Solana Frenzy: Big Buyers Fueling Rally On Top Crypto Exchanges
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Solana (SOL) is witnessing a spike in trading due to a combination of factors such as substantial buy orders from institutions and the anticipation of SOL-based ETFs. Key exchanges like Binance, Coinbase, Gate.io, and OKX are seeing increased activity. Data from Coinact.gg highlights a significant 'Major TWAP' signal, suggesting big buyers are accumulating SOL, which reflects a long-term positive outlook. The prospect of SOL-oriented ETFs, set for a possible release by March 2025, is driving new investor interest. Analysts predict a continuous rise in SOL price, with technical indicators also showing a positive trend. Despite the overall positive sentiment, some fundamental issues persist in the broader crypto market, as reflected by the Fear & Greed Index (29). The expectation that ETFs will simplify regulated SOL investments is bringing in a new wave of investors. With an 8% price rise in the last week, Solana's future appears promising.
Source : www.newsbtc.com ↗
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