As the crypto market rebounds from the recent lows, Solana (SOL) has reclaimed a crucial level, nearing a key resistance area that could set the stage for a long-awaited price recovery rally, according to some market watchers. Related Reading: Ethereum’s End-Of-Year Rally Still At Play? Analysts Eye 50% December Jump Solana Bounces Despite ETF Outflows The crypto market has surged above the $3 trillion mark for the first time in a week, with Bitcoin, Ethereum, and most leading cryptocurrencies reclaiming crucial support levels lost during the latest market pullback. Solana joined the market rally and jumped from the recently recovered $135-$140 area to the upper zone of its local range on Wednesday afternoon. Notably, the altcoin has been trading between the $130-$145 price range over the past two weeks, briefly losing the lower boundary during last week’s correction. This week, SOL’s price has reclaimed some crucial ground, surging over 10% since Monday’s opening and nearing the $145 resistance. Amid this performance, analyst Ted Pillows noted institutional participation, as SOL treasury companies have started to show early signs of recovery. He also highlighted that Solana Exchange-Traded Funds (ETFs) have experienced record inflows this month despite the correction. According to Farside Investors’ data, the SOL-based investment products have registered $613 million in inflows since their launch on October 28. It’s worth noting that throughout the recent pullbacks, Solana funds have seen a strong demand, with a 22-day positive streak while the altcoin’s price descended to multi-month lows. However, as its price recovered, SOL’s ETFs registered their first negative in nearly a month. 21Shares’ TSOL, which launched a week ago, saw $34 million in outflows on Wednesday, outshining the over $13 million and $10 million in inflows of Bitwise’s BSOL and Grayscale’s GSOL. As a result, the whole category recorded net outflows of $8.1 million. In his analysis, Ted Pillows also noted that “It seems like SOL has bottomed for a while, but institutional buying needs to accelerate here. Otherwise, it won’t take long for Solana to make new lows.” SOL Ready For December Recovery? Analyst Ali Martinez suggested that Solana’s pain might be over as its price “usually bottoms when investors capitulate… And for the past two weeks, that’s exactly what’s been happening.” According to the chart, SOL’s price has historically found a floor when the Net Unrealized Profit/Loss (NUPL) indicator reaches the capitulation zone, which it has recently fallen to. Meanwhile, Crypto Patel highlighted that Solana is breaking out of a one-month downtrend, which could trigger a 25% recovery rally near the key $180 barrier in the coming weeks. Another market observer warned that the altcoin is “walking straight into the lion’s den” as its price nears the $144-$146 resistance levels. Trader Mr. Ape noted that Solana’s price has been rejected three times from this heavy supply area, and momentum “is slowing again as we hit the zone.” Related Reading: XRP ETFs Outshine BTC, ETH, And SOL Funds With $164M Single-Day Inflows To the trader, this is the crucial level to watch, as another rejection could send the price to the $132 support, where strong demand lies from the previous bounce. On the contrary, a successful breakout from this level and reclaiming it as support could confirm the shift and trigger a surge to the $157 area. As of this writing, Solana is trading at $142, a 7.7% increase on the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Analysts said bitcoin is now witnessing its "first real institutional stress test," as long-term buyers accumulate while volatility persists.
Analysts say ETF flows, onchain stress and critical macro data keep risks elevated despite bitcoin's modest rebound.
Amid the second wave of crypto-based Exchange-Traded Funds (ETFs), Solana (SOL)-based investment products have been leading the charge, fueled by strong demand despite the recent market volatility. As a new group of investment products based on the altcoin hits the market and SOL’s price starts to recover, some suggest that a rebound could be underway. Related Reading: Analyst Shares Worst-Case Scenario For Bitcoin (BTC) As Price Shows Concerning Signs Solana ETFs Take Over The second wave of Solana ETFs has arrived in the market after the successful launch of SOL-based investment products. On Monday, VanEck debuted its Solana ETF (VSOL) on Nasdaq, becoming the third investment product based on the altcoin to launch over the past month. According to the announcement, the firm is waiving its 0.30% fee on the first $1 billion in assets under management (AUM) or until February 17, 2026. Meanwhile, its third-party staking provider will also waive its fee for staking services under the same conditions. Adding to the momentum, Fidelity and Canary Capital launched their FSOL and SOLC ETFs on Tuesday, after recently filing 8-A forms with the Securities and Exchange Commission (SEC). Senior Bloomberg analyst Eric Balchunas noted that Fidelity is “easily the biggest asset manager in this category with BlackRock sitting out,” adding that it is “Game on” with the other launches. Meanwhile, Nate Geraci also highlighted the new launch, but expressed surprise that BlackRock is “sitting this one out” as many anticipate a successful performance. Notably, Bitwise and Grayscale debuted their BSOL and GSOL ETFs at the end of October, registering a record-breaking performance since their launch. Farside Invest data shows that SOL-based investment products have recorded over $390 million in inflows, with 15 consecutive trading days of positive net flows, signaling strong institutional demand for the products. In a Tuesday X post, Bitwise’s CEO, Hunter Horsley, noted BSOL’s positive performance despite the market correction, affirming that “prices are in the eye of the beholder.” “ETF investors continue to buy the dip. Grateful for the trust in Bitwise to steward investor assets,” he added. Institutional Demand To Fuel SOL’s Rebound? Amid the Tuesday launches, SOL’s price bounced 8.4% from its five-month low of $128, recorded on Monday. The cryptocurrency has declined 12% over the past month, losing crucial levels during the market correction. However, Bybit recently suggested that the newly launched investment products could reshape “its price trajectory and market structure for years to come.” In a recent report, the crypto exchange’s analysts noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as one of the few digital assets with regulated brokerage access in the US. This “represents a structural shift in how SOL is accessed, traded and perceived,” significantly expanding SOL’s investor base and confidence. “If historical patterns hold, Solana could be on the cusp of a multi-quarter rally that redefines its position in the crypto hierarchy,” the exchange affirmed. Analyst Ted Pillows pointed out SOL’s price action, calling it “one of the worst-performing large caps recently.” However, he argued that, because of this, most of its downside liquidity has already been taken out, with “decent liquidity clusters around the $170-$200 level.” Related Reading: Crypto Market Wipes Out $1 Trillion Since October: Analyzing The Forces Behind The Crash To analysts, if the market starts to recover and stabilizes, Solana could rally 20%-40% to retest this area. Meanwhile, Daan Crypto Trades affirmed that SOL is “putting in quite the reversal relative to its BTC pair,” as the cryptocurrency has broken out of a three-week downtrend against Bitcoin after some failed attempts. As of this writing, Solana is trading at $141, a 25.3% decline in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin's slide under $90,000 may fuel a deepening capitulation phase across crypto, analysts told The Block.
