The price of Solana (SOL) has risen sharply following the news of the Invesco Galaxy ETF registration in Delaware. This registration is perceived by many as a significant move that could increase institutional investment in Solana, leading to greater demand for the cryptocurrency. Market analysts believe that the ETF could attract both retail and institutional investors looking for exposure to Solana.
"The registration of an ETF is often seen as validation for a cryptocurrency, and it can lead to a surge in interest and investment," said a market analyst familiar with crypto assets. The recent price increase indicates that traders are responding positively to this news, a trend that could continue if the ETF gains traction.
As of the latest data, SOL is trading around $25.5, with potential targets set at $27 and $28.5. Investors should also note the support level at $24, which is crucial for those considering entering the market now.
"The registration of an ETF is often seen as validation for a cryptocurrency, and it can lead to a surge in interest and investment," said a market analyst familiar with crypto assets. The recent price increase indicates that traders are responding positively to this news, a trend that could continue if the ETF gains traction.
As of the latest data, SOL is trading around $25.5, with potential targets set at $27 and $28.5. Investors should also note the support level at $24, which is crucial for those considering entering the market now.
