Solana (SOL) has surged 4.6% over the past 24 hours, trading at $196.06, as it inches closer to reclaiming the $200 milestone. This upward momentum has reignited investor interest, fueled by speculation around a proposed Solana Futures ETF and a broader recovery in the cryptocurrency market. With a trading volume of $2.33 billion and a market cap of $94.04 billion, Solana continues to solidify its position as one of the top-performing blockchain networks. Solana Futures ETF: A Game-Changer? Volatility Shares LLC has filed a proposal with the SEC for a Solana Futures ETF, offering leverage options of 1x, 2x, and -1x. If approved, this ETF would allow investors to trade Solana with both upward and downward exposure, providing new ways to profit from price movements. Solana ETF Registration Statement | Source: Volatility Shares The inclusion of a -1x inverse product is particularly noteworthy, enabling investors to hedge against price declines. Volatility Shares has already established itself in the ETF space with Ethereum futures ETFs and hybrid products. This Solana filing, though speculative, signals growing demand for regulated crypto investment products and could set the stage for a spot Solana ETF in the future. Solana Technical Outlook: Momentum Builds Solana’s price has broken out of a symmetrical triangle near $196.10, signaling bullish momentum. Immediate resistance lies at $201.75, and if this level is surpassed, the next targets are $211.55 and $218.86. On the downside, support is found at $193.24, with additional levels at $182.53 and $174.97. The RSI stands at 58.72, reflecting a strong yet balanced upward trend without overbought conditions. The 50-day EMA at $193.24 has transitioned into a support level, reinforcing the breakout’s strength. Broader Market Impact The proposed Solana Futures ETF could have far-reaching implications, attracting institutional interest and legitimizing Solana as an investment-grade asset. Analysts suggest this move could also pave the way for spot ETFs, giving investors direct exposure to Solana’s market performance. This is wild. Solana futures ETF filing bf Solana futures even exist! Oh and let’s do a 2x while we’re. Hard core.. and prob good sign Solana futures on way which arguable bodes well for spot odds. And this was supposed to be a quiet week! https://t.co/YiwauQfaji — Eric Balchunas (@EricBalchunas) December 28, 2024 As the crypto sector evolves, products like the Solana ETF highlight the growing intersection of traditional finance and digital assets. Solana’s robust blockchain infrastructure, known for its speed and low fees, adds to its appeal as a top-tier cryptocurrency poised for further growth. $BEST Wallet Raises Nearly $6M: Limited Time to Buy Best Wallet continues to make waves in the Web3 space, supporting thousands of cryptocurrencies across 50+ major blockchains, including Bitcoin and Ethereum. With user-friendly tools for buying, selling, and swapping both same- and cross-chain assets—without requiring KYC verification—the platform has become a go-to solution for crypto enthusiasts. The $BEST token presale has now raised $5.91 million, with only 15 hours remaining before the next price increase. Tokens are currently priced at $0.023375, offering an attractive opportunity for early investors to join this fast-growing ecosystem. Why Invest in $BEST? Utility-Focused: Built for DeFi, staking, and easy token claims. Expanding Ecosystem: Strategic partnerships with platforms like Pepe Unchained. Engaged Community: Active participation across Twitter and Telegram . Best Wallet is setting new benchmarks in Web3 innovation. Don’t miss this chance to secure $BEST tokens before the price increases—time is running out! The post Solana Still Eyes $200 – After 4.6% Increase Today appeared first on Cryptonews .