Crypto products have posted their largest weekly outflows since February, with $2 billion exiting ETPs as policy uncertainty weighs on sentiment.
Sygnum Bank’s global survey shows 61% of institutions plan to boost crypto exposure in Q4, but sentiment turns cautious heading into 2026.
Analysts flagged early signs of market stability as whales accumulated nearly 30,000 BTC and ETF inflows turned positive.
Amid the market pullback, Solana (SOL) has hit a new local low after its price fell below a crucial support level for the first time in months. Some analysts have suggested that the altcoin is in a healthy retest of a key area, but others warned that the cryptocurrency risks another major correction if the current levels are also lost. Related Reading: Bitcoin Bull Run: Over Or Just Paused? CryptoQuant CEO Presents The Data Solana Risks 30% Correction On Monday, Solana recorded an 8.3% drop after losing the lower boundary of its three-month range. The cryptocurrency has been trading within the $175-$250 levels after the August breakout, hitting a multi-month high of $253 during the September rally. Since then, the altcoin has retraced nearly 35% to the current levels and failed to successfully reclaim the $200 psychological barrier despite multiple attempts. Following the early October correction, when SOL dropped to $168, the price has repeatedly retested the $170-$180 mark as support, bouncing from this area each time. Nonetheless, the recent market volatility, which sent Bitcoin (BTC) back to the $107,000 mark, has dragged Solana below its crucial support zone to a new local low of $165. Amid this performance, some analysts have suggested that SOL’s pullback may not be over, as the price risks another major correction. Analyst Ali Martinez highlighted the cryptocurrency’s macro range between $100-$260, emphasizing that Solana must reclaim $200 to show strength and potentially target the range highs. He previously affirmed that a confirmed breakdown from the $180 level would set the stage for further losses. Per the chart, the next support level sits around the $158 area, which marks the mid-zone of the macro range and a key support and resistance level throughout the early Q3 run and Last November’s breakout. However, the analyst considers that the next crucial support actually “sits much lower.” As he explained, if Solana fails to bounce from the current levels and reclaim $180, it could face a 30% pullback to $115. Meanwhile, analyst DonAlt affirmed that “It’s probably wise to have a bearish bias between here and $210 and then aggressively flip if SOL manages to flip the $210 resistance.” Investor Bet On SOL’s Long-Term Performance Despite the bearish outlooks, some have suggested that SOL is “showing a clean retest setup” within its long-term support. Trader Elite Crypto considers that SOL’s recent pullback “looks like a healthy correction after months of upward movement.” He noted that the cryptocurrency is still holding a major ascending support zone that has served as a crucial bounce point since 2023. Based on this, the market watcher expects Solana’s price to retest the $158 area before the next leg up. “Overall, I am still bullish on SOL,” he affirmed. Bitwise CEO Hunter Horsley suggested a bullish long-term performance for the leading altcoin. In an X post, he highlighted that the asset management firm “opened a bridge to Solana for many investors” with its recently launched SOL Staked Exchange-Traded Fund (ETF). Related Reading: Is Crypto ‘Boring’ Now? Bitwise CEO Says The Market Is Changing Notably, the second wave of crypto-based ETFs started trading last week, with the SOL-based investment product recording $400 million of inflows on its first four days. According to Bloomberg analyst Eric Balchunas, it led “all crypto ETPs by a country mile in weekly flows.” Horsley highlighted that “ETF investors tend to be long term oriented,” signaling that the cryptocurrency is expected to have an overall bullish performance in the future despite the current price action. As of this writing, SOL is trading at $167, a 17% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin has slipped under $108,000 as whales take profits and ETFs see outflows.
Certified market analyst Tony Severino has revealed that the Litecoin 2M Bollinger band width has hit new lows. He explained what this means and how it provides a bullish outlook for the altcoin. Litecoin’s 2M Bollinger Band Hits New Record Lows In an X post, Severino stated that the Litecoin 2M Bollinger Band Width has continued to set new record lows, representing the tightest volatility in LTCUSD history. The expert further revealed that the 2M candle closed as a Hammer above the Bollinger Band basis despite the wick to the downside. Related Reading: Signal That Sparked 100% Litecoin Rally In 2017 Has Been Triggered Again He explained that this gives the technical picture a bullish bias for Litecoin. The analyst added that a close above $120 at the end of 2025 would trigger a buy signal for LTC. From a fundamentals angle, LTC just got its first spot ETF in the U.S., which provides a bullish outlook for the altcoin. However, it is worth noting that the ETF is currently lagging behind the Solana and Hedera ETFs in terms of inflows. Meanwhile, Severino had also painted a bullish picture for Litecoin, drawing comparisons between the LTC and ZCash charts. That suggested that LTC could witness a similar parabolic rally to ZEC’s, which has recorded a 10x rally from its low of around $40. This was around the time when the analyst revealed that LTC was at the |final boss resistance” based on the monthly SuperTrend. Crypto analyst Hal also recently provided a bullish outlook for Litecoin, predicting a 300x rally. However, the analyst stated that a drop to around $30 was likely before LTC’s parabolic rally. He urged investors to take advantage of such a dip, as they could enjoy massive gains when LTC breaks out to the upside after this long period of consolidation. 99% Chance Of A Rally Above $300 Crypto analyst XForce stated that Litecoin has a 99% chance of rallying above $300 as it is now approaching nine years of accumulation. His accompanying chart showed that LTC could reach $345 on this projected uptrend, which is expected to happen sometime next year. Meanwhile, a drop below $39 could invalidate this prediction. Related Reading: Analyst Reveals How Litecoin Can Turn $3,700 Into $1 Million For Investors Meanwhile, crypto analyst Bitcoinsensus stated that Litecoin is gearing up for its biggest macro move. Based on the technicals, the analyst remarked that LTC could rally to between $1,000 and $2,000 in this market cycle. Bitcoinsensus noted that the altcoin has already seen six years of sideways consolidation, suggesting that it was well primed for this projected parabolic rally to the upside. The analyst’s accompanying chart showed that LTC could reach these targets next year. At the time of writing, the Litecoin price is trading at around $94, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
