{"id":9243,"date":"2025-01-23T09:35:29","date_gmt":"2025-01-23T09:35:29","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9243"},"modified":"2025-01-23T09:35:29","modified_gmt":"2025-01-23T09:35:29","slug":"january-23-a-potential-game-changer-for-solana-sol","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9243","title":{"rendered":"January 23: A Potential Game-Changer for Solana (SOL)"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li>The SEC\u2019s pending decision on Grayscale\u2019s Solana ETF, due today, could have a major impact on the underlying token.<\/li>\n<li>The Chicago Mercantile Exchange\u2019s plan to launch SOL and XRP futures on February 10 has already influenced the performance of the assets. The products (if they go live) may attract more institutional investors and positively influence both tokens in the long term.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-380008\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3.jpg\" alt=\"\" width=\"1201\" height=\"720\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3.jpg 1201w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3-300x180.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3-1024x614.jpg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3-768x460.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL_CB-3-50x30.jpg 50w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"><\/a><\/p>\n<h2>The Potential Catalyst<\/h2>\n<p><span data-preserver-spaces=\"true\">Solana (SOL) has been among the top-performing cryptocurrencies in the last week, with its price soaring by over 20% for that timeframe. It <a href=\"https:\/\/cryptopotato.com\/solana-sol-rockets-to-new-all-time-high-as-trump-mania-sweeps-the-market\/\" data-wpel-link=\"internal\">reached<\/a> a new all-time high of more than $285 on January 19, while currently, it trades just south of $250.<\/span><\/p>\n<figure id=\"attachment_380007\" aria-describedby=\"caption-attachment-380007\" style=\"width: 584px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-380007\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price.png\" alt=\"SOL Price\" width=\"584\" height=\"400\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price.png 1052w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price-300x205.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price-1024x701.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price-768x526.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/SOL-Price-50x34.png 50w\" sizes=\"auto, (max-width: 584px) 100vw, 584px\"><\/a><figcaption id=\"caption-attachment-380007\" class=\"wp-caption-text\">SOL Price, Source: CoinGecko<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">One <\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\"> factor suggesting that the bull run may prevail is Grayscale\u2019s intention to convert its Solana Trust Fund into an exchange-traded fund (ETF). The agency responsible for approving such filings in the US is the Securities and Exchange Commission (SEC). Its initial decision deadline for Grayscale\u2019s investment vehicle is <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/Poloniex\/status\/1882005289744167323\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">set<\/span><\/a><span data-preserver-spaces=\"true\"> for today (January 23).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The recent shifts in the Commission\u2019s leadership have caused some industry participants to speculate that the aforementioned ETF could receive the necessary green light. Up until January 20, the SEC was led by Gary Gensler, who was known as an enemy of the cryptocurrency industry. However, he <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/gary-gensler-officially-out-what-does-it-mean-for-ripple-xrp\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">stepped down<\/span><\/a><span data-preserver-spaces=\"true\"> on the day of Donald Trump\u2019s inauguration, with the pro-crypto Mark Uyeda succeeding him at the helm.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Other well-known companies that have filed to launch SOL ETFs on American soil include VanEck, 21Shares, Bitwise, and Canary Capital. <\/span><span data-preserver-spaces=\"true\">The SEC has until January 25 to <\/span><span data-preserver-spaces=\"true\">give its nod<\/span><span data-preserver-spaces=\"true\"> or deny those applications.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It is important to note that the watchdog <\/span><span data-preserver-spaces=\"true\">has the authority to<\/span><span data-preserver-spaces=\"true\"> extend its review period beyond the initial deadlines. <\/span><span data-preserver-spaces=\"true\">This<\/span><span data-preserver-spaces=\"true\"> was a <\/span><span data-preserver-spaces=\"true\">common<\/span><span data-preserver-spaces=\"true\"> policy during Gensler\u2019s reign, and we have yet to see whether the agency will keep this practice after the changes at the top.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Nearly a year ago, the SEC <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/its-official-sec-approves-bitcoin-spot-etfs-for-trade-in-the-united-states\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">approved<\/span><\/a><span data-preserver-spaces=\"true\"> a wave of spot Bitcoin ETFs for trade in the United States. The companies behind the funds included popular names such as BlackRock, Grayscale, Bitwise, Wisdom Tree, and others. The price of the primary cryptocurrency <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/was-the-spot-bitcoin-etf-approval-sell-the-news-event-btc-tumbled-by-7k-in-2-days\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">plunged<\/span><\/a><span data-preserver-spaces=\"true\"> after the announcement, but a few weeks later, it started pumping substantially.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">might serve<\/span><span data-preserver-spaces=\"true\"> as a warning to investors that the potential launch of a spot Solana ETF in America could be <\/span><span data-preserver-spaces=\"true\">generally<\/span><span data-preserver-spaces=\"true\"> beneficial for the valuation of the underlying asset but may also lead to enhanced volatility and a move to the downside in the short term.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The Additional Bullish Element<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Another factor that could positively impact Solana\u2019s price is the supposed plan of the Chicago Mercantile Exchange to <\/span><span data-preserver-spaces=\"true\">introduce<\/span><span data-preserver-spaces=\"true\"> SOL and XRP futures. The financial derivatives exchange is looking to do so <\/span><span data-preserver-spaces=\"true\">on February 10<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The news had an immediate impact on the prices of both assets. SOL pumped <\/span><span data-preserver-spaces=\"true\">to<\/span><span data-preserver-spaces=\"true\"> as high as $270, whereas XRP briefly <a href=\"https:\/\/cryptopotato.com\/whats-behind-ripples-xrp-5-price-surge-in-minutes\/\" data-wpel-link=\"internal\">jumped<\/a> to $3.28.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The contracts (if approved) will allow people to speculate on the future price of the <\/span><span data-preserver-spaces=\"true\">aforementioned assets<\/span><span data-preserver-spaces=\"true\"> without actually owning them. They may attract an additional number of investors into the Solana and Ripple ecosystems, possibly having a positive influence on the prices of their native tokens.\u00a0<\/span><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/january-23-a-potential-game-changer-for-solana-sol\/\" rel=\"nofollow\">January 23: A Potential Game-Changer for Solana (SOL)<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR The SEC\u2019s pending decision on Grayscale\u2019s Solana ETF, due today, could have a major impact on the underlying token. The Chicago Mercantile Exchange\u2019s plan to launch SOL and XRP futures on February 10 has already influenced the performance of the assets. The products (if they go live) may attract more institutional investors and positively [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-9243","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9243"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9243\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}