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The Solana price surged by another 20% in the last 24 hours, reaching $63.10 at 7 a.m. EST following the listing of SOL perpetual futures on Coinbase, which boosted its accessibility to institutional investors.
Solana is one of the largest gainers among the top 10 largest cryptocurrencies by market cap in the past 30 days. Between October 16 and November 15, the SOL price increased by over 171%. Even in the last week alone, the SOL price has risen by over 37%.
Why Is The Solana Price Price Surging?
Fundamental analysis reveals several reasons for Solana’s recent price increase.
One reason is Solana’s recent Breakpoint 2023 event, during which a JavaScript Engineer at Solana Labs, Steven Luscher, spoke on the latest iteration of Solana Web3.js.
He stressed the implications for developers seeking to construct dApps on the project’s blockchain. He noted that Web3.js is a comprehensive toolkit that will empower the devs to establish a stronger connection with blockchains.
Another reason, which may have had an even more significant impact, is the recent listing of SOL perpetual futures on Coinbase, the largest regulated crypto exchange in the US.
The listing has made the product more accessible to institutional investors but also more appealing. At the very least, the option gives users more leverage to bet on the asset’s price movements.
Experts have also suggested several other growth factors worthy of consideration, including the bullish crypto market, significant institutional involvement with the crypto industry, and the FOMO effect influencing investor behavior.
Bitcoin ETF Token Presale Blows Up As Expectations Of Spot ETF Approvals Rise
While Solana’s success has put the project under the spotlight, many among opportunity seekers are turning to the Bitcoin ETF (BTCETF) token, and its presale has seen a storming success.
Bitcoin ETF is a token that aims to reward holders for their support once Bitcoin spot ETFs start gaining approvals in the US.
The presale has reached $710k raised as of the time of writing, while the current price of its token, BTCETF, sits at $0.0052.
https://www.youtube.com/watch?v=hsO9HNneaDg
However, the token is scheduled to see a price increase in under 24 hours, so this is the last chance for opportunity seekers to buy it at a lower price.
Those who decide to act before the value increase can buy it in exchange for ETH, USDT, or via credit/debit card.
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