Crypto analyst Hal has revealed how investors can make up to $1 million by investing in Litecoin. This comes as another analyst has predicted that LTC could soon break out of its current consolidation phase to reach a four-figure price target. How Litecoin Can Turn A $3,700 Investment Into $1 Million In an X post, Hal stated that investors can make $1 million from about $3,700 if they bid the low $30 range on Litecoin and sell when the altcoin reaches $9,000. The analyst is confident that the LTC price can still drop to around this level, providing investors another opportunity to take this investment advice. Related Reading: Signal That Sparked 100% Litecoin Rally In 2017 Has Been Triggered Again He noted that Litecoin never saw the 5th wave down in the Wave C corrective move, which he claimed means the altcoin is still going to drop below $41. Hal’s accompanying chart also showed that LTC could still drop to as low as $30 before its next parabolic rally to the upside. The analyst remarked that the altcoin could fall below the projected $30 range, but that it looks unlikely. Meanwhile, Hal declared that Litecoin is the “clearest and most confident” 250x to 300x play he sees in the market. He added that he has been waiting a long time for this last drop to $30 and that it is coming soon. He urged investors not to miss it, seeing as he projects that they could make millions on their LTC investment. Hal’s prediction comes amid the launch of the first spot Litecoin ETF by Canary Capital. This is expected to attract institutional inflows into the LTC ecosystem, which could be a positive for the altcoin’s price. However, the LTC hasn’t had the best of starts and is currently lagging behind the Solana and Hedera ETFs, which also just launched, in terms of inflows. Why LTC Could Easily Record This Parabolic Rally Hal noted that Litecoin has one of the longest, oldest, and largest accumulation channels in existence among altcoins against its Bitcoin pair. He revealed that the LTC/BTC chart looks similar to the DOGE/BTC chart just before the Dogecoin price broke out and did a 663x in the 2021 bull cycle. This is why the analyst is confident that LTC’s price can record a 300x gain from the next low when it reaches the top of the next altcoin run. Related Reading: Litecoin About To Complete 3rd Ever Golden Cross In History, What Happened The Last 2 Times? Meanwhile, crypto analyst CoinsKid stated that Litecoin has been in consolidation mode since the 2018 cycle top. He added that compression leads to expansion, predicting that LTC can reach $4,000 if it breaks the upper resistance just above $200. CoinsKid noted how this would put LTC just shy of Ethereum’s market cap. At the time of writing, the Litecoin price is trading at around $96, up almost 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
Following the recent launch of multiple crypto ETFs, Bitwise Asset Manager’s CIO has forecasted a bright future for the firm’s Solana Staking Exchange-Traded Fund (ETF), as investors show strong initial interest in the investment product. Related Reading: November Preview: Will Bitcoin Break The Cycle Or Repeat It? Bitwise Solana Staking ETF Sees Strong Start On Tuesday, Bitwise CIO Matt Hougan predicted that the Bitwise Solana Staking ETF (BSOL) could attract significant institutional interest and become one of the leading investment products based on digital assets. Hougan argued that Solana is “one of the most exciting crypto investment opportunities that exists today,” as it records “the most revenue of any blockchain.” He explained that institutional investors “love” both ETFs and revenue, which suggests that these investors will “love Solana ETFs.” Bitwise’s CIO previously pointed out that there must be fundamental reasons for investors’ interest in investment vehicles such as ETFs and Digital Asset Treasuries (DATs), signaling that Solana has them. Therefore, he has “a feeling the Bitwise Solana Staking ETF, BSOL, is gonna be huge.” Ahead of the launch, ETF Expert Eric Balchunas predicted that the first day volume for Bitwise’s Solana ETF could surpass the $50 million mark. Notably, the firm’s spot Bitcoin ETF (BITB) and spot Ethereum ETH (ETHW) recorded $237.9 million and $204 million on their first day, respectively. Hougan has highlighted that Solana’s market capitalization is 1/20th the size of BTC and less than 1/4th the size of ETH. Based on this, the volume for an SOL ETF is expected to be smaller than that of ETFs based on the two leading crypto assets. According to data shared by Balchunas, BSOL recorded an impressive volume of $10 million in the first 30 minutes of trading, hinting at initial demand. This amount surged to approximately $33 million by the half-day mark and hit $56 million by the end of its first trading day. According to the analyst, BSOL had a strong start, noting that its “$56m is the MOST of any launch this year.. More than XRPR, SSK, Ives and BMNU.” Crypto ETFs Launch Amid Government Shutdown BSOL was among the crypto ETFs launched on October 28 despite the US government shutdown. As reported by NewsBTC, Bitwise, for its Solana Staking ETF, and Canary Capital, for its spot Litecoin (LTC) and Hedera (HBAR) ETFs, filed 8-A forms on Monday to launch the investment products this week despite the government shutdown. Notably, the Securities and Exchange Commission (SEC) was set to approve over a dozen altcoin ETFs between October and November after delaying the decision deadline and releasing new generic listing standards for the products. Related Reading: Bitcoin Obsession Costs Saylor — S&P Tags Strategy As ‘Junk’ However, investors expected that the long-awaited green light would be delayed until the end of the government shutdown. Journalist Eleanor Terret explained that the launch was possible because an open government isn’t required and the 8-A filings are “just as important” as the S-1 forms, as they formally register ETF shares under the Securities Exchange Act of 1934. As a result, after the NYSE certified all the filings for the ETFs, they could start trading on Tuesday. Meanwhile, Grayscale’s Solana Trust (GSOL) will convert into an ETF on Wednesday. Featured Image from Unsplash.com, Chart from TradingView.com
