The SOL/USD pair is showing a bullish trend, nearing $170 and reaching a high of $170.26, indicating a positive Solana price prediction. The interest shown by Standard Chartered in obtaining SEC approval for additional crypto ETFs, particularly for Solana, is generating speculation and optimism within the industry.
Market dynamics and technical indicators are supporting the potential for a surge in Solana’s price, with predictions suggesting that the cryptocurrency could experience significant growth, possibly exceeding $200.
Additionally, Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, forecasts that cryptocurrency ETFs for Solana and XRP could be approved by 2025, following the recent approval of Ethereum spot ETFs by the SEC. Kendrick believes that Ethereum’s approval sets a precedent for similar cryptocurrencies, potentially opening the door for XRP and Solana ETFs.
Furthermore, Kendrick emphasizes the importance of regulatory clarity and political support to create a conducive environment for digital assets. The predicted approval of ETFs for Solana and XRP by 2025 could have a positive impact on Solana’s price, as institutional investments increase, improving overall market sentiment.
Inflows into US spot Bitcoin ETFs have been strong following the SEC’s approval of Ethereum ETFs, with ten consecutive days of positive inflows totaling $251.94 million as of May 24. This trend underscores growing investor confidence in the cryptocurrency market and may have a favorable influence on Solana’s price as market sentiment continues to strengthen.
Looking at Solana’s current position, the cryptocurrency is trading at $165 with a slight increase. Key support and resistance levels indicate potential movements in the price. The Sealana presale, which presents an opportunity for investors to participate in the Solana ecosystem, is receiving significant attention.
Be part of the Sealana journey and seize the opportunity to engage with the Solana ecosystem through the presale, offering $SEAL tokens at $0.022 per token. With a current raise of approximately $3 million, the Sealana presale is gaining traction. Don’t miss out on this exciting opportunity.
