CandleFocus ? Solana Jumps 17%, Flips BNB Chain Token, as Trump's Lead Renews ETF Hopes
2024-11-06
Author: Content Editor
The price of Solana's SOL token increased by 17% in 24 hours due to expectations of a Solana ETF being approved. Cboe has filed with the SEC for potential listings from VanEck and 21Shares, leading to optimism about a more crypto-friendly regulatory environment under a potential Trump administration. This surge in price also led to an increase in market cap, making Solana the fourth-largest token by market cap. Experts predict that SOL has the potential to surpass ETH and reach a price of $1000. The surge in SOL's price coincided with Donald Trump's lead over Kamala Harris in the U.S. election, renewing hopes for an ETF approval. The trading volumes of SOL also increased significantly in the past 24 hours. A Trump win is viewed as bullish for the industry due to expectations of relaxed regulations and improved business conditions.
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