July 1, 2024, 1:27 pm CEST
| 4 min read
Currently ranked fifth in the cryptocurrency rankings by market capitalization, Solana (SOL) has seen a significant jump in price in the last 24 hours.
This rally was fueled by VanEcka well-known New York asset management firm, which filed an S-1 registration statement for its “VanEck Solana Trust“, thus marking the first attempt to launch a ETF its Solana in the United States.
Furthermore, the Canadian company 3iQ Corp recently submitted a preliminary prospectus to introduce the Solana Fund (QSOL) in Canada.
The presentation of these documents generated considerable interest and speculation about Solana’s future price trajectory.
Il Senior ETF Analyst di Bloomberg, James Seyffartpredicts that a Solana ETF could hit the market as early as 2025.
Prior to these announcements, Solana had already been on a recovery path, rebounding from a dip to $123 on June 24 and stabilizing between $135 and $140.
This stability has shifted short-term indicators from bearish to bullish, making Solana attractive to day traders. Recent news has pushed Solana price above the $140 resistance, signaling a promising outlook.
ChatGPT-4o predicts the price of Solana
OpenAI’s AI, ChatGPT-4oprovided us with a balanced forecast on the price trajectory of Solana by considering the potential impact of the Solana ETF under three scenarios: cautious, balanced and optimistic.
These scenarios take into account the potential impact of ETF Solana based on expected market conditions, regulatory environment and adoption rates.
Cautious scenario
In this scenario, significant regulatory challenges could limit the approval and adoption of Solana ETFs, with continued regulatory scrutiny and potential delays. Securities and Exchange Commission (SEC) of the United States that limit the flow of institutional funds.
Investors may remain cautious due to regulatory uncertainties, resulting in moderate inflows. As a result, Solana ETFs may attract only modest investment, reflecting cautious market sentiment.
This conservative approach could lead to a potential increase of 1.3 times the current price of SOLreaching approx 195 dollars.
Balanced scenario
In this scenario, a stable and moderately favorable regulatory environment could Facilitate approval of Solana ETFs.
Growing interest from institutional investors, driven by Solana’s technological advantages and market potential, could lead to significant capital inflows.
As a result, Solana ETFs could capture a substantial portion of the inflows experienced by Bitcoin ETFs, potentially increasing the price by three times its current value to around 525 dollars.
Optimistic scenario
In the optimistic scenario, significant positive regulatory changes, such as new leadership at the SECcould accelerate approval of Solana ETFs.
Major institutional players could invest heavily in Solana ETFs, attracted by the performance and potential of blockchain.
This scenario envisions substantial inflows, with the Solana ETFs capturing a significant share of the inflows experienced by the Bitcoin ETFs, potentially leading to an eightfold price increase to approximately $1,200.
The recent surge in Solana prices reflects growing anticipation and confidence in the potential launch of ETF Solana. With significant deposits of VanEck e 3iQ Corpthe market response has been remarkably positive.
As the regulatory landscape evolves, the approval and adoption of Solana ETFs could significantly influence Solana’s price trajectory.
Investors should carefully monitor regulatory developments and institutional interest to evaluate the future potential of Solana in the cryptocurrency market.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. Profit tax may apply.
Wiener AI: the memecoin that powers a new AI crypto trading bot
Meanwhile, the new project Wiener AI (WAI) it literally exploded, reaching mind-blowing figures in its pre-sales.
The platform WienerAI offers advanced AI trading tools, but with a simplified interface so as to be easily operable even for less experienced traders.
The presale, which has already raised more than 6.9 million dollarsis in an advanced stage with the token WAI available at the unit price of 0.000724 dollars.
The domanda del token WAIthe native cryptocurrency of the WienerAI project, is constantly growing among investors, also thanks to the significant passive income opportunities it offers.
In fact, 20% of the total WAI token supply has been allocated to staking rewards and investors can earn the 164% APY.
There is still time to position yourself as early adopters and achieve significant gains when the WAI token is officially listed on exchanges.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. Profit tax may apply.
