News View Non-AMP

Matrixport’s Daniel Yan Eyes Solana as the Next Big ETF Contender

Published by
Qadir AK

As the crypto market eagerly awaits the potential approval of a Spot Ethereum ETF by the U.S. SEC, Matrixport co-founder Daniel Yan has sparked discussions about the implications for Solana (SOL). Yan’s insights suggest that, following Ethereum’s lead, Solana could emerge as the next major player in the crypto space. Yan suggests that investors consider buying Solana against Ethereum due to several factors.

Solana as the Next ETF Candidate

Firstly, he notes that Solana could be the next cryptocurrency in line for ETF approval, following the potential approval of an Ethereum ETF. This is based on the historical trend observed in the market, where approving a Bitcoin ETF led to increased attention and investment in Ethereum. Applying this pattern to Solana, Yan believes that if Ethereum receives ETF approval, it could pave the way for similar attention toward Solana, potentially driving its price higher.

Secondly, Yan points out that historically, the price of Ethereum has experienced significant gains after the approval of a Bitcoin ETF. Following this logic, he suggests that buying Solana against Ethereum could be a lucrative trade, especially considering that Solana’s price surge may be less crowded than Ethereum’s recent rally. This suggests that there may be more potential for significant gains in Solana than Ethereum, especially if investors begin shifting their focus to Solana following positive developments in the Ethereum market.

These insights come at a time when senior analysts have raised their estimates for Ethereum ETF approval to 75%, signaling strong regulatory progress. The anticipation of an Ethereum ETF has not only boosted Ethereum’s price but has also positively impacted the broader altcoin market, including Solana.

Why Solana is Up?

With possible ETH ETF approval buzz, Solana is flying high. Recently, Solana’s price has made a significant breakthrough, rising from $170 to $180 and potentially aiming for $200 soon. This price increase comes with a notable rise in trading volume, indicating strong buying pressure. The move past $170 overcame a key resistance level, suggesting that bulls are gaining control. Solana has also moved above the 50-day and 200-day moving averages, signaling a bullish trend. The widening of the Bollinger Bands indicates increased volatility and potential for further gains.

Plus, on-chain data supports this bullish outlook. The number of new addresses on the Solana network has been steadily increasing, reflecting growing interest and adoption. In May 2024, the number of new addresses is continuing to rise, showing more users joining the network.

With this speed, Will we get Solana ETF by 2025? Only time will tell.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin Price Tumbles While Fed Rates Remain Flat—Opportunity or Red Flag?

Ever since the Fed's rates were slashed below 5% back in October 2024, they have…

July 31, 2025

Bitcoin (BTC) Price Falters as Fed and BoC Hold Interest Rates Steady

Bitcoin (BTC) price has gradually lost its initial July bullish momentum during the past three…

July 31, 2025

Solana Enters a Crucial Zone: Here’s When the SOL Price May Hit a New ATH Above $300

Solana (SOL) is navigating a pivotal market phase as it hovers near a critical resistance…

July 31, 2025

Fed Holds Interest Rates Steady, Citing Trump’s Tariffs Despite Push for Cuts

The Federal Reserve has decided to keep its key interest rate steady at around 4.25%-4.5%,…

July 31, 2025

This Altcoin is at the Foothill of a Massive Explosion—Will it Follow Bitcoin & Smash a New ATH in 2025?

Litecoin (LTC) price has shown renewed momentum in recent sessions, staging a steady upward move…

July 30, 2025

Pump.fun (PUMP) Price Prediction: Can Solana Memecoin Rebound Toward $0.004 in 2025?

Pump.fun’s native token, PUMP coin, is currently trading near $0.0026, following a volatile post-ICO phase.…

July 30, 2025