Following a massive Q3 performance, Solana (SOL) has kicked off “Uptober” with a bounce, attempting to reclaim a crucial area as support to continue its bullish rally. Some analysts have suggested that the cryptocurrency is ready to challenge the recent highs and enter a new price discovery phase. Related Reading: BNB Eyes New Highs As Price Reclaims $1,000 – Is A 30% Rally Coming? Solana Starts ‘Uptober’ In The Green After the recent market correction, Solana has started the new quarter with a 7.3% bounce from yesterday’s lows. Last week, the cryptocurrency fell from its recent highs and hit a local low of $190 after closing below the $200 support for the first time in nearly a month. Over the weekend, the altcoin reclaimed the crucial barrier and attempted to turn the $205-$210 area into support during the last two days of September. After closing the month around the $208 level, SOL’s price bounced 5.3% on Wednesday morning toward the $220 mark. Some market watchers previously noted that $218 level was the most important level for the cryptocurrency’s recovery, as the largest supply wall exists around this level. This level coincides with Solana’s $120-$220 macro range high. Analyst Crypto Jelle considers that SOL “is ready for its second expansion wave for the cycle” after months of re-accumulation, the September rally, and the successful retest of the breakout level. Amid today’s pump, the analyst affirmed that the cryptocurrency has “one last hurdle to overcome” before the rally to new highs begins. Per the post, once Solana turns the $250 level into support, the altcoins will be “in for a great end of the year.” Similarly, Altcoin Sherpa suggested that SOL will likely rally toward the $230-$235 area and above if Bitcoin (BTC) and the crypto market remain stable. Corporate Momentum, ETFs To Fuel Q4 Rally Solana’s momentum has been partially driven by growing corporate interest in the cryptocurrency, with SOL-focused Digital Asset Treasuries (DATs) pouring billions of dollars into the strategies over the past few months. On October 1, Nasdaq-listed VisionSys AI Inc. announced a $2 billion SOL-based treasury strategy in partnership with Marinade Finance, Solana’s leading staking protocol. The initiative aims to “strengthen VisionSys’s balance sheet, enhance liquidity, and create long-term shareholder value through the strategic acquisition and staking of Solana (SOL),” the announcement reads. Marinade Finance will serve as VisionSys’s exclusive staking and ecosystem partner, and the program’s first phase is set to acquire and stake $500 million in SOL within the next six months. Additionally, the pending approval of multiple crypto-based exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) has raised expectations for an October rally. In August and September, the regulatory agency pushed its final decision deadline for multiple crypto investment products, including SOL-based ETFs, between mid-October and mid-November. Related Reading: Ethereum Ready For Round 2? Analyst Forecasts Early October Rally Amid $4,200 Retest On Monday, Senior ETF analyst Eric Balchunas affirmed that “the odds are really 100% now.” “Generic listing standards make the 19b-4s and their ‘clock’ meaningless,” he explained, adding, “That just leaves the S-1s waiting for formal green light from Corp Finance. And they just submitted amendment #4 for Solana. The baby could come any day. Be ready.” As of this writing, Solana is trading at $219, a 11.1% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
As Solana (SOL) taps the $225 barrier, Bitwise’s CIO forecasted that a bullish Q4 rally might be brewing for the altcoin if it follows Bitcoin (BTC) and Ethereum’s (ETH) recipe. Related Reading: Bitcoin Breakdown Averted? Analyst Says This Level Will Determine BTC’s Fate Solana To Follow BTC, ETH’s Recipe? On Tuesday, Matt Hougan, CIO at Bitwise, affirmed in a new memo to clients that the recipe for strong returns has been clear over the past 18 months: “Take one part ETP inflows, add strong corporate treasury purchases, and voilà—you get big returns.” Hougan explained that BTC followed this recipe since January 2024, while ETH discovered the same formula in April 2025. “It’s no surprise that the recipe works. It’s classic supply and demand,” he stated, adding that “all the ingredients are there for an epic end-of-year run for Solana.” As the CIO highlighted, multiple issuers, including Bitwise, Grayscale, and VanEck, have filed to launch spot SOL exchange-traded products (ETPs), which are expected to be approved at the start of Q4. As reported by NewsBTC, the US Securities and Exchange Commission (SEC) announced last month that it had pushed back its decision on Bitwise, 21Shares, VanEck, Grayscale, and Canary Capital’s spot SOL exchange-traded funds (ETFs) for two months, pushing it to October 16, 2025, “meaning we may have multiple issuers pushing spot Solana ETPs in Q4.” Meanwhile, three major firms, Galaxy Digital, Jump Crypto, and Multicoin Capital, recently secured $1.65 billion in cash and stablecoins to launch a publicly traded SOL-focused treasury company, Forward Industries, to purchase SOL, stake it, and generate excess return. Hougan also noted that Forward Industries named Kyle Samani, who has been among the cryptocurrency’s most consistent promoters, as chairman. To Bitwise’s CIO, if Samani can “carry the Solana message” like Michael Saylor and Tom Lee have done with Bitcoin and Ethereum, it will help drive investor demand. SOL’s Secret Ingredient Hougan pointed out that the existence of ETPs and treasury companies does not guarantee demand, adding that there must be fundamental reasons for investors’ interest in those vehicles. “Solana is an Ethereum competitor,” he asserted, “it’s a programmable blockchain designed to host stablecoins, tokenized assets, and decentralized finance applications, among other things.” The blockchain recently approved a major technical upgrade that will make it one of the fastest networks in the world. Additionally, it is also third in stablecoin liquidity among programmable blockchains and fourth in tokenized assets, recording rapid growth in this sector. Nonetheless, he argued that there’s a key difference between SOL and the two leading cryptocurrencies. While Bitcoin’s market capitalization sits around $2.2 trillion, and Ethereum’s is near the $530 billion mark, Solana’s market capitalization is around $120.8 billion, 1/20th the size of BTC and less than 1/4th the size of ETH. “Scaled for the size of the blockchain, a relatively small amount of flows into Solana could significantly impact prices,” Hougan explained. Related Reading: Worldcoin Jumps 42% Following Eightco’s Announcement Of First WLD Treasury Strategy He detailed that Forward Industries’ $1.6 billion purchase of SOL shares would be the equivalent of $33 billion in BTC purchases, noting that this could be slightly offset by Solana’s higher annual inflation rate of 4.3%, versus Bitcoin’s 0.8% and Ethereum’s 0.5%. “The setup is still attractive,” he concluded, suggesting that investors keep their eyes on Solana in the coming months. As of this writing, Solana is trading at $222, a 5.1% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On Friday, VanEck, asset manager and cryptocurrency exchange-traded fund (ETF) issuer, announced a new filing for a spot Solana ETF backed by JitoSOL with the US Securities and Exchange Commission (SEC). This marks a significant change from other crypto ETFs as it would be the first fund to utilize a liquid staking token. A New Era For Liquid Staking? JitoSOL functions as a liquid staking token on the Solana blockchain, representing both staked SOL and the rewards associated with it. This structure allows users to stake their SOL through the Jito Network while retaining the liquidity necessary for participation in decentralized finance (DeFi) applications. Consequently, VanEck’s