Solana Breaks Records with 30 Million Active Addresses
Solana has reached a significant milestone with over 30 million monthly active addresses, marking an all-time high. This achievement aligns with 3iQ’s move to propose a Solana-based exchange-traded fund (ETF) on the Toronto Stock Exchange (TSE). The introduction of this potential ETF in North America could potentially transform crypto investments and enhance Solana’s market presence.
Groundbreaking 3iQ Solana ETF Application
– The proposal for the first Solana ETF by 3iQ in Canada indicates a strong institutional interest in Solana.
– This initiative has the potential to attract more crypto investors and traders to the Solana network.
– The anticipation of the ETF listing has led to a notable increase in monthly active addresses on the Solana blockchain, surpassing 30 million.
– Solana’s current price is $135.58, displaying a green candle formation.
– The price closed at approximately $134.64 yesterday, with a peak of over $151.18 on June 16.
– While Solana began the year strongly at nearly $110 and hit a peak of $202 on March 31, its momentum has slightly decreased.
– However, recent trends indicate a slight recovery.
Solana Volume and Market Trends
– Solana’s 24-hour trading volume is 132.561 million, with a peak weekly volume of 235.742 million on June 18.
– The 30-day price change reflects a decrease of -13.6%, while the 7-day change is -6.3%.
– Nonetheless, the 24-hour and 1-hour changes show positive movements at +2.1% and +0.6% respectively.
– The combination of 3iQ’s ETF application and the rise in active addresses on Solana hints at an exciting phase for the cryptocurrency and the broader market.
– With increasing institutional interest, Solana could witness further adoption and innovation, solidifying its position in the blockchain space.
– Currently, SOL holds the top spot as the largest crypto, boasting a market cap of $62,690,844,487.
– Additionally, Solana ranks as the fourth largest blockchain, with a TVL of $4,150,370,987 and a dominance of 4.40%.
Anticipating Altcoin Season in 2024
– As the crypto market continues to evolve, experts are speculating on the possibility of an altcoin season in 2024.
– Various factors such as market trends, technological advancements, and investor sentiment will play a crucial role in shaping the landscape.
– Understanding the dynamics of altcoin seasons can provide valuable insights for traders and investors, helping them make informed decisions.
– Stay informed about the latest developments in the crypto space to navigate potential opportunities effectively.
Hot Take: Embracing Solana’s Growth Potential
Keep an eye on Solana as it surges to new heights, reaching 30 million active addresses and garnering institutional interest. The proposed Solana ETF by 3iQ could revolutionize crypto investments and enhance the market presence of Solana. Stay tuned for more updates on Solana’s growth and its impact on the broader cryptocurrency ecosystem!
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