Ethereum
Solana (SOL) is up 800% this year, surpassing Bitcoin and Ethereum
Solana (SOL) has shown impressive growth this year, increasing by almost 800% and surpassing Bitcoin and Ethereum. Over the past 12 months, the token has increased by over 770% according to CoinMarketCapdespite its recent decline to the $141 level.
Alternately, Bitcoin and Ethereum have increased by 100% and 82% respectively during the same period. This development has firmly established SOL, alongside BTC and ETH, as the top three cryptocurrencies in the market. This fact has led two companies to file for a Solana Spot ETF just this week.Source: Bitcoin.com
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SOL Beats Bitcoin and Ethereum in Year-to-Date Gains
So far, throughout 2024, the United States has approved two crypto-based ETFs. This figure is expected to increase, and Solana has become one of the favorites to get the investment product, especially since its 800% annual gains have outpaced both Bitcoin and Bitcoin. Ethereum.
A recent report by GSR Markets SOL said SOL “has consolidated itself as part of the big three in cryptocurrency.” Additionally, they said it was “only a matter of time before Solana” gets its own ETF. That would put all three assets in rarefied air, but it increasingly looks like it will become a reality.
Read also: 21Shares officially files for Spot Solana ETF
21Shares and Van Eck Investors filed for Solana’s offering this week, a testament to both Sol’s potential as an investment offering and the regulatory transformation underway in the country. And it could be a sign of even greater global change.
Bloomberg recently said that “Bitcoin’s performance is starting to be eclipsed by Ether and Solana” as the ETF craze grows. Furthermore, it is expected that the latter could get a much-needed boost from discussions on investment products. If approved, the industry and the token itself are expected to receive massive help.