introduction of a new spot Solana ETF could provide investors with new opportunities to benefit from the expected growth of the Solana ecosystem. Related Reading: Why August Could Be Remembered As A Major Trap For Bitcoin And Crypto Market This initiative comes on the heels of new regulatory guidance from the SEC regarding liquid staking activities. Under the administration of President Donald Trump, there has been a concerted effort to position the United States as the global leader in cryptocurrency. The Securities and Exchange Commission’s recent shift in approach reflects this vision, as it aims to clarify the regulatory landscape for the broader digital asset market, a significant departure under former Chair Gary Gensler. Nine Solana ETF Applications Await SEC Green Light In August of this year, a coalition of influential organizations, including Jito Labs, VanEck, Bitwise, the Solana Policy Institute, and Multicoin Capital Management, submitted a joint request to the SEC seeking approval for liquid staking in Solana ETF applications. The letter emphasized the operational advantages that liquid staking can offer for potential Solana ETF issuers, such as enhanced network security through increased staking participation, a wider array of investment options for market participants, and potential new revenue streams for ETF providers. With at least nine Solana ETF filings currently awaiting SEC approval, it’s clear that interest in this area is on the rise. Significant progress toward approval was signaled two months ago when VanEck’s first spot Solana ETF appeared on the Depository Trust & Clearing Corporation’s website under the ticker VSOL. Related Reading: How High Can Shiba Inu Climb In 2025? Analyst Gives Candid Outlook Importantly, the SEC has also signaled that, under specific conditions, activities related to liquid staking may not fall under the definition of securities as outlined by the Securities Act of 1933 and the Securities Exchange Act of 1934. Paul S. Atkins, the newly appointed SEC Chairman, underscored the agency’s commitment to providing clear regulatory guidance for innovative financial practices. He described the staff statement on liquid staking as a crucial measure for defining which crypto asset activities lie outside the SEC’s jurisdiction. On Friday, VanEck’s new spot Solana ETF application caused SOL’s price to surge by double digits, recording a 10% increase in the 24-hour period that brought the cryptocurrency close to the $200 threshold. Featured image from DALL-E, chart from TradingView.com
Amid the recent market pullback, Solana (SOL) is attempting to reclaim a crucial area to continue with its bullish rally. Some analysts have suggested that the cryptocurrency will likely break out to new highs if a key support level is held. Related Reading: Cardano (ADA) Remains Green Despite Market Pullback – Is It Ready For A 70% Run? Solana Back Below $200 Earlier this week, the market soared under the lead of the two largest cryptocurrencies. Bitcoin (BTC) hit a new all-time high (ATH) of $124,000, and Ethereum (ETH) hit a multi-year high of $4,788 in the early hours of Thursday. Nonetheless, higher-than-expected macroeconomic signals and the US’s decision not to purchase BTC for its Strategic Reserve sent the market into a nosedive, with most tokens bleeding throughout the day. Solana, which had just climbed to an eight-month high of $209, saw a 10% drop from the highs, retesting the recently reclaimed $190 support level. Price continues to dip after the US Securities and Exchange Commission (SEC) announced it had pushed back its decision on multiple Spot SOL exchange-traded funds (ETFs). “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, and the issues raised therein,” the regulatory agency stated. The SEC delayed the final deadline for the decision on Bitwise, 21Shares, VanEck, Grayscale, and Canary Capital Solana ETFs for two months, pushing it to October 16, 2025. Despite the delay, ETF expert James Seyffart suggested that the SEC’s decision is not a bad sign, adding that he expects standard spot SOL ETFs to be approved by mid-October “at the latest.” The altcoin dropped to the $188 area before bouncing. After the brief market recovery, SOL continued to retest the $180-$190 area, hovering between the $184-$186 support zone throughout Friday afternoon. Last Dip Before New Highs? Analyst Ali Martinez offered a positive outlook for the cryptocurrency, affirming that Solana might be offering “a final buy-the-dip chance” before a potential 100% rally from current levels. The analyst pointed to a six-month ascending triangle pattern on the altcoin’s chart, which targets the $360 area once it breaks out of the formation. Notably, SOL has retested the pattern’s resistance twice since the July breakout, with its latest rejection occurring on Thursday. Amid the recent performance, Martinez also noted that wallets holding over 10,000 SOL tokens hit a new ATH this week, with 5,224 wallets holding around $2 million worth of Solana each. Related Reading: Ethereum Eyes ‘Final Boss’ Level, But Analyst Says Weekly Close Is Key For Price Discovery Run Meanwhile, Sjuul from AltCryptoGems asserted that the cryptocurrency is “trading in a perfect uptrend, already tested the resistance at $200 three times,” highlighting SOL’s four-month ascending channel. To the market watcher, Solana will likely break out and move to ATH levels soon if it holds above the $180 level, which has been a crucial support and resistance area for the altcoin this cycle. As of this writing, SOL is trading at $184.9, a 4.7% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
As the crypto market moves sideways, Solana (SOL) compresses between two key levels. Some analysts suggest that the cryptocurrency is about to break out and reclaim a crucial resistance level, which could trigger the long-awaited retest of the $200 barrier. Related Reading: Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm? Solana Holds Key Support After recovering from last month’s downtrend, Solana has been attempting to reclaim the crucial $160 level to continue its bullish rally. The cryptocurrency traded between the $140-$180 range for two months, but briefly lost its post-breakout range in late June. Two weeks ago, SOL fell below the $130 area, hitting a two-month low of $126 on June 22. Since then, the altcoin has recovered, fueled by last week’s launch of a Solana staked crypto Exchange-Traded Fund (ETF) in the US by Rex Shares. Following the news, Solana’s price jumped toward the $160 resistance level but was rejected, hovering between the $145-$155 price range for the past week. On Tuesday, SOL fell below the $150 level, hitting the $147 support before bouncing. Analyst Ali Martinez noted that the $147.59 area is one of the most important support levels for Solana, as losing this level could trigger a pullback to the next key zone around the $141 mark. Similarly, market watcher Man of Bitcoin affirmed that SOL’s key support to maintain is around $141.91, adding that “a