BlackRock is reportedly gearing up to apply for a Solana (SOL) ETF. This move comes on the heels of their successful promotion of a Bitcoin ETF, according to crypto analysts.
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Analyst Predicts Major Growth for Solana
Crypto analyst Bee suggests that Solana’s price could experience major growth following the official announcement of BlackRock’s SOL ETF application. This prediction is based on Solana’s status as one of the most active tokens in 2024, coupled with its growing community.
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Show more +Top 10 Solana Ecosystem Tokens to Watch
In anticipation of a potential surge in Solana-based projects, Bee has compiled a list of 10 ecosystem tokens that investors should consider:
- Jito (JTO)
- Market Cap: $295.9M
- Notable for its JitoSOL liquid staking pool and MEV product collection
- Raydium (RAY)
- Market Cap: $397.1M
- Automated market maker providing liquidity for numerous tokens
- GenesysGo (SHDW)
- Market Cap: $88.0M
- Offers storage and computational capabilities
- Pyth Network (PYTH)
- Market Cap: $1.15B
- Largest network of primary oracles for real-time market data
- Tensor (TNSR)
- Market Cap: $78.9M
- Largest NFT platform on Solana, handling 60-70% of daily NFT volume
- Frontier (FRONT)
- Market Cap: $80.8M
- DeFi aggregator across multiple blockchains
- IO Net (IO)
- Market Cap: $354.3M
- AI network for scalable cluster access
- Solend (SLND)
- Market Cap: $19.0M
- Autonomous interest rate machine for lending on Solana
- Wormhole (W)
- Market Cap: $617.7M
- Leading interoperability platform for multi-chain applications
- Hivemapper (HONEY)
- Market Cap: $104.8M
- Global mapping network offering drive-to-earn rewards
Bee emphasizes that now may be the last opportunity to acquire Solana ecosystem altcoins at local lows before the potential approval of a BlackRock SOL ETF. The analyst suggests that such approval could drive major capital into the Solana ecosystem, potentially leading to substantial gains for early investors.
Read more: Crypto Trader Earns $2.1 Million in Solana With an Early Buy in Less Than 20 Minutes!
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