Solana is undoubtedly one of the most promising and strong cryptocurrencies currently ruling the space. Crypto has indisputably become one of the most popular crypto coins to have existed in the realm. The cryptocurrency has lately been the center of attention, primarily due to the hoard of Solana ETF filings that have catapulted Solana to touch new highs. But can they truly help push SOL prices?
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Solana (SOL) ETFs: What’s Happening?
Leading financial giants Ark21 Shares and VanEck have filed for potential Solana ETFs. Amid the latest ETF boom that was first ushered in through Bitcoin, Solana has now joined the aforementioned queue, bolstering its price prospects. With ETFs in the mix, the price of SOL is expected to surge and peak at new levels, possibly claiming an all-time high.
Crypto analyst and former Goldman Sachs executive Raoul Paul, in a recent video, praised SOL for its robust ecosystem. He shared how Solana is poised to usher in a new era, possibly helping the crypto market expand to new levels. Paul later reiterated how Solana will be leading the “banana zone” market, a term that denotes consistent expansion of the crypto market.
“When is the banana zone? I think it’s coming, and I think Solana is going to lead it. As I’ve urged you, patience is required. These things don’t come instantaneously, but when they do, they can be life-changing.”
The expert later opened up about how Solana inspired him to invest his attention in the token. Paul shared that SOL’s firedancer development persuaded him to explore SOL in full capacity.
“Firedancer got me really across the line and made me all in on Solana, where now 90% of my crypto allocation, which is 100% of my liquid net worth, is in Solana. [That may be foolish to some of you, but I think that market concentration is the right way of doing things when you’ve got everything correlated.”
Solana (SOL) Mid-July Prospects: A New ATH in Sight?
With new ETF filings in the midst, market confidence in Solana is certainly on the rise. According to CoinCodex, Solana will still be moving ahead with a promising yet slow price pace. The token will be projecting a rather sluggish price approach, where it would initially shed some of its value before breaking the $150 price mark.
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From July 3 to July 15, the token is hovering between the price range of $140-$148. However, post-July 15, CC notes SOL possibly heading to breach past the $150 mark. By August 1, the token may trade at $170.
“According to our current Solana price prediction, the price of Solana is predicted to rise by 16.37% and reach $ 178.83 by August 1, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 51 (neutral). Solana recorded 14/30 (47%) green days with 8.67% price volatility over the last 30 days.”