Solana ETF hopes are growing as Donald Trump is elected 47th President of the USA, but are Donald Trump Solana hopes real fuel for SOL price?<\/p>\n
Fresh off\u00a0the newly elected 47th President\u00a0Donald Trump\u2019s victory<\/a>, Solana ($SOL) is\u00a0ready for a breakout.<\/p>\n Solana rose to $185.84, off Trump\u2019s win over Kamala Harris, but the\u00a0next step for SOL is a filing for a Solana ETF;<\/a> here\u2019s why that could be closer now than ever before.<\/span><\/p>\n The concept of a dedicated Solana ETF is not just a strategic move; it\u2019s a potential revolution for Layer One cryptocurrency chains. After Bitcoin and Ethereum successfully secured institutional funds, Solana appears next in line.<\/p>\n Canary Capital, alongside VanEck and 21 Shares, has applied for spot Solana ETFs this year, while Franklin Templeton is reportedly exploring options. Despite the excitement, regulatory challenges loom, particularly concerning the classification of cryptocurrencies and ongoing legal issues with major exchanges.<\/p>\n (SOL ETF<\/a>)<\/p>\n If approved, a Solana ETF could lead to unprecedented institutional inflows, with predictions of prices soaring north of $400; the ETF could herald a new era of growth and stability for Solana.<\/p>\n Solana\u2019s reputation as a high-speed, low-cost blockchain has made it a hotbed for meme coins and NFTs, raking in 34.3% of its revenue from these trendy sectors. Compare that to Ethereum\u2019s mere 6.6% from similar ventures, and Solana\u2019s edge in this niche becomes clear.<\/p>\n Yet, banking on such speculative assets is risky for traditional investors who prefer ETFs. The big question remains\u2014will this chaotic meme ecosystem throw a wrench in Solana\u2019s ETF prospects? The jury is out.<\/p>\n (X<\/a>)<\/p>\n Another problem Solana faces is wash trading, where SOL traders pump up trading volumes by buying and selling simultaneously. With a staggering 41.4% of its meme coin and NFT traffic caught in this web, Solana\u2019s numbers outshine Ethereum\u2019s 28.9% in 2024.<\/p>\n VanEck\u2019s Matthew Sigel notes that SOL\u2019s dirt-cheap transaction fees make it a breeding ground for such antics, and platforms like Pump.fun only fuel the fire by making memecoin trades a cinch. While this frenzy boosts activity, it casts a long shadow over the genuineness of SOL as an ETF.<\/p>\n DISCOVER:\u00a0Best New Cryptocurrencies to Invest in 2024 \u2013 Top New Crypto Coins<\/a><\/strong><\/p>\n The prospect of a Solana ETF is a double-edged sword. On one hand, it promises to attract institutional investments and elevate Solana\u2019s market standing. On the other, the SEC\u2019s scrutiny over wash trading and market manipulation poses significant hurdles.<\/p>\n Due to these concerns, VanEck\u2019s proposed spot SOL ETF includes risk disclosures, highlighting the need for transparency and regulation.<\/p>\n Challenges aside, 99Bitcoins analysts and experts like Sigel are bullish on SOL for its top-notch user experience and potential to evolve past the gambling dens of speculative trading.<\/p>\n While meme coins dominate now, the future could see Solana branching into more stable territories like decentralized infrastructure and social media platforms, redefining its role in the digital landscape.<\/p>\n Addressing Memecoin Wash Trading on the Solana Blockchain<\/p>\n The continued success of Solana in attracting usership and financial activity has rankled some in the crypto community. Some contend that most of Solana\u2019s documented 111M monthly active wallets, compared to Ethereum\u2019s\u2026 pic.twitter.com\/vch95wuEhT<\/a><\/p>\n \u2014 matthew sigel, recovering CFA (@matthew_sigel) November 4, 2024<\/a><\/p>\n\n Whether the ETF sees daylight soon or not, SOL is set to outperform Ethereum this cycle, both in price and user base. Riding on its rapid-fire latency and robust throughput, SOL is transforming from a speculative bubble into the most-used layer-1 cryptocurrency.<\/p>\n EXPLORE<\/span><\/strong>:\u00a0<\/span>20 New Crypto Coins to Invest in 2024<\/span><\/a><\/strong><\/p>\n Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/p>\n The post Will Solana Get A Spot ETF If Trump Fires Gary Gensler?<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Solana ETF hopes are growing as Donald Trump is elected 47th President of the USA, but are Donald Trump Solana hopes real fuel for SOL price? Fresh off\u00a0the newly elected 47th President\u00a0Donald Trump\u2019s victory, Solana ($SOL) is\u00a0ready for a breakout. Solana rose to $185.84, off Trump\u2019s win over Kamala Harris, but the\u00a0next step for SOL […]<\/p>\n","protected":false},"author":0,"featured_media":18439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18438"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18438"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18439"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Solana\u2019s ETF Journey: A New Dawn for Institutional Investment<\/h2>\n
The Impact of Memecoin and NFT Activities on a SOL ETF<\/h2>\n
The Path to a SOL ETF<\/h2>\n