Solana ETF and its impact

[Metha Wulandarin]

Just because of this one picture, Solana and the Solana ecosystem immediately pumped and many people thought that the Altcoin season had come when Ethereum was accepted by the ETF, all the meme tokens on the Ethereum network increased and now it's Solana's turn.

What do you think, is this interesting enough to discuss?

[Crwth]

I haven’t seen any news regarding that. I wasn’t able to see anything or even really understand what has happened with Solana. I have read the ETF for Ethereum, but not yet on SOL. Those are just rumours From what I have seen.

[salad daging]

I see this news X that the Solana ETF will happen soon but with this news it is certain that SOL will rise for starters this is no different with BTC and ETH.

So this is just a proposal hopefully closer.

[Metha Wulandarin]

I see this news X that the Solana ETF will happen soon but with this news it is certain that SOL will rise for starters this is no different with BTC and ETH.

So this is just a proposal hopefully closer.

There's no mistaking that $SOL immediately made a high pole, this is a sign that many people were carried away by the latest news from Solana and Solana's volume immediately increased but it couldn't beat BNB's volume.
this is a great sign for the future of crypto and Solana

[bee]

I haven’t seen any news regarding that. I wasn’t able to see anything or even really understand what has happened with Solana. I have read the ETF for Ethereum, but not yet on SOL. Those are just rumours From what I have seen.

It is still in the filing stage, and there are now 2 filings underway with different institutions, the SEC and the TSX^[1][2]. So we have 2 opportunities simultaneously and I hope their effects don't conflict with each other when we get different approval results.
But, I honestly wouldn't put much hope in SOL, considering that institutions I think have higher criteria for accepting more altcoins in ETF listings.

1. https://www.coindesk.com/business/2024/06/27/vaneck-files-for-solana-etf-sol-rises-6/
2. https://www.coindesk.com/markets/2024/06/20/canadas-3iq-files-to-list-solana-etp-in-toronto/

[pakhitheboss]

I came across another article on cointelegraph that Solana ETF will only possible after a chane in POTUS. The election will be held in November and if Trump wins then there are possibilities that the ETF gets approved by the SEC. Looks like the market has taken the news positively and SOL is up by 6% today. 

[Metha Wulandarin]

I came across another article on cointelegraph that Solana ETF will only possible after a chane in POTUS. The election will be held in November and if Trump wins then there are possibilities that the ETF gets approved by the SEC. Looks like the market has taken the news positively and SOL is up by 6% today.

There is a lot of news reporting that an Altcoin season will be seen after the presidential election. There is a possibility of an Altcoin season like what happened in 2021 if Donald Trump is elected president, but if instead Joe Biden is elected, it seems like it will be difficult.

[bounceback]

Could you give source information about your picture above?

Seems interested with issues make Solana pump drastically yesterday after dropping under $122 and suddenly reached to $150 just increasing significant. Bit few percent left I got back my capital because investing in Solana when price above $160 last two weeks ago and right now must be holder waiting for Solana recovery back to the higher price.
I think could be positive impact if Solana ETF approve and waiting official announcement because scare its fake news and easily for whale how to manipulate price increasing or decreasing in short term.

[Gurujebs]

Just because of this one picture, Solana and the Solana ecosystem immediately pumped and many people thought that the Altcoin season had come when Ethereum was accepted by the ETF, all the meme tokens on the Ethereum network increased and now it's Solana's turn.
What do you think, is this interesting enough to discuss?

Alot of degens enjoy Solana because it's now a place where people make money from meme, this is now a perfect way for them to make money and seeing ETF news is one way for them to milk each other liquidity.

The ETF itself I think will bring a lot of confidence to solana investors because the previous incident of FTX is drawing back some people intention to hold sol for long term but the way ETF approval is coming, it will increase more demand not just from investors but from other people that want to have Solana ETF for stock investors, it's going to erase the bad things that Solana has face over the years as a result of FTX saga.

