Solana Soars 16% Over 7 Days, Outpacing Bitcoin And Ethereum Over ETF Application Momentum — More Applications To Follow?
Portfolio Pulse from Aniket Verma
Solana (SOL) has surged 16% over the past week, outperforming Bitcoin (BTC) and Ethereum (ETH), driven by new applications for spot ETFs tracking Solana's price. VanEck and 21Shares have filed for these ETFs, boosting Solana's trading volume and price.
July 01, 2024 | 3:23 am
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NEUTRAL IMPACT
Bitcoin (BTC) saw gains but was outpaced by Solana (SOL) due to new spot ETF applications for Solana.
While Bitcoin saw gains, the focus on Solana's ETF applications diverted some attention from BTC, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Ethereum (ETH) is close to getting listed on U.S. exchanges but was outperformed by Solana (SOL) due to new spot ETF applications.
Ethereum is nearing a significant milestone with its U.S. exchange listing, but the immediate focus on Solana's ETF applications has led to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Solana (SOL) surged 16% over the past week, driven by new spot ETF applications from VanEck and 21Shares.
The new spot ETF applications for Solana have significantly boosted its trading volume and price, leading to a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100