Solanaus Monthly Active Addresses Reach AllTime High Amid ETF Excitement
Solana has reached a significant milestone, surpassing 30 million monthly active addresses, an all-time high. This coincides with 3iQ’s groundbreaking application to a Solana-based exchange-traded fund (ETF) on the Toronto Stock Exchange (TSE). If approved, this would be the first ETF of its kind in North and could potentially revolutionize crypto investments while strengthening Solana’s market presence.
3Q’s initiative to launch Canada’s first Solana ETF underscores strong institutional interest in Solana and is expected to attract more crypto investors and traders to the, boosting its usage activity. The anticipation of the ETF listing has already driven a substantial increase in monthly active addresses on the Solana, reaching an unprecedented 30 million.
As of June 22, 2024, Solana’s price stands at $135.58 with a green candle formation. The previous day saw Solana closing at around $134.64, while it peaked at over $151. on June 16. Despite starting the year strong at nearly $110 and hitting a peak of $202 on March 31, there was some weakening in momentum for Solana however recent trends indicate signs of recovery.
Solana’s 24-hour trading volume stands at 132.561 million with the highest weekly volume recorded as 235.742 million on June18th . The price change over thirty days is -13.6%, over seven days it’s -6 .3%, but positive movements can be observed in both twenty-four hours (+2 .1%) and one hour (+0 .6The combination of increased attention from institutions through initiatives like
3iQ’s ETF application and rising active addresses for
Solona an exciting phase ahead for both
Solona itself as well as the broader cryptocurrency market.
This growing institutional interest may pave for further adoption potential innovations bolstering its position within the blockchain ecosystem.
At present SOL first place among cryptocurrencies with a market cap totaling
$62 ,690 ,844 ,487 .
It also places fourth among blockchains with total value locked (TVL) standing at $
4 ,150 ,370,
987 giving it dominance of
4 .40 % .
For additional insights into altcoin season predictions in
2024,
refer to our article:
“Will There Be an Altcoin Season in
2024? Expert Analysis.”
Tags: #SOL #Solano