Bitcoin
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$63,638.00 0.95817
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BNB
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$567.92 -0.6192
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$155.60 1.84627
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$63,638.00 0.95817
Bitcoin price
Ethereum
Ethereum (ETH)
$3,399.07 0.86785
Ethereum price
BNB
BNB (BNB)
$567.92 -0.6192
BNB price
Solana
Solana (SOL)
$155.60 1.84627
Solana price
XRP
XRP (XRP)
$0.5746780 8.51227
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000190 5.48755
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000118 22.19648
Pepe price
Bonk
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$0.0000266 7.85537
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Bitcoin
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$63,638.00 0.95817
Bitcoin price
Ethereum
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$3,399.07 0.86785
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BNB
BNB (BNB)
$567.92 -0.6192
BNB price
Solana
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$155.60 1.84627
Solana price
XRP
XRP (XRP)
$0.5746780 8.51227
XRP price
Shiba Inu
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$0.0000190 5.48755
Shiba Inu price
Pepe
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$0.0000118 22.19648
Pepe price
Bonk
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$0.0000266 7.85537
Bonk price
Bitcoin
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$63,638.00 0.95817
Bitcoin price
Ethereum
Ethereum (ETH)
$3,399.07 0.86785
Ethereum price
BNB
BNB (BNB)
$567.92 -0.6192
BNB price
Solana
Solana (SOL)
$155.60 1.84627
Solana price
XRP
XRP (XRP)
$0.5746780 8.51227
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000190 5.48755
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000118 22.19648
Pepe price
Bonk
Bonk (BONK)
$0.0000266 7.85537
Bonk price

Solana breaks $20b market cap as ETF buzz fuels Bitcoin over $37k

solana-breaks-20b-market-cap-as-etf-buzz-fuels-bitcoin-over-37k
Edited by
News
Solana breaks $20b market cap as ETF buzz fuels Bitcoin over $37k

The coin was one of the top gainers on Nov. 9 amid a broad market upturn that propelled Bitcoin (BTC) to an 18-month high as crypto’s leading token headed toward $38,000.

Bitcoin’s leap above $37,000 for the first time since May 2022 coincided with Solana’s market cap breaking above the $20 billion mark as inflows poured into cryptocurrencies across the board. 

The last time SOL boasted a market cap north of $20 billion was in summer of 2022, during Terra’s collapse and caused subsequent bankruptcies among some of the industry’s top firms, like Three Arrows Capital.

Solana (SOL) has seen double-digit gains in 24 hours and during a seven-day sprint as digital asset proponents surmised that crypto winter might be thawing in the run-up to a possible spot Bitcoin ETF approval from the U.S. Securities and Exchange Commission (SEC).

Solana breaks $20b market cap as ETF buzz fuels Bitcoin over $37k - 1
Top 10 cryptocurrencies on Nov. 9 | Source: Coingecko

While BTC flirted with $38,000, rising as high as $37,900 on some trading venues, the SEC is reportedly in talks with Grayscale regarding the firm’s BTC ETF. 

Grayscale CEO Michael Sonnenshein said that a possible timeline for a decision was not disclosed by America’s securities watchdog, however, an eight-day window opened where all 12 applications could be approved as reported by crypto.news.

Experts at Galaxy Digital predicted a 74% increase in BTC prices as ETFs could usher in $14.4 trillion of capital in their first year. This number could rise to $39 billion by year three, as the firm sees spot Bitcoin ETFs as a more efficient investment channel compared to existing options.