sustained break below this level would suggest that wave-C of (ii) is already underway.” The analyst previously warned that there is a potential scenario “with one more low in wave-5,” if the cryptocurrency doesn’t hold about the $148 mark. However, maintaining this support would build a base to target the local highs. SOL About To Retest $160? Analyst Carl Runefelt from The Moon Show affirmed that SOL is “about to break off” a triangle formation and test the $162 resistance. As the price compresses between the upper and lower boundaries, the analyst suggested that the cryptocurrency’s breakout is around the corner. Notably, Solana has been forming a one-week symmetrical triangle pattern in the daily chart. If the cryptocurrency successfully breaks above the $152-$153 zone, it could see a 10.87% jump toward the technical target of $167. The Cryptonomist highlighted that SOL broke out of a multi-day diagonal resistance on Sunday, which was retested and confirmed as support after bouncing around the $147 twice since the breakout. Related Reading: 50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target The analyst considers that the cryptocurrency is preparing for a continuation of its rally, targeting the one-week high and resistance of $160. Meanwhile, Crypto Jelle noted that despite the April downside deviation, Solana continues to trade within its $125-$180 Macro Range, currently hovering around the mid-range. To him, “it looks like it’s just waiting for BTC to break out. Once it reclaims $160, $200 should come quickly. Above there, new all-time highs are within reach.” As of this writing, Solana is trading at $151.51, a 3.6% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Solana (SOL) has retested a crucial resistance level after recovering the $150 level over the weekend. The surge, fueled by the upcoming launch of a SOL-based staked exchange-traded fund (ETF), has led some analysts to forecast a rally toward the next key target. Related Reading: Bitcoin Price At $145,000 In September? Bullish Dojis Suggest Upward Move Solana Staked ETFs Coming On Wednesday On Monday, Solana’s price soared to a key resistance level following the introduction of “the first-ever Solana staked crypto ETF in the US.” Rex Shares announced it will launch a Solana-based staked ETF this Wednesday, aiming to offer exposure to SOL and staking rewards. According to the X post, the REX-Osprey ETF will track SOL’s performance while “generating yield through on-chain staking,” starting a “new era of yield-generating crypto exposure.” As a result, Solana climbed to the $160 barrier, which led to nearly $9 million in short positions liquidated on Monday afternoon. Market Watcher Daan Crypto Trades considers Solana “bounced nicely over the weekend” but has yet to turn the Low Timeframe (LTF) trend around. He explained that reclaiming the $159-$167 area is necessary to aim for higher levels. Additionally, the Daily 200-day Moving Average (MA) and Exponential Moving Average (EMA) are currently located within this range. “I would want to see price trade back above that to start targeting the $180-$200 region again,” he detailed. Nonetheless, the trader questioned whether a Solana spot ETF-driven rally will fuel the cryptocurrency’s run. Notably, multiple investment firms, including Grayscale, VanEck, 21Shares, and Bitwise, have filed with the Securities and Exchange Commission (SEC) to launch a spot SOL ETF in the US. According to recent reports, the investment products have a “high likelihood” of being approved in the coming weeks, which has seemingly fueled investors’ expectations of a bullish “Solana Summer.” “The big question is how much demand there will be,” Daan asserted, noting that Ethereum (ETH) sport ETFs, approved in July 2024, had a disappointing launch and “only started seeing decent inflows about a year later.” SOL Ready For Another Breakout? Following the ETF-fueled breakout, analyst Hardy noted Solana’s “Textbook move, clean breakout, clean retest, and pump,” which could trigger a run toward the $200 barrier. Notably, the cryptocurrency saw a remarkable performance over the weekend, reclaiming the $144-$148 crucial area and breaking past the $150 mark. Amid this performance, the analyst highlighted that Solana had broken out of its local downtrend line after reclaiming the $148 resistance and was retesting the breakout zone. He explained that there is “Juicy liquidity sitting above, ready to be taken,” adding that Solana needed to hold the $150 support to continue its bullish run toward the next target. Related Reading: Analyst Reveals Rational Behind XRP Price Reaching $9.5 And $37.5 Meanwhile, analyst Crypto Batman considers that Solana is “setting up very nicely” after the $160 retest. Per the post, “It has broken out from a bullish flag pattern that bottomed at the 0.618 Fibonacci level, a clear sign of impulsive strength in the trend.” It’s worth noting that SOL has been trading within the bullish formation since the May breakout, hovering between the $130 and $180 range for nearly two months. The analyst forecasted that a quick retest to close the bullish Fair Value Gap (FVG) and the pattern’s upper boundary, around the $148 area, “could set the stage for the next leg.” As of this writing, Solana is trading at $155, a 2% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Solana is currently in a retracement that unwound most of its late-May upside. After a monthly high of $179.68 on May 22, spot prices lost traction and declined to $148.00 by June 18, marking a 14.6% slide. Futures tracked the spot decline closely, ending the period down 11.2% at $148.30. Price action was defined by […]
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JPMorgan Chase & Co. Analysts have made a significant projection regarding the potential impact of a new wave of exchange-traded funds (ETFs) focused on alternative crypto assets. Should these funds receive the green light from the US Securities and Exchange Commission (SEC), they could attract inflows of up to $14 billion, marking a notable development in the evolving landscape of cryptocurrency investments. JPMorgan Highlights Growing Interest In Alternative Crypto ETFs The analysts specifically highlighted the anticipated interest in proposed ETFs for Solana and XRP. They estimate that Solana ETFs could draw between $3 billion and $6 billion within six to twelve months post-approval, while XRP funds might see inflows ranging from $4 billion to $8 billion over the same time frame. Related Reading: Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next This optimism is grounded in the observed adoption rates of existing spot cryptocurrency ETFs. For context, Bitcoin (BTC) funds currently hold approximately $108 billion in assets, which represents about 6% of Bitcoin’s market capitalization since their introduction a year ago. Meanwhile, Ethereum (ETH) exchange-traded funds have accumulated $12 billion in just six months, translating to a 3% penetration rate of Ethereum’s market value. While JPMorgan anticipates that Bitcoin