Solana Surges with 30 Million Users Launches FirstEver ETF
Solana, the popular cryptocurrency, is currently experiencing a surge in activity with over 30 million monthly active addresses, a new all-time high. This increase in activity coincides with digital asset manager 3iQ’s plan to launch the first Solana-based exchange-traded fund (ETF) in Canada. If approved, this would be a significant development for crypto investments and could boost Solana’s market presence in North America.
3iQ’s initiative to list a Solana ETF demonstrates strong institutional interest in the cryptocurrency. This move has the potential to attract more investors and traders to the Solana network, leading to increased usage and activity. The anticipation of the ETF listing has already contributed to the rise in monthly active addresses on the Solana blockchain, reaching an unprecedented 30 million.
In terms of market performance, Solana’s price currently stands at $135.58, showing a positive trend. While the cryptocurrency experienced a period of weakness, recent trends indicate a recovery. Solana’s 24-hour trading volume is 132.561 million, with the highest weekly volume recorded on June 18 at 235.742 million. The 30-day price change stands at -13.6%, with a 7-day change of -6.3%. However, the 24-hour and 1-hour changes are positive at +2.1% and +0.6% respectively.
The combination of 3iQ’s ETF application and Solana’s rising active addresses suggests an exciting phase for the cryptocurrency and the broader crypto market. As institutional interest continues to grow, Solana could see further adoption and innovation, solidifying its position in the blockchain ecosystem.
Currently, SOL is the largest cryptocurrency by market cap, valued at $62,690,844,487. It is also the fourth largest blockchain, with a Total Value Locked (TVL) of $4,150,370,987 and a dominance of 4.40%.
In conclusion, the potential launch of a Solana ETF in Canada and the increasing number of active addresses on the Solana blockchain indicate a bright future for the cryptocurrency. As more institutions show interest, Solana could experience further growth and establish itself as a prominent player in the crypto space.