Solana (SOL), some of the necessary blockchains on this planet, simply hit a brand new all-time excessive of $260. Fills for Solana’s crypto-related merchandise enhance the value of the token.
The Solana spot exchange-traded fund (ETF) has been proposed by a number of firms, together with Bitwise, VanEck, 21Shares and Canary Capital, to the Securities and Trade Fee (SEC).
The transfer got here after the fee accepted Bitcoin and Ethereum spot ETFs earlier this yr. Bitcoin now even had buying and selling choices from BlackRock and Grayscale, growing the value to $99,000.
After these fills, SOL (SOL) worth jumped 11.12% in at some point to $260. The token’s worth has soared 383% over the previous yr, decreasing Tether’s (USDT) third place when it comes to market capitalization at $130 billion.
The tokenized market capitalization elevated to $124 billion and the buying and selling quantity to $11.3 billion, a rise of 75% in a single day. The worth continues to rise to $262 on the time of writing.
In line with ChallengeLlama On November 22, Solana’s whole worth locked (TVL) elevated by 3.17% in at some point, amounting to $8.74 billion. Though not but the best, TVL numbers have elevated considerably over the previous yr, with simply $353 million as of October 2023.
All main decentralized finance (DeFi) rankings underneath blockchain climbed, starting from 3.90% to 11.50% every day. Binance staked SOL (BNSOL) even surged by triple digits, or 333% in a single month.
Solana ETF Replace
The Solana ETF in the US could seem on the inventory market subsequent yr, however the market is already assured about approval. Bitwise was already submitting S-1 filings following the three different ETF issuers, together with VanEck, 21Shares and Canary Capital.
Though the standing of those fillings can’t be determined attributable to Gery Gensler’s management on the fee, the business famous adjustments following Trump’s election victory.
Gensler additionally introduced his resignation on November 21, earlier than the beginning of the Trump administration on January 20, 2025. This transfer might enhance the value of cryptocurrency sooner or later because the newly shaped authorities needed to be friendlier and extra adaptable within the growth of digital property.