The collective cryptocurrency market is celebratory, with XRP winning its much-awaited case against the US SEC. Several altcoins have gained significant price hikes, ushering in optimism. Solana is no exception to this change. Solana ETFs are already trending in Brazil, with the region’s financial authorities greenlighting SOL ETFs in the nation.
The abovementioned development is now inching to embed itself in the US crypto scenario. If SOL ETFs are successfully integrated into the US economy, they can significantly raise SOL’s prices.
Also Read: Ripple: AI Predicts XRP’s Price After SEC Victory
Will The US Embrace SOL ETFs?
Brazil has recently championed the Solana ETF cause, taking the global Web3 realm by storm. Brazilian regulators have agreed to launch Solana ETFs, which may help seasoned investors more easily explore the company in a more trusted manner.
Amidst the ETF hype, Franklin Templeton, the leading financial giant, has issued a positive statement, adding that besides BTC and ETH, Solana has also been pioneering new adoption goals.
“Just in: Amidst ETH ETF trading going live, Franklin Templeton Digital Assets (@FTI_DA) believes that besides Bitcoin and Ethereum, Solana has shown major adoption and continues to mature, demonstrating the potential of high-throughput, monolithic architectures.”
The above statement has spurred a new phenomenon where investors are now looking forward to exploring Solana ETFs. If these ETFs become a reality, they can significantly help SOL gain new price momentum, helping the token ascend to new price highs.
Price Prediction: How High Can It Rise This Week?
Solana is currently trading at a price level of $157. According to CoinCodex, the token may surge and hit $162 by this weekend. By August 15, the token may keep its stance unchanged and continue to trade at a price level of $162.
“The Solana price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $162.55 on August 16, 2024, gaining 0.59% in the process.”
SOL may spike by 14% to hit the $184 price level by the end of August 2024.
Also Read: SHIB Weekend Price Prediction: Will XRP Surge Boost Shiba Inu?
“According to our current Solana price prediction, the price of Solana is predicted to rise by 14.44% and reach $184.92 by September 8, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 48 (neutral). Solana recorded 17/30 (57%) green days with 10.48% price volatility over the last 30 days.”