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Solana's price surged over 10% to exceed $200 following a $55 million SOL transfer to Kraken, coinciding with increased speculation around a potential U.S. spot Solana ETF approval. Analysts suggest that such approval could push Solana's price toward $400, with major asset managers vying to launch the first ETF. Globally, Brazil's approval of its first Solana ETF has further fueled market optimism, contributing to Solana's growing appeal.
Solana's price surged over 10% to exceed $200 after a $55 million transfer from Pump.fun to Kraken, following a dip to $189 earlier in the day. The memecoin platform has exerted significant sell pressure on Solana, depositing over $303 million and selling more than $41 million worth of SOL in 2024.Anticipation for a U.S. spot Solana ETF is growing, with a 76% likelihood of approval, potentially driving prices to $400 by 2025. Major asset management firms are competing for ETF approval, with deadlines approaching for several applications.
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