Solana Jumps 13%, Overtakes BNB As Fourth Largest Crypto As Trump’s Triumph Boosts SOL ETF Approval Hopes

Solana Jumps 13%, Overtakes BNB As Fourth Largest Crypto As Trump’s Triumph Boosts SOL ETF Approval Hopes
фото показано с : zycrypto.com

2024-11-7 22:01

Solana’s native token SOL is on a roll today after seeing its price increase by over 10% in the past 24 hours. The latest strong-up move pushed SOL above Binance-affiliated BNB (BNB), making it the fourth-largest cryptocurrency by market capitalization.

Solana’s rally came amid booming expectations of a possible spot SOL exchange-traded fund (ETF) after Donald Trump, the self-styled stalwart of the U.S. cryptocurrency industry, secured a second term as POTUS.

SOL ETF Likely In Q1 2025?

While on the campaign trail, former president Donald Trump made a slew of promises to the crypto community, including vowing to fire Securities and Exchange Commission Chair Gary Gensler “on day one” of office. The SEC, under Gensler’s leadership, has filed multiple lawsuits against many high-profile companies, claiming that most cryptocurrencies are unregistered securities. The regulator has specifically alleged that it thinks SOL is an unregistered security. 

Because of such promises, many in the crypto industry have high hopes for the incoming crypto-friendly Trump presidency.

“Markets are still heavily mispricing a republican sweep, and the upside for the industry is likely much higher than previously anticipated,” Syncracy Capital co-founder Daniel Cheung observed in a Nov. 6 post on X.

SOL appears poised to be the next token in the market with an ETF. In early July, the Cboe submitted 19b-4 filings with the Securities and Exchanges Commission (SEC) asking to list VanEck’s and 21Shares’ potential spot Solana ETFs, initially filed in late June. Asset manager Canary Capital recently became the third firm to file to launch a spot Solana product in the United States.

Many market spectators anticipate Solana ETFs being soon greenlighted in the United States following the recent approvals of Bitcoin and Ethereum funds.

“SOL ETF likely happens in Q1 2025 putting SOL in a position to flip ETH and even trade at $1000,” Cheung asserted.

SOL spiked from a low of $156 on Nov. 5, climbing as much as 20% to a three-month high of $188.55 on Nov. 6, according to CoinGecko data. Solana reached a market cap of more than $87 billion, effectively surpassing BNB Chain’s BNB and earning a spot as the fourth most valuable digital asset behind only Bitcoin (BTC), Ether (ETH), and Tether’s stablecoin USDT. 

Crypto analyst Amdtrades believes that the price of Solana has to overcome the resistance at $190 before posting new highs above the elusive $200 mark.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Доступно / Всего 0 BNB

bnb sol above pushed binance-affiliated strong-up move

Источник: zycrypto.com

bnb sol → Результатов: 126


Фото:

Option2Trade (O2T) Crypto ICO Could Become Biggest Token in 2024 As Solana, BNB Still Hold Top Altcoin Position

The ICO of Option2Trade (O2T) is more than just a presale event; it is a testament to the evolving landscape of the cryptocurrency market, where innovation and utility define the leaders. As Solana (SOL) and Binance Coin (BNB) continue to assert their dominance, O2T offers a fresh perspective on how blockchain technology can be harnessed […]

2024-5-1 20:56


Фото:

11 Top Crypto Investment Options 2024: BlockDAG’s 30,000x ROI Potential Ahead of BTC, ETH, BNB, SOL, XRP, DOGE and So On

BlockDAG has emerged as a frontrunner among the top cryptocurrencies of 2024, achieving a remarkable $21.4 million in its presale. It stands out not just for its impressive fundraising but also for its innovative merger of blockchain technology with Directed Acyclic Graphs (DAG), showcasing significant potential alongside major players such […]

2024-4-30 03:08


Top 8 Cryptos to Investment in: Exploring BlockDAG alongside Giants like BTC, ETH, BNB, SOL, and Others with High ROI Potential

As 2024 continues to unfold, BlockDAG is setting new standards in the cryptocurrency market, clearly distinguishing itself from heavyweights like BTC, ETH, and BNB. This innovative platform is leading in technology and potential returns, boasting an anticipated 30,000x ROI that captivates investors’ attention.

2024-4-28 09:15


An Anonymous Solana (SOL) Fund’s Huge Stake in Kelexo (KLXO) Presale Highlights Confidence as Binance Coin (BNB) Clings to $600 Amid Bitcoin (BTC) Halving Talks

In the ever-evolving market of cryptocurrency, several prominent assets and projects are capturing the attention of investors and enthusiasts alike. Among these, Solana (SOL), Binance Coin (BNB) and Kelexo (KLXO) presale stand out for their recent developments and market activities.

2024-4-20 17:00


Проект Solana обошел по капитализации BNB и занял 4ю строчку рейтинга криптовалют

В результате роста экосистемы Solana (SOL) обошла Binance Coin (BNB) и стала 4-й по величине криптовалютой по рыночной капитализации. Эти два актива поменялись местами, и рыночная капитализация Solana выросла более чем на 20% за последние 24 часа, согласно CoinMarketCap.

2024-3-19 18:54


Фото:

Solana Chasing BNB Chain, Race To 5% Market Dominance Heats Up

The dominance war is on. CoinMarketCap data shows that Solana and BNB Chain, two popular smart contracts platforms after Ethereum, are emerging as strong contenders. In a post on X, one crypto analyst notes that SOL and BNB, the native currencies of Solana and BNB Chain, respectively, have been growing, subsequently expanding the market caps of their respective platforms.

2024-3-15 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Solana memecoins hit $12B after overnight 30% surge! What’s going on?

Solana’s memecoin market surged 30%, reaching a $12 billion cap. The growth signaled rising interest in speculative assets and Solana’s expanding ecosystem. The Solana [SOL] memecoin maThe post Solana memecoins hit $12B after overnight 30% surge! What’s going on? appeared first on AMBCrypto.

Solana on the rise: 2 factors fueling SOL's price

The number of daily active users on Solana has stayed above 5 million in November. SOL has increased by over 11% in the last 24 hours. Solana [SOL] has seen an explosion in its user base in The post Solana on the rise: 2 factors fueling SOL's price appeared first on AMBCrypto.

Solana takes an unexpected turn – How will this affect SOL’s $200 goal?

SOL sees massive spike in on-chain volume. Global long positions increased even as SOL's price dipped. Solana [SOL] recently experienced a significant increase in on-chain transfer volume, rThe post Solana takes an unexpected turn – How will this affect SOL’s $200 goal? appeared first on AMBCrypto.

Examining Ethereum's role in Solana's booming liquidity

$600M bridged to Solana in October, with over 90% being from Ethereum Influx more evidence of Solana’s role in DeFi, NFTs, and cross-chain innovation In an era marked by rapid advancementsThe post Examining Ethereum's role in Solana's booming liquidity appeared first on AMBCrypto.

Solana's road to $195 depends on SOL's price holding above THIS level!

Traders seemed to be over-leveraged at $156.7 on the lower side and $166.5 on the upper side SOL’s on-chain metrics with technical analysis suggested that bulls have been dominating the assetThe post Solana's road to $195 depends on SOL's price holding above THIS level! appeared first on AMBCrypto.