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The volatility Shares LLC, based in Florida, launches two funds negotiated on the stock market (ETF) linked to Solana Futures. According to a file with the Securities and Exchange Commission of the United States (SEC), these products will begin to negotiate today-marking the first time that traditional financing investors (tradfi) will obtain specialized ETF access to all five largest cryptocurrencies by market capitalization.
The CME group, the largest exchange in the world, presented Solana Futures on Monday. Based on this, the volatility of Solana ETF actions will reproduce the performance of these Solana’s term contracts from tomorrow. Meanwhile, volatility shares 2x Solana ETF (Ticker: Solt) will offer a double lever effect exposure for those looking for amplified yields on the still emerging Solana contracts market.
“First Solana ETF in the United States will launch tomorrow from Volshares. I will follow the future. One is 2x. Solana equivale job On X yesterday.
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Despite the fanfare around these new ETFs, the initial enthusiasm of Solana Futures seems relatively modest. Recent data shows that Solana Futures has generated a daily nominal trading volume of approximately $ 12.3 million, a contrast that hit the first days of Bitcoin and Ethereum’s term contracts, which experienced significantly higher figures during their respective launches.
However, the K33 research firm stresses that the lower nominal volume aligns with Solana’s market capitalization compared to the size of Bitcoin and Ethereum in their beginnings. “With Little Fuzz and Fanfare, Sol Futures was launched on CME yesterday. The volumes of the launching day were much lower than those of the launches of BTC and ETH. However, if you normalize the volumes to stock market capitals in launch days, the launch aligns closer to the two,” wrote Vetle Lunde, head of the research in K33, in an X in an X job.
Solana Price at a central point
Solana is currently negotiating at $ 131.6, down more than 50% compared to its top of all time (ATH) in mid-January. A large part of this slowdown has been attributed to Decreasing enthusiasm in the same– An area where Solana has been particularly active and has often been presented as an “Ethereum killer”.
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However, in the past 24 hours, Solana has earned more than 6%, partly supported by the widest Cryptography market reaction to the last decision of the Federal Committee on the Open Market (FOMC). While the Federal Reserve has chosen to maintain its unchanged reference interest rate, the Central Bank has also announced a significant slowdown in its bond runoff – often called “quantitative tightening”.
From April, the Fed will reduce its runoff from the monthly government obligations of 25 billion to $ 5 billion, a decision that many analysts interpret as bruises for risk assets such as cryptocurrencies.
From a technical point of view, the ground price approaches the level of retracement of 0.5 fibonacci at $ 133, a threshold which is closely aligned with the exponential mobile average of 100 days (EMA) at $ 133.65.
A daily closure above both levels would be considered bullishOpening the possibility of a rally towards the Fibonacci retracement from 0.618 to 166.7 $, which cuts with EMA of 50 days. In the longer term, traders are considering mid -January Ath nearly $ 296 as a potential target – although conquering immediate resistance levels remains a critical obstacle.
Shutterstock star image, tradingView.com graphic
