First Solana Futures ETFs Set to Launch Tomorrow
The first Solana ETFs in the US are launching tomorrow, potentially increasing institutional capital influx. The two funds from Volatility Shares LLC include:
- Volatility Shares Solana ETF (SOLZ)
- 2X leveraged Volatility Shares Solana ETF (SOLT)
Institutional interest in Solana is high. However, market volatility persists, with concerns over liquidity trends and technical setups. Key points include:
- Solana leads in transaction volume and user engagement.
- USDT trading on Solana surged by 137% after a previous 61% drop.
- DeFi trading volume hit a yearly low of $2.25 billion, with a decrease in active users.
- SOL price briefly dropped to $121.99 but has rebounded to $133.15.
Technically, if SOL surpasses the 20-day EMA at $137, a rally toward the 50-day SMA at $167 is expected. Failure to break higher may retest support levels between $110-$120, with further supports at $98 and $80.
The upcoming ETF launch could stabilize Solana's position, but ongoing market volatility may lead to sharp price movements.