 ▲ Solana (SOL) |
Solana (SOL), the 5th largest cryptocurrency by market capitalization, fell more than 6% over the past 24 hours, falling below $150.
Solana's SOL coin, a strong competitor to Ethereum (ETH), is trading at $149.25 as of 8:46 am on the 12th (Korean time), down 6.03% from 24 hours ago based on CoinMarketCap.
The price of SOL fell 13% in value in a week amid the overall cryptocurrency bear market.
As Solana fell to a low of $145.87 that day, cryptocurrency analyst Credible Crypto said that Solana's price is currently at a very critical point (make or break).
Meanwhile, according to CryptoSlate, Rob Marrocco, head of listing at the Chicago Board Options Exchange (CBOE), recently spoke on the ETF Store podcast, a U.S. ETF specialty company, saying, “The possibility of launching a Solana (SOL) spot ETF is unrealistic, and such a product will be launched.” “For this to happen, a futures ETF would have to come out first or regulatory clarity would have to be secured,” he said.
Lara Crigger, editor-in-chief of cryptocurrency ETF research firm VettaFi, also said, “The U.S. Securities and Exchange Commission (SEC) has little data to say the market is large and transparent enough to support Solana’s spot ETF.” did.
Previously, JP Morgan and Bloomberg believed that approval of a spot ETF for cryptocurrencies other than Bitcoin and Ethereum was unlikely, and Bernstein analyzed that with the approval of an ETH spot ETF, other cryptocurrencies, including Solana, could also be considered products. There was a bar.