will remain the dominant choice for investors, the interest in Solana and XRP underscores a growing diversification within the crypto investment community. However, the analysts noted that the key question remains: how much demand exists for additional crypto products? They expressed uncertainty about whether the launch of new exchange-traded products (ETPs) will significantly impact the market. Signs Of Industry Growth Post-Trump Election The SEC has recently received numerous applications for funds tracking various cryptocurrencies, including XRP, Solana, and Litecoin. This influx of filings signals a broader industry push to make cryptocurrencies more accessible to retail investors. In addition, the regulatory landscape has been particularly dynamic in light of the recent election of Donald Trump, who has shifted from being a Bitcoin skeptic to a supporter of digital assets. His administration has already shown a willingness to align with the interests of the crypto community, notably by appointing Paul Atkins, a proponent of cryptocurrency, as the new SEC chair, replacing the previous chair Gary Gensler, who was more critical of the industry. Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ Despite the positive outlook, JPMorgan cautioned that progress on ETFs beyond Bitcoin and Ether may be slow due to the recent change in administration and the ongoing lack of regulatory clarity. Nevertheless, the analysts remain optimistic, predicting that more exchange-traded fund applications will be submitted—and potentially approved—in 2025. At the time of writing, XRP is trading at $2.67, posting gains of nearly 6% in the 24-hour time frame. Solana, on the other hand, is trading at $188, up 3% in the same time frame. Featured image from DALL-E, chart from TradingView.com
Solana (SOL) has seen a 12% retrace from the Monday high, falling to a crucial zone in the last 24 hours. Some analysts remain bullish ahead of Trump’s inauguration, while others have warned that the cryptocurrency’s bullish momentum could be in danger if the current levels are lost. Related Reading: Ethereum: Analyst Says $7,000 Target ‘Is Looming’ As Price Retests Crucial Level Solana Holds Key Support Zone Amid the market retrace, Solana has also lost its New Year highs, falling to its lowest price since the late December retrace. On Monday, SOL registered a 17.3% increase from its yearly opening after retesting the $220 mark. However, its bullish momentum was halted after Bitcoin’s price dropped nearly 8% in 24 hours. After hovering between the $190-$199 prince zone, Solana fell below the zone’s lower range, dropping to its current low of $182 on Thursday. In the last 24 hours, the cryptocurrency bounced above the $190 range before dipping to the $185 support zone again. A crypto investor pointed out that, despite the latest drop, Solana still holds the price target of $325, as it didn’t fall to the previous low of $175. The investor suggested that “as the downtrend is sharp, the uptrend is likely to be sharp as well,” adding that a “V-shaped rebound is likely to occur. The target price may be reached faster than the time shown in that pattern.” Trader Crypto General noted that SOL has tested the previous breakout level during the “much-needed correction.” Ahead of the post-election pump, the $180-$185 zone served as a key resistance level, which was later broken when Solana climbed above $200. Moreover, this level was retested as support during the late December retraces, serving as a bounce zone for the cryptocurrency. Crypto General suggested that the following days will be “very bullish for the market,” citing Trump’s upcoming inauguration as a potential catalyst. With Trump taking the oath, markets are expected to start a parabolic season, taking sol also along with them. My target is around $285. Analyst Warns Of These Levels For SOL Crypto analyst Ali Martinez warned investors about SOL’s current levels, stating that the cryptocurrency “must not break below $180.” A potential drop below this support zone could send Solana into a 20% to 30% decline. Martinez stated that the $150 to $130 range, not seen since September and October, would become “a likely target.” Similarly, analyst Jelle recently stated it would be “Worth keeping an eye on SOL/BTC for the coming weeks.” According to the post, SOL’s trading pair against Bitcoin has been at a key zone, suggesting that Solana should reclaim the 0.0022 level soon to continue its bullish momentum, as it currently sits at 0.0020. Related Reading: Bitcoin Eyes Potential Rebound To $98,600, But Analyst Suggests Caution Meanwhile, another market watcher noted that SOL’s performance during Q1 could be dampened due to “over-saturated positioning, a cooling off of pump fun metas, and the looming FTX SOL unlocks that was sold some time ago and have started unlocking, with the biggest unlock coming in March.” However, he considers that “from Q2 onwards,” Solana will be a “major winner” due to the possible launch of Solana-based exchange-traded funds (ETFs) and the “potential for new Pump.fun metas” reigniting its bull case. Based on this, the analyst predicts that SOL could hit $400-$500 this year. As of this writing, Solana is trading at $191, a 3.3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On Thursday, Fox reporter Eleanor Terret revealed that the US Securities and Exchange Commission (SEC) is actively engaging in discussions with several asset managers regarding the launch of the new spot Solana ETF market. The firms involved include VanEck, 21Shares, Canary Capital, and Bitwise, all seeking to introduce products tied to the Solana price. SEC Progresses On Solana ETF Talks According to sources familiar with the matter cited by Terret, discussions between SEC staff and issuers are currently “progressing.” The SEC is reportedly reviewing S-1 filings, critical to the Solana ETF approval process. Terret further disclosed that there is growing optimism among stakeholders that the industry may soon see 19b4 filings from exchanges representing these issuers, a key step necessary to move forward with ETF listings. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors These 19b4 forms will be submitted by exchanges, such as the Chicago Board Options Exchange (CBOE), on behalf of the issuers, seeking SEC approval to list the proposed ETFs. Upon receiving these filings, the SEC has a 240-day window to either approve or deny the products. To date, VanEck and 21Shares, who are also in the Ethereum and Bitcoin ETF markets approved by the agency earlier this year, along with Canary Capital, have submitted their S-1 filings for a Solana ETF, while Bitwise recently announced its intention to file earlier this week. However, Terret notes that the submission of 19b4 filings does not guarantee approval. Previous applications from VanEck and 21Shares faced setbacks, with their filings removed from the CBOE’s website in August. The reporter claimed that industry observers speculated that the regulatory agency, under its chairman Gary Gensler, was reluctant to approve such listings because of a tougher regulatory stance. Potential Shift In SEC Approach For 2025 Despite these previous setbacks, there is renewed optimism among investors following recent engagements with SEC staff and the anticipated pro-crypto policies of the incoming administration led by President-elect Donald Trump. This change in leadership is expected to foster a more favorable environment for cryptocurrency-related financial products, potentially paving the way for a Solana ETF approval in 2025. The anticipation around the Solana ETF gained additional traction after Gensler announced his departure from the SEC, confirming that January 20, 2025, will be his last day in office. This announcement follows months of speculation regarding his future, particularly as Donald Trump had previously indicated intentions to replace Gensler on his first day in office. