Solana (SOL) has demonstrated impressive resilience, with its price surpassing the $70 mark, reflecting a strong recovery in the cryptocurrency market. This surge in Solana’s value is attributed to positive speculations, including its potential inclusion in the ETF race by 2024. Investment manager VanEck has highlighted Solana’s potential growth, predicting it could become a top blockchain by market cap, Total Value Locked (TVL), and active users.
The recent performance of Solana is particularly notable in the context of broader market trends. The token has seen a 12% increase in its weekly timeframe and a 30% jump monthly. This uptrend is in line with the positive sentiment surrounding the cryptocurrency market, especially following the SEC’s indication of approving a spot Bitcoin exchange-traded fund.
As Solana continues to gain traction, the possibility of it being part of the ETF race could attract more institutional investors, potentially enhancing its market position and visibility. The growing interest in Solana, both from retail and institutional investors, underscores its potential as a key player in the evolving crypto landscape.
