While the crypto market calms down after a busy week, Solana continues its rise. SOL is up nearly 13% in the last 24 hours thanks to ETF expectations and strong on-chain metrics. This increase allowed Solana to approach its all-time high.
Potential Solana ETF
Financial manager VanEck has announced that a Solana ETF could launch within the next 12 months. Matthew Sigel, VanEck’s Head of Digital Asset Research, stated that this possibility is high. Institutions’ Bitcoin 
$91,170 and Ethereum 
$3,137His interest in suggests that a similar situation may occur for Solana.
Solana’s Superiority in DEX Volume
Decentralized exchange (DEX) volume on Solana has reached a new high, according to analytics firm DefiLlama. In November, DEX transactions in the Solana ecosystem accounted for approximately one-third of all DEX transactions. This rate is almost twice as high compared to Ethereum’s approximately 17.5%.
Competition with Ethereum
High gas fees and congestion on Ethereum gave Solana’s young ecosystem an advantage. Solana’s fight to become the DeFi leader has gained momentum against Ethereum. However, it remains unclear whether Solana will surpass Ethereum.
“We expect the SEC to approve more crypto products than it has approved in the past four years. “There is a very high probability that the Solana ETF will be trading by the end of next year.”
Matthew Sigel predicts that approval of new crypto products will increase as the SEC’s leadership changes. Gary Gensler’s departure as SEC chairman could help pave the way for crypto innovations.
It is stated that if the Solana ETF is realized, there may be positive developments for Solana owners. This could increase Solana’s market value and acceptance.
Finally, Solana’s performance and potential ETFs continue to attract investor interest. Market dynamics and regulatory developments are among the important factors that will determine Solana’s future success.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
