t.co/lCdF3EXtLK" rel="noopener noreferrer nofollow">https://t.co/lCdF3EXtLK</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1806651397602943119?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<h2 class="wp-block-heading" id="h-banana-zone-pushing-sol-price">Banana Zone Pushing Sol Price</h2>
<p>Many analysts believe that a Solana ETF could push the price as high as $1000, with the upcoming “Banana Zone” potentially accelerating this growth. Raoul Pal, a former Goldman Sachs executive and crypto analyst, suggested that the Banana Zone will lead to long-term gains for Solana. He <a href="https://coinpedia.org/price-analysis/solana-price-may-re-enter-the-bullish-range-eyes-a-25-rise-after-securing-150-this-week/" rel="noopener noreferrer nofollow">believes Solana</a> has the potential to become a major player in the market.&nbsp;</p>
<p>Despite already having a decent performance this year, Solana’s growth could be further boosted by the Banana Zone or the upcoming bull cycle.</p>
<h2 class="wp-block-heading" id="h-solana-price-analysis">Solana Price Analysis</h2>
<p>From a long-term technical perspective, Solana is currently moving within a symmetrical triangle pattern. This, combined with the previous uptrend, suggests a strong bullish continuation leading up to the U.S. presidential elections.</p>
<p>If Solana successfully breaks above the upper trendline, it could trigger a price rally toward $300 by the end of the year. Currently, <a href="https://markets.coinpedia.org/solana/" rel="noopener noreferrer nofollow">SOL is trading at $150</a>, reflecting a 2.5% increase in a day, with a market cap of $69.6 billion.</p>

Is Solana ETF the Next Big Thing? $1000 Price Prediction Rocks Crypto World!

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