[Metha Wulandarin]

Just because of this one picture, Solana and the Solana ecosystem immediately pumped and many people thought that the Altcoin season had come when Ethereum was accepted by the ETF, all the meme tokens on the Ethereum network increased and now it's Solana's turn.
What do you think, is this interesting enough to discuss?

Alot of degens enjoy Solana because it's now a place where people make money from meme, this is now a perfect way for them to make money and seeing ETF news is one way for them to milk each other liquidity.

The ETF itself I think will bring a lot of confidence to solana investors because the previous incident of FTX is drawing back some people intention to hold sol for long term but the way ETF approval is coming, it will increase more demand not just from investors but from other people that want to have Solana ETF for stock investors, it's going to erase the bad things that Solana has face over the years as a result of FTX saga.

If this really happens, there is a possibility that the price of Solana can catch up with the price of BNB. Demand from investors continues to rise and, in addition, demand from people who want to own $SOL, supply on the market continues to decrease. Meanwhile, this increasing demand will trigger the price of $SOL to increase, after which developers from Solana  must find a way to maintain the community's trust in Solana.

[bitmover]

If this really happens, there is a possibility that the price of Solana can catch up with the price of BNB. Demand from investors continues to rise and, in addition, demand from people who want to own $SOL, supply on the market continues to decrease. Meanwhile, this increasing demand will trigger the price of $SOL to increase, after which developers from Solana  must find a way to maintain the community's trust in Solana.

You should think in terms of marketcap and not in price terms.

Bnb marketcap is now 83 billion against 64billion for Solana.

For Solana to reach the bnb price it would need to increase by 4x its size, almost as big as ethereum marketcap, which etf was announced but not being traded yet

[Metha Wulandarin]

If this really happens, there is a possibility that the price of Solana can catch up with the price of BNB. Demand from investors continues to rise and, in addition, demand from people who want to own $SOL, supply on the market continues to decrease. Meanwhile, this increasing demand will trigger the price of $SOL to increase, after which developers from Solana  must find a way to maintain the community's trust in Solana.

You should think in terms of marketcap and not in price terms.

Bnb marketcap is now 83 billion against 64billion for Solana.

For Solana to reach the bnb price it would need to increase by 4x its size, almost as big as ethereum marketcap, which etf was announced but not being traded yet

Then it looks very unlikely for Solana to pass BNB but with this news Solana holders are a little happy because the future of Solana has started to look good even though the problems in Solana have not yet been resolved if the Solana network problems and power outages can be resolved this could be good news too and could make SOL prices increase.

[yhiaali3]

According to the latest news I read, there were two applications to launch the 'Solana' ETF in the US by VanEck and 21Shares just a few days ago.

VanEck is the first company in the United States to apply to launch a Solana ETF and is one of the first ETF issuers in the United States.

Solana's price is likely to rise if approval is obtained, but I do not think it will rise much. Basically, the Solana network has suffered failure in the past, and I do not know whether it will obtain approval or not, but despite all that, this is good news for Solana.

[Gurujebs]

If this really happens, there is a possibility that the price of Solana can catch up with the price of BNB. Demand from investors continues to rise and, in addition, demand from people who want to own $SOL, supply on the market continues to decrease. Meanwhile, this increasing demand will trigger the price of $SOL to increase, after which developers from Solana  must find a way to maintain the community's trust in Solana.

If not for the disastrous fall of FTX, I have a strong believe that Solana price would have exceed bnb but the fall didn't help it. Assuming Solana wasn't affected by FTX, the market dump would have been minimal down to lows of $100-$80 and the way it has seen growth this little bull run, it ought to be over $500 but despite all that happens, it has found a support above $140.

Solana is going to grow and do better in the future but my only concern about the future is what if the FTX team want to liquiditate the Solana on their hands to refund the affected customers. This is going to look like another MT.Gox and Bitcoin drama of another decade.

[hugeblack]

Solana does not need news to be pumped. The currency has been pumped a lot over the past months, and everything is rising in this way. This means that the correction has become very close.
We noticed what happened in the bitcoin ETF, as the impact of the ETF was less in Ethereum and will be less in any altcoin, and I do not think it will be approved soon.