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Besides the Solana ETF, other cryptocurrency ETFs, including those for XRP and Hedera’s HBAR token, are also in the pipeline and may benefit from the evolving regulatory landscape. As the situation unfolds, the potential for a more accommodating regulatory approach could significantly reshape the cryptocurrency investment landscape in the United States, even more so with the plans Trump laid out during his presidential campaign. At the time of writing, SOL is trading at $261, up 25% in the weekly time frame, marking a new all-time high for what is now the fourth largest cryptocurrency on the market. Featured image from DALL-E, chart from TradingView.com
On Wednesday afternoon, Bitwise Investment, a prominent asset manager and exchange-traded fund (ETF) issuer, submitted an S-1 form application for a spot Solana ETF to the US Securities and Exchange Commission (SEC) in the state of Delaware. This move positions Bitwise in the race for regulatory approval to launch an index fund that invests in […]
Following Donald Trump’s victory in Tuesday’s election, members of the crypto community are celebrating a renewed sense of hope for their ETF ambitions. The change in political leadership is seen as a potential turning point for the approval of cryptocurrency ETFs focused on altcoins such as Solana, XRP and Litecoin. Solana Gains Ground In ETF […]
Asset manager Canary Capital has officially filed for a spot Solana ETF in the United States, following in the footsteps of investment firm VanEck, which introduced its own application four months ago. The Solana ETF move was confirmed minutes ago by Bloomberg ETF expert James Seyffart on social media platform X (formerly Twitter). Canary Capital […]
Despite growing rumors that the world’s largest asset manager may file a spot Solana ETF (exchange-traded fund) with the US Securities and Exchange Commission (SEC), BlackRock executive Samara Cohen has dismissed the possibility, at least in the near future. BlackRock Pours Cold Water On Solana ETF Hopes In a recent interview with Bloomberg, Samara Cohen, […]
The Chicago Board Options Exchange (Cboe), known for trading Bitcoin exchange-traded funds (ETFs) approved earlier this year, has thrown its support behind the spot Solana ETF applications filed by asset managers VanEck and 21Shares. On Monday, the Cboe submitted a request to the US Securities and Exchange Commission (SEC) seeking to list ETFs tied to […]
Leading asset manager and Bitcoin Exchange Traded Fund (ETF) issuer VanEck has officially filed a Spot Solana ETF with the US Securities and Exchange Commission (SEC), fueling bold growth predictions for the Solana ecosystem. Market-making firm GSR Markets recently released a report shedding light on the potential impact of a Solana ETF and highlighting the platform’s emergence as part of the “Big Three” in the crypto space. Speculation Of A Solana ETF Approval GSR’s report highlights Solana’s rapid rise within the cryptocurrency industry, positioning it as a major player alongside Bitcoin and Ethereum. With the Bitcoin ETF market already approved and Ethereum about to launch a spot ETF in the US, GSR predicts that it’s only a matter of time before Solana follows suit, potentially making the biggest impact. Related Reading: Bitcoin Miner Selling Cools Off – Is This The Breakout Moment? GSR’s analysis highlights three key technological advancements that set Solana apart from its competitors. Firstly, Solana’s proof-of-history enables validators to produce blocks efficiently, resulting in remarkable speed and scalability advantages. Second, Solana’s parallel transaction processing enables increased throughput and takes advantage of improvements in computing speed. Finally, the company said Solana’s architecture positions it to solve the “blockchain trilemma” by achieving global state synchronization at “unprecedented speeds” as hardware and bandwidth costs decline. In addition, GSR’s report addresses the likelihood of Solana securing a spot digital asset ETF. While the current regulatory framework requires a federally regulated futures market and a futures-based ETF before a spot product can be considered, GSR believes that the potential for change shouldn’t be underestimated. The company also claims bipartisan support for the crypto industry, and shifting attitudes among lawmakers indicate a more favorable environment for digital assets. A Trump administration and a liberal SEC commissioner could further pave the way for the launch of spot digital asset ETFs, creating opportunities for Solana and other cryptocurrencies, the report said. Projected Impact On SOL’s Price GSR emphasizes the importance of decentralization and potential demand in determining the next spot digital asset ETF. Factors such as permissionless participation, developmental control, token allocation, and stake characteristics contribute to a blockchain’s level of decentralization. Meanwhile, as indicated by metrics like market cap, potential demand serves as a crucial factor for issuers when assessing future inflows. GSR combines decentralization and demand scores to create an ETF Possibility score, which highlights Ethereum and Solana as leading contenders for the next spot in digital asset ETF. Related Reading: Dogecoin To The Moon? Crypto Analyst Predicts 440% Price Increase Drawing parallels to the effect of spot Bitcoin ETFs on Bitcoin’s price, GSR estimates the potential impact of a Solana ETF on SOL. Adjusting for Solana’s smaller market cap relative to Bitcoin, GSR predicts a 1.4x to 8.9x increase in SOL’s price under different scenarios. However, the report acknowledges that the impact could be even higher, considering SOL’s active usage in staking and decentralized applications. In the event of a spot ETF approval, GSR suggests that the potential upside for SOL presents a significant opportunity in the market. As investor excitement over the development became apparent, SOL’s price reached a weekly high of $151 on Thursday, but in the past few hours, SOL has dropped nearly 4% to a current trading price of $143. Featured image from DALL-E, chart from TradingView.com