Investor Interest in $SOL ETF Increases to 90% Approval Likelihood
Bloomberg Intelligence reports a 90% likelihood of US regulators approving a Solana ETF, up from 70% in February. This is significant given that the CME began listing Solana-based futures contracts in March.
- Solana futures open interest reached $5.75B, a 5% increase since March.
- Demand for Solana derivatives is 50% higher than for XRP.
- $SOL maintained a crucial support level at $140.
- Total value locked (TVL) in Solana is currently $9.5B.
- Technical analysis shows positive signals on major moving averages.
Potential spot ETF approval is anticipated on October 10, which could drive $SOL past $200.
Top Solana-Based Coins
- Solaxy ($SOLX): Over $32M in presale funding, aims to improve Solana's transaction speed and reduce congestion.
- ai16z ($AI16Z): An AI-run venture capital firm, recently peaked at a market cap of $2.6B, up 60% over the last month.
- Bonk ($BONK): The largest dog-themed meme coin on Solana, with a market cap over $1.5B and lifetime returns of 17,000%.
Increased likelihood of a $SOL ETF is positively impacting other Solana altcoins, presenting potential buying opportunities.