Solana news is all over the timeline as the first-ever spot Solana ETF filed in the federal register weeks after the XRP ETF. Reminiscent of its 2023 surge, SOL’s daily revenue has climbed to $8.6 million, underscoring a rise in network activity and investor interest.
Even institutional investors are taking note, with whales now adding the viral IntelMarkets alongside SOL to their portfolios. As the US elections draw near, the crypto space could see a major change in diversified crypto investments.
Solana News Sways Market Opinion Towards Year-End
Canary Capital’s recent filing with the US SEC to launch a spot Solana ETF marks a significant milestone, joining competitors like VanEck and 21Shares in their pursuit to offer direct SOL opportunities to the public. This spot Solana ETF, if approved, would enable investors to gain SOL exposure without needing to manage cryptocurrency holdings directly.
Although Solana’s designation as a security remains debated by the SEC, the growing institutional interest suggests that ETFs for major cryptocurrencies are a rising trend, following Bitcoin and Ethereum fund approvals earlier this year.
In other significant Solana news, Solana-based exchange Raydium beat the Etheruem network in daily revenue. On October 23, Solana generated $8.7 million from network activity. These developments have led to a 11.66% increase in SOL price, adding to the 345% increase in the past year.
Solana (SOL) has gone on to outperform 83% of the top 100 cryptocurrencies after seeing 16 green days in the past month. Ahead of December, Coincodex predicts a 13% increase for SOL, potentially reaching $198.4 as technical indicators signal a “buy” interest from retail investors.
IntelMarkets Catalyzes Security And Network Rewards
The crypto trading ecosystem keeps evolving with IntelMarkets as a lauded frontrunner. Built on the architecture of ETH and SOL blockchains, IntelMarkets capitalizes on Ethereum’s domination and Solana’s speed, making it the most flexible platform out there. Traders can even switch between blockchains to capitalize on the strength of each in their trades.
Currently, traders and INTL holders enjoy up to 1,000x leverage on a perpetuals exchange. Unlike traditional futures, IntelMarkets lets traders speculate on future token prices or movements without being limited by expiration dates. This means unparalleled flexibility and a higher chance to make profits irrespective of capital volume.
However, IntelMarkets (INTL) is doing something no other platform is doing yet. In recognition of future blockchain security challenges, IntelMarkets is spearheading security innovations through its Route X21 initiative, which focuses on integrating quantum-proof technology into its platform to safeguard against future threats.
Don’t Miss Out On IntelMarkets Presale!
For $0.037 per token, you can gain access to risk management tools and high levels of liquidity with tight bid-ask spreads. As traders flock to take advantage of these features, Intel Markets is set to become this year’s standout sensation, with market analysts predicting a potential 5,000% rally.
Funds raised during the IntelMarkets presale will be directed toward further developing state-of-the-art technologies, including the Quantum-Proof Ledger (QPL). Early participation not only grants access to token discounts but also positions investors to reap significant gains.
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