Solana Price Analysis: SOL Traders Could Earn 80% Profits From Ethereum ETF Launch

Bitcoin ETFs have accumulated almost $60 billion worth of BTC within 6 months of their launch. Based on conservative estimates, Ethereum ETFs are likely to attract around 50% of that amount in the same time frame. This figure could even be higher than $30 billion due to the remortgaging of assets and passive income opportunities presented by the Proof-of-Stake consensus.

Taking a cue from the chart above, having attracted 30.85% of all Ethereum outflows over the past year, Solana is well-positioned to extract a significant portion of the potential. spot ETH ETF fund inflows in the coming months.

If inflows into the Solana DeFi ecosystem increase as expected, SOL price is invariably poised for a considerable rise.

Solana Price Forecast: Bulls to Stop Further Declines Below $130

Solana is currently trading at around $102.74, experiencing a modest gain of 1.62% during the day on June 23.

Price action shows SOL fluctuating in a descending triangle pattern, bounded by descending resistance and horizontal support. This trend generally signals a bearish continuation, but the strong defense of the 200-day SMA adds a layer of complexity to this outlook.

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