Institutional Interest Rising 

A deep and structured market environment is attracting hedge funds and asset managers to SOL. CME products attract professional capital, and the increased trading volume reflects growing confidence among institutional investors. SOL’s price rose approximately 3.8% in 24 hours, reaching $145. Additionally, CoinDesk reported that the price jumped from $133.55 to $145.47 during that period, with the surge supported by CME data. 

At the launch of SOL futures in March, CME volume was relatively low. In April and May, the contract volume ranged between 350,000 and 900,000. However, this month it exceeded 1 million and subsequently hit a new record. 

On the other hand, Glassnode data shows a sharp rise in both Solana’s price and futures volume in June. Prices fluctuated at the beginning of the month, but trading volume remained low. As the price approached $145, futures activity significantly increased. As a result, the number of contracts reached 1.75 million, setting a new record. 

Future Expectations 

CME Group launched two futures contracts in March: one for 500 SOL and another for 25 SOL. Regular futures trading could form critical infrastructure on the road to SEC approval of spot SOL ETFs. The first SOL ETF applications were submitted by VanEck and 21Shares in June 2024. For spot ETFs, trading data from CME is a regulatory requirement. 

When prices rise alongside futures volume, it typically means investors are taking bullish positions. However, futures trading can also indicate that investors are using hedging strategies to protect against sudden price drops. 

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The post SOL Futures Hit Record High on CME! appeared first on Coin Engineer.

“For many people, wallets feel complex. There’s still friction. They just want to push a button,” Wood said. According to her, ETFs offer convenience and remain a solid choice for those new to crypto or hesitant to manage private keys.

ETFs as an On-Ramp to Wallets

While ETFs provide a user-friendly entry point, Wood emphasized that they could serve as a bridge to wallet-based investing. She described wallets as a form of “insurance policy” in a world where traditional finance can falter.

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Data from Bitbo estimates that there are currently around 200 million active Bitcoin wallets worldwide. Meanwhile, spot Bitcoin (BTC) ETFs saw $2.75 billion in inflows during the week ending May 23, coinciding with Bitcoin reaching an all-time high of $111,970.

Ethereum, Solana, and Regulatory Hurdles

Wood also touched on Ethereum (ETH) ETFs, which have underperformed due to the SEC’s ban on staking features. The commission recently delayed its decision on Bitwise’s request to add staking to its Ether ETF. Despite this, Wood sees Ethereum as a starting point for investors exploring smart contracts before branching out to projects like Solana (SOL).

Still, she acknowledged that some investors, especially older institutions, may have been discouraged by the launch of the Trump memecoin on the Solana network. The coin dropped around 50% shortly after its debut, causing skepticism.

Looking ahead, Wood revealed that her team is finalizing a Solana price target, while ARK has already increased its Bitcoin bull case projection to $2.4 million by 2030, citing growing institutional demand and Bitcoin’s role as “digital gold.”

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The post Cathie Wood: Crypto ETFs Will Stay Relevant Despite Wallet Growth appeared first on Coin Engineer.

Solana (SOL) regained momentum in mid-2024. The price has stabilized in the $165-170 range. Trading above the 50 and 100-day moving averages, the price structure signals positivity. 

Helius CEO Mert Mumtaz highlighted growing confidence in Solana’s architecture. Unlike Ethereum’s Layer-2 solutions, Solana offers direct Layer-1 scalability, standing out with low transaction fees and stable performance. 

“Solana’s parallel fee architecture isolates traffic between applications. This prevents sudden fee spikes and ensures a predictable user experience.” 

2025 Price Prediction: Is $700 Realistic? 

SOL’s price shows strong technical signals. The RSI is at 56, maintaining a positive outlook. The Parabolic SAR remains below the candles, indicating the uptrend persists. If the $165-168 range holds, the next target is $184. Then, the psychological $200 level comes into play. If these levels are decisively broken, a rise to $700 in 2025 becomes plausible. 

“Solana is one of the few networks that keeps fees stable even during congestion. This is not only cost-effective but also predictable and sustainable.” 

Solana Technical Analysis 

• The RSI currently stands at 56.67, remaining above both the signal line and the neutral 50 level. This suggests buyers still dominate the market. There’s a slight pullback from the previous peak of 65.19, but this is seen as a healthy consolidation rather than a trend reversal. 
• Meanwhile, the Parabolic SAR stays below the price, signaling sustained upward momentum and buyer dominance. 
• If buyers firmly hold the $165-168 range, the price is expected to test the $184 resistance. If this resistance is broken, a rise to $200 becomes feasible. 
• However, if the price falls below the 50-day moving average, selling pressure could increase. In this scenario, the price risks dropping to $147. 

From the current $170 level, SOL would need roughly a 400% increase to reach $700. In the short term, the price must first clearly break $176 and then achieve weekly closes above $180. If these levels are surpassed, the price is said to reach $200. 

***Not Investment Advice ***

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The post Helius CEO: Solana Could Hit $700 in 2025!  appeared first on Coin Engineer.

Positive Reaction from Support!

SOL gained traction from the $110 support level and broke through key resistance areas, showing a strong short-term rally. However, it faced some selling pressure at the downward FVG region, leading to a brief rejection. For now, the price seems to be receiving positive reactions from this region.

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Key Levels to Watch

• If Solana successfully breaks above the downward FVG zone, we could see a move toward the $150 level. Achieving this level would significantly strengthen the trend.
• However, if the support fails and the price moves downward, a retracement back to the $110 level could be seen. In this case, a further decline may follow.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Solana in Support Zone: Can It Rise Again? appeared first on Coin Engineer.

Solana Price Analysis

Solana (SOL) is currently trading at $180.74, with a market capitalization of $449.155 billion. SOL is up 1.61% in the past 24 hours and 25.64% in the past 7 days.

Solana has been on a strong upward trend in recent times and could be a good investment opportunity.

Solana Price Prediction 2024

According to technical analysis, Solana’s minimum price in 2024 is expected to be $108.68 and its maximum price is expected to be $154. The average trading price is expected to be around $199.32.

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Fetch Price Analysis

Fetch.ai (FET) is currently trading at $0.26, with a market capitalization of $1.24 billion. FET is down 0.24% in the past 24 hours and 10.64% in the past 7 days.

Fetch.ai has been on a downward trend in recent times, but it could be due for a rebound.

Fetch Price Prediction 2024

According to short-term analysis, Fetch.ai’s average price in July 2024 is expected to be $0.545 and its maximum price is expected to be $0.583.

According to long-term analysis, Fetch.ai’s average price in November 2024 is expected to be $0.552 and its maximum price is expected to be $0.591.

Overall, both Solana and Fetch have the potential to be good investments in 2024. However, it is important to do your own research before investing in any cryptocurrency.

The post Solana and Fetch Price Analysis: Bullish or Bearish? appeared first on Coin Engineer.