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SOL on-chain activity surges following spot Solana ETFs filing by VanEck

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SOL on-chain activity surges following spot Solana ETFs filing by VanEck

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana (SOL) sees a surge in on-chain activity amid growing excitement over Spot Solana ETFs, with investors turning to ETFSwap (ETFS) as a promising investment opportunity.

Solana (SOL) on-chain activity surged amid speculation on Spot Solana ETFs. VanEck made the first move for a Spot Solana ETF, which was followed shortly by 21Shares. Investors are in an early stage of excitement for Spot Solana ETFs in anticipation of the possible outcome of the proposed crypto funds. 

Amid these developments, ETFSwap (ETFS) has caught the eye of investors as a unique investment opportunity to capitalize on ETF growth. The defi platform’s ongoing presale sets up early investors for a profitable entry into launch.

On-chain trends show positive reaction on Solana

Spot Solana ETFs have become a hot topic following the filings from VanEck and 21Shares. Solana price has reacted positively to the news, and on-chain trends show spiking activity on the network. Prior to the spot Solana ETF applications, Solana had previously dropped from its June high of $175 to its monthly low of $124.

The excitement on Spot Solana ETFs shot the price up to $153, and investors expect a further price surge as the development unfolds. In addition to the positive price reaction, on-chain data shows that daily transaction volume increased from 32.7 million at the start of June to 43.8 million by June 30, recording 34% growth.

The Block also reports the highest non-vote transactions on Solana in the past two years. The network also claimed 25% of trading volume in the DEX market, recording $38.4 billion in June and ranked fourth in NFT sales.

Amid the recent spike in activity, Solana is trading at $135 as of this writing. The cryptocurrency has shown a 620% growth in the past year, and the buzz on Spot Solana ETFs is set to push it higher. 

However, VanEck analysts have expressed concerns about the approval of Spot Solana ETFs unless the SEC sees a change in leadership. VanEck executives believe that the current SEC chair is creating stringent conditions for altcoins, which may hinder the approval of the crypto ETF.

ETFSwap set to rocket to massive heights

The filings for Spot Solana ETFs have fostered bullish narratives for ETFs, and ETFSwap is able to capitalize on it as a platform for ETF trading. The new platform aims to leverage blockchain to democratize access to the global ETF market. ETFs have become increasingly popular in crypto landscapes, but existing in centralized markets has its barriers for crypto investors looking to diversify.

ETFSwap will offer tokenized ETFs, which make it easy for crypto investors to get in and are compatible with cryptocurrencies. The tokenized ETFs will be backed by securities purchased from traditional markets, allowing the assets to maintain equal value. Also, the new ETF trading platform will collaborate with regulated investment banks that trade the securities and crypto market to provide users with easy services.

The blockchain-based platform will facilitate quicker settlements, limitless swaps between crypto and ETFs, high yields from staking, access to liquidity, permissionless trading, and more. ETFSwap stands as a beacon of financial revolution, offering smoother and more flexible investment access to ETFs. 

Moreover, the new platform is a first-mover, securing its prospects for success ahead of launch. ETFSwap is set for its beta launch in a couple of weeks, allowing investors to access early testing on the platform.

Conclusion

The anticipation of Spot Solana ETFs has caused a spike in the SOL network as investors seek other investment opportunities to capitalize on the excitement. ETFSwap has emerged as the perfect opportunity to bet on the overall growth of ETFs, and experts predict massive returns on the ongoing presale.

The ongoing presale offers a low entry of $0.01831 with the potential for 108x returns at launch. Interested users can get in now before the price increases to $0.03846 in the next presale stage.

To learn more about ETFS presale, visit the ETFSwap presale and join the ETFSwap community.

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