The cryptocurrency market has been embracing change. The sudden explosion of exchange-traded funds (ETFs) has caught the attention of the entire globe. More recently, Canada was seen jumping on board after it became the first nation to launch a spot Solana ETF. This news, however, barely made a difference to the price of the altcoin. But the community is looking forward to the asset rising in the coming days.
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Is Solana Stagnant Or Has It Started Its Recovery?
SOL has been a top-performing asset throughout the past year. The altcoin jumped from a low of $96.59 all the way to a new high of $294.33. This surge was lauded by the entire market. But SOL failed to retain itself over $200 and now, the $150 zone. To the community’s surprise, the asset even plunged below $100 to a low of $96.59 just last week. While this created chaos in the market, investors are hoping to witness some respite.
At the time of writing, the sixth-largest cryptocurrency was trading at $132.53. Throughout the past 24 hours, Solana barely recorded major upticks or falls. Sadly, the asset is 55% below its peak.
Canada’s Solana ETF is expected to go live on April 16, 2025. The Ontario Securities Commission (OSC), Canada’s financial watchdog, has given permission for some of the nation’s leading investment firms to list these exchange-traded funds (ETFs). These businesses include 3iQ, CI Global Asset Management, Evolve ETFs, and Purpose Investments.
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April 20 Price Prediction
According to data from CoinCodex, Solana is set to endure a rough patch before witnessing a slight rise on April 20. The firm revealed that on April 19, the altcoin will trade at a high of $135.22 following a 1.51% rise. The next day, SOL will be priced at $134. This marks a dainty increase from its current price level.
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