As an experienced analyst, I find Solana’s (SOL) recent surge of 800% in the past year to be nothing short of remarkable. This growth rate surpasses major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which have only seen increases of 45% and 51%, respectively, since the start of the year.
Solana (SOL) has astonishingly increased by approximately 800% in the past year, surpassing the growth rates of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). As per CoinGecko’s data, Solana currently boasts a gain of around 803% over the last twelve months.
Within this time period, Ethereum has overtaken Bitcoin with approvals for Ethereum-focused funds nearing completion. It’s worth mentioning that Ethereum has experienced a significant growth of 51% since the beginning of the year, surpassing Bitcoin’s gain of 45%.
As a crypto market analyst, I’ve noticed that Bitcoin’s dominance has started to wane recently, as Ethereum and Solana tokens have gained increasing attention from investors. The surge in interest towards U.S. cryptocurrency exchange-traded funds (ETFs) has shifted focus towards these two assets. In the beginning of 2024, Bitcoin captured the headlines with a remarkable rise following the launch of the first U.S. spot ETFs for Bitcoin in January.
As an analyst, I’ve observed that the increased enthusiasm for Exchange-Traded Funds (ETFs) led Bitcoin to reach an all-time high of $73,798 in March. However, the level of demand and pricing has noticeably decreased since then.
Solana climbs on ETF optimism
As an analyst, I’ve observed an notable surge in Solana’s value lately. This uptick can be attributed to the recent filing by VanEck, a well-known provider of exchange-traded funds (ETFs), for a cryptocurrency-backed product.
As a researcher studying the cryptocurrency market, I’ve observed an impressive surge in the value of SOL tokens following their submission to the Securities and Exchange Commission (SEC). The price increase reached as much as 11% – the greatest spike since late May.
As a crypto investor, I’m always on the lookout for new investment opportunities, and I was excited to learn that VanEck, a well-known player in the ETF space, has recently filed an application for a new fund. This time around, they’re proposing the creation of the VanEck Solana Trust, which will be the first Solana ETF to be presented for approval in the United States. I’m intrigued by this development and will be keeping a close eye on its progression.
Just a few weeks following the Securities and Exchange Commission’s (SEC) approval for the launch of spot Ethereum (ETH) ETFs in the US on May 23, 2024, VanEck submits its filing.
Currently, Solana (SOL) has experienced a growth of 4.92% within the past 24 hours and is now priced at $145.69. As per CoinGecko’s latest market capitalization ranking, SOL occupies the fifth position among cryptocurrencies.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- Ethereum (ETH) Crashes Dramatically, What’s Next? Solana (SOL) Can Still Reach $200, XRP Struggling Before $0.63 Test
- ETHW PREDICTION. ETHW cryptocurrency
- Terraform Labs Reveals Key Update On Crypto Loss Claims Voting
- Major Dogecoin Downtrend Might Finally Be Over
- Lucky Animal Crossing: New Horizons Player Discovers Infinite Clam Glitch
- BREAKING: Spot Ethereum ETFs Get SEC Nod, Debut Set For Tomorrow
2024-06-28 17:49