In November 2024, the price of the Solana (SOL) blockchain token exceeded its previous all-time high of $259.96, set in 2021. At the time of writing, the token is trading at $250, demonstrating a growth of 34.88% over the last month and 290.99% over the year.
Additionally, trading volumes on decentralized exchanges (DEX) Solana have set new records. In November, the monthly trading volume reached $127.8 billion. The daily trading volume on November 29 reached $3.78 billion, and the weekly volume was $33 billion.
The number of transactions on Solana is also consistently increasing.
Therefore, analysts have not ruled out that SOL could reach the $1000 mark by 2025. But the main condition for this is the creation of a Solana exchange-traded fund (ETF).
ETF Store President Nate Geraci is confident that these funds will be approved by the end of 2025. According to him, the SEC is currently actively interacting with issuers. The American stock exchange Cboe BZX has filed four applications for the launch of spot ETFs on Solana in collaboration with major players such as VanEck, 21Shares, Bitwise Asset Management, and Canary Capital. VanEck’s head of digital assets research, Matt Siegel, shares this opinion.
Optimism is bolstered by political changes in the USA, as a crypto-positive administration led by Donald Trump will come to power.
ETFs on Solana will open new opportunities for institutional and retail investors. They will have regulated and convenient access to SOL tokens through traditional financial channels, such as banks and stock exchanges. ETFs also offer instant diversification, reducing risks, and high liquidity.
Source: Financial Times, The Block, Binance News, CAB