The price of Solana (SOL) has exceeded $70, indicating a strong recovery in the cryptocurrency market. This increase is attributed to positive speculations, such as potential inclusion in the ETF race by 2024. Investment manager VanEck has also emphasized Solana’s potential growth, predicting it could become a top blockchain by market cap, Total Value Locked (TVL), and active users.
Solana’s recent performance is significant, with a 12% increase in its weekly timeframe and a 30% jump monthly. This uptrend aligns with the positive sentiment in the cryptocurrency market, especially following the SEC’s indication of approving a spot Bitcoin exchange-traded fund.
The possibility of Solana being part of the ETF race could attract more institutional investors, potentially enhancing its market position and visibility. The growing interest in Solana underscores its potential as a key player in the evolving crypto landscape.