The current Solana memecoin frenzy and increasing investor sentiment for Solana suggest a positive impact on Solana-based memecoins.
On the contrary, not everyone was happy with this news. According to some, the approval of an Ethereum ETF might be a net negative for the market as highlighted by ‘The Bitcoin Therapist’ in his tweet,However, despite the excitement, this news did not immediately impact SOL’s price, which declined by 6.17% in the last 24 hours.
This brings up another question: If Solana ETFs get approved, what impact will this have on Solana-based memecoins?, which saw a 5% decline in the last 24 hours. This meant the ETH ETF approval did not translate into a rally for DOGE.data at press time showed a 4.71% increase in Open Interest in the past 24 hours, suggesting growing market activity and investor interest.experienced a 6% decline in the past 24 hours.
However, the overall sentiment remained largely positive, which indicates that investor interest and engagement are still present, even if prices are currently declining.In conclusion, it’s worth noting that the Ethereum ETF approval did not yield a positive impact on the Ethereum memecoin market. Therefore, as we navigate through evolving market dynamics, it will be interesting to observe whether the outcome of a SOL ETF for Solana-based memecoins leans towards positivity or negativity.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Could Solana be next in line for a spot ETF after Ethereum?Amidst the possibility of an ETH ETF approval soon, CNBC ‘Fast Money’ trader Brian Kelly suggests SOL ETF as to be next in line.
Read more »
The latest ETF launches and terminations: Investors flock to Canadian bank ETFEquities dominate inflows in April while 23 new fixed income ETFs launch
Read more »
Ether ETF will be a 'monster success,' but not like bitcoinWhile the Securities and Exchange Commission (SEC) has yet to allow money managers to issue spot ether exchange-traded funds (ETFs), the regulator has given ...
Read more »
Ether ETF approval: What happens nextThe Securities and Exchange Commission (SEC) has given the green light to the New York Stock Exchange (^NYA) and Nasdaq (^IXIC) to begin listing exchange...
Read more »
Stock market, ether ETF, Tesla Model Y production: 3 ThingsStocks (^DJI, ^IXIC, ^GSPC) are stirring up something ahead of Friday's open. The Dow Jones Industrial Average hopes to recover from this week, capitalized...
Read more »
Ethereum ETF sends ONDO soaring 13%: Why and what next?Immediately after the U.S. SEC announced that it had approved eight Ethereum [ETH] spot ETFs, Ondo's [ONDO] price rallied. Before the
Read more »