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<p>The post <a href="https://coinpedia.org/news/solana-sol-price-poised-for-massive-rally-following-ethereum-etf-launch/">Solana Price to Rally as Ethereum ETFs Boost Altcoin Market: Should You Buy Now?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After years of waiting, the crypto community will celebrate the listing and trading several spot Ethereum (ETH) exchange-traded funds (ETFs) in the United States from today. This milestone is expected to bring billions of dollars into the Ethereum ecosystem in the coming years.</p> 
<p>Institutional investors are preparing to diversify their crypto portfolios, aiming to maximize profits within legal boundaries. The listing and trading of spot Ether ETFs have already triggered significant on-chain activity among crypto whale investors. </p> 
<p>For example, a dormant whale account holding about 977 Ether was reactivated after nine years within the past 24 hours.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a4.png" alt="💤" class="wp-smiley" style="height: 1em; max-height: 1em;"> A dormant address containing 977 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> (3,373,717 USD) has just been activated after 9.0 years!<a href="https://t.co/MLAxvQiz4b">https://t.co/MLAxvQiz4b</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1815427035868631200?ref_src=twsrc%5Etfw">July 22, 2024</a>
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<p>Wait, what? Yes, you read that right – whales are certainly on the move. Here’s more about it below. </p> 
<h2 class="wp-block-heading" id="h-massive-moves">Massive Moves </h2> 
<p>Grayscale has taken a significant step by seeding its new Mini ETH ETF with $1 billion following the U.S. SEC’s approval. This move highlights the growing interest of institutional investors in Ethereum.</p> 
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   <p lang="en" dir="ltr">In the 9 days ahead of tomorrow's <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF launch, two giant whales deposited 25,865 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($89M) to CEX!<br><br>1⃣ Whale 0xbec moved 11,965 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at ~$3,457 ($41.4M) in the past 5 days.<br><br>• Last action: 12hrs ago<br>• Holding: 51,462 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (~$180M)<br>• Est. profit: $29.9M… <a href="https://t.co/q4Cs8LhkX6">pic.twitter.com/q4Cs8LhkX6</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1815268661223199077?ref_src=twsrc%5Etfw">July 22, 2024</a>
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<p>On-chain data analytics firm Spotonchain has identified two whales who deposited nearly 26,000 Ether, worth around $89 million, into various crypto exchanges. This increased activity indicates that large investors are positioning themselves strategically in response to the ETF launches.</p> 
<h2 class="wp-block-heading" id="h-why-bet-on-solana">Why Bet on Solana?</h2> 
<p>Veteran Bitcoin trader Kyle Chassé views the launch of spot Ether ETFs as a major bullish event for the entire altcoin market. He believes that Ethereum’s validation in the United States will pave the way for similar altcoin products in the future.</p> 
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   <p lang="en" dir="ltr">Ethereum ETF launch tomorrow is going to PUMP some coins.<br><br>This is what I'll be watching closely:…</p>— Kyle Chassé (@kyle_chasse) <a href="https://twitter.com/kyle_chasse/status/1815424048605934050?ref_src=twsrc%5Etfw">July 22, 2024</a>
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<p>As reported by Coinpedia, VanEck has already filed with the US SEC to offer a spot Solana ETF. Chassé is confident that Solana will soon lead the highly anticipated altseason, driven by a dynamic web3 ecosystem. In the last two weeks, Solana’s price against the US dollar has surged by more than 23 percent, reaching around $174 on Tuesday during the early European session.</p> 
<h2 class="wp-block-heading" id="h-it-s-onward-and-upward-for-solana">It’s Onward and Upward for Solana!</h2> 
<p>From a technical perspective, Solana’s (SOL) price has broken out of a micro-falling trend and is now aiming to retest its all-time high. This breakout suggests strong momentum and potential for further gains.</p> 
<p>The launch of spot Ethereum ETFs marks a significant development in the crypto world, setting the stage for a more diversified and robust market. As institutional interest grows, the future looks promising for Ethereum and other altcoins.</p> 
<p><strong>As the crypto market heats up, is now the time to diversify your portfolio? Share your investment strategies.</strong></p>

Solana Price to Rally as Ethereum ETFs Boost Altcoin Market: Should You Buy Now?

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