Solana (SOL) News Sways Market Opinion Towards Year-End Surge

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

Solana (SOL) 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.

Fresh off its designation as a security by the US SEC, Solana (SOL) is now seeing its ETF application published in the federal register. This comes just weeks after the XRP ETF application was filed by BlockFi.

Canary Capital filed an application with the US SEC to launch a spot Solana (SOL) ETF, adding to the growing list of competitors like VanEck and 21Shares that are aiming to offer direct SOL opportunities to the public. If approved, this spot Solana ETF would allow investors to gain exposure to SOL without the need to directly manage cryptocurrency holdings.

While Solana’s status as a security remains a point of contention with the SEC, the increasing institutional interest suggests that ETFs for major cryptocurrencies are becoming a hot trend, following the approval of Bitcoin and Ethereum funds earlier this year.

In other Solana news, the Solana-based exchange Raydium has beaten the Ethereum network in daily revenue. On October 23, Solana generated $8.7 million from network activity. These developments have contributed to an 11.66% increase in SOL price, adding to the 345% increase in the past year.

Solana (SOL) has outperformed 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.

As 2023 progresses and the US elections draw near, the crypto space could see a major shift in terms of diversified crypto investments. While Bitcoin (BTC) and Ethereum (ETH) have remained the top choices for investors, the increasing popularity of altcoins like Solana (SOL) and Avalanche (AVAX) is presenting new opportunities for capital allocation.

With the addition of IntelMarkets (INTL) to the scene, investors now have access to a unique trading platform that combines the strengths of Ethereum (ETH) and Solana (SOL) blockchains. This platform offers traders a wide range of possibilities, including the ability to perpetuals trade future token prices or movements without being limited by expiration dates.

Moreover, IntelMarkets is also working on integrating quantum-proof technology into its platform to safeguard against future threats. As part of its Route X21 initiative, IntelMarkets is focusing on future blockchain security challenges.

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 used to further develop 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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