Popular altcoin While investors’ bullish expectations continue in Solana, a positive picture prevails on the ETF front. Bitwise Solana Staking ETF (BSOL), which was launched and opened to transactions on October 28, made a remarkable start in terms of transaction volume and asset size. The company announced that the ETF reached a trading volume of $55.4 million and an asset value under management of $217.2 million on its first day of trading. explained. Bloomberg ETF analyst Eric Balchunas also confirmed its first-day performance with a volume of approximately $56 million. Bitwise says the ETF is 100 percent staked LEFT When targeting its positions, it aims to gain maximum benefit from staking returns of around 7 percent on average.
GSOL Will Open for Trading on NYSE Arca Today
In the same period as Bitwise’s ETF, Grayscale’s Solana-based ETF GSOL will also be listed on the NYSE Arca exchange and opened for trading as of October 29. GSOL, to investors SOL coinIt will offer indirect access to ‘s price movements and potential staking rewards. by Grayscale to the announcement Accordingly, the ETF will create a performance range based on both the spot Solana price and staking returns within the Blockchain.
So two different ETF‘s entry into the stock market within the same week will bring the potential to significantly increase institutional interest in the altcoin.
Solana Price Stuck Between $194-203
Technical indicators, on the other hand, reveal a more cautious picture of Solana’s price. CryptoAppsy According to data, although Solana was traded at $195.58 with a 0.78 percent increase in the last 24 hours, it remained 2.33 points behind the general market performance. In the transactions in the last 24 hours, it was seen that the price decreased from 201 dollars to 195 dollars and recovered again, and the selling pressure concentrated at the levels of 204-203 dollars. The fact that the transaction volume remained 44 percent below the seven-day average shows that investor participation in the altcoin remained weak despite the ETF factor.
Analysts Solana priceHe points out that the price is consolidated in a narrow range between 194 and 203 dollars. While there was a transaction volume explosion of 2.56 million units after falling below the 200 dollar threshold, purchases at the 195 dollar level helped the price find balance.
In technical analysis, the $194-195 range stands out as the first support, and the $196.5-197 and $200 levels stand out as short-term resistance thresholds. Although there is a possibility of a test up to $203 on this region, the low trading volume indicates that the upward movement may remain limited. If the support zone is broken, analysts do not rule out the risk of a correction to the $188–180 region.
