Solana is on fire! With over 30 million monthly active addresses, a brand new all-time high, Solana is experiencing a surge in activity. And that’s not all!
This surge coincides with digital asset manager 3iQ’s initiative to list a Solana-based exchange-traded fund (ETF) on the Toronto Stock Exchange (TSE). If approved, this would be the first Solana ETF in North America, potentially revolutionizing crypto investments and boosting Solana’s market presence.
Could this be a game-changer for crypto investing? Read more to find out.
3iQ’s plan to launch the first Solana ETF in Canada shows strong institutional interest in Solana. This application could attract more crypto investors and traders to the Solana network, increasing its usage and activity. Anticipation of the ETF listing has already contributed to a rise in monthly active addresses on the Solana blockchain, reaching an unprecedented 30 million.
As of June 22, 2024, Solana’s price stands at $135.58, showing a positive trend. Yesterday, Solana closed at around $134.64, and this week’s peak was over $151.18 on June 16. Despite starting the year strong at nearly $110 and peaking at $202 on March 31, Solana’s momentum has recently slowed. However, recent trends indicate some recovery.
Price Trends
Solana’s 24-hour trading volume is 132.561 million, with the highest weekly volume of 235.742 million recorded on June 18. The 30-day price change stands at -13.6%, with a 7-day change of -6.3%, but the 24-hour and 1-hour changes are positive at +2.1% and +0.6%, respectively.
The combination of 3iQ’s ETF application and Solana’s rising active addresses points to an exciting phase for Solana and the broader cryptocurrency market. As institutional interest grows, Solana could see further adoption and innovation, cementing its position in the blockchain ecosystem.
Currently, SOL is the largest cryptocurrency by market cap, valued at $62,690,844,487, and the fourth largest blockchain, with a Total Value Locked (TVL) of $4,150,370,987 and a dominance of 4.40%.
Also Read: Will There Be an Altcoin Season in 2024? Expert Analysis
Ready to join the Solana revolution? Explore the network and see what it has to offer!
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