- GSR Markets analyzes the potential launch of the Solana ETF whereas assessing diversification and demand scores.
- The ETF Probability Rating signifies a possible launch for the Solana Spot ETF.
- The report predicts that the value of SOL will improve 8.9 occasions after the ETF launches.
GSR Markets, a well known cryptocurrency buying and selling platform and liquidity supplier, not too long ago printed a weblog submit analyzing the prospects for a spot Solana exchange-traded fund. Whereas Solana is listed as one of many high three cryptocurrencies, GSR’s evaluation means that Solana could possibly be a candidate for an ETF, following within the footsteps of Bitcoin and Ethereum.
The principle figuring out components for the following spot ETF would be the stage of decentralization and potential demand. To evaluate Solana's decentralization rating, GSR Markets analyzed metrics such because the Nakamoto Coefficient, staking necessities, and CCData governance score. When it comes to decentralization, Solana ranks second solely to Ethereum with a rating of 0.4, whereas Ethereum scored 0.5.
Within the demand evaluation, GSR evaluated numerous metrics, together with market metrics, present product property below administration (AUM), and exercise metrics. The evaluation recognized Ethereum, Solana, and Close to as blockchains with above-average demand. Ethereum ranked first with a rating of 1.5, adopted by Solana and Close to with scores of 0.7 and 0.1, respectively.
The diversification and demand scores are mixed to kind the ultimate ETF rating. Solana acquired a rating of 0.58, putting it second solely to Ethereum's 1.13. The report means that if the SOL ETF have been to launch, it might improve SOL costs by 1.4x in a bear market and eight.9x in a bull market. Moreover, GSR's “Blue Sky Situation” predicts that the Solana Spot ETF might seize 14% of Bitcoin ETF flows since its launch in January.
In the meantime, the SOL token is trending positively, recording a day by day surge of over 6%. Presently buying and selling at $144.77, Solana has skilled a notable 9% improve over the previous week, regardless of a 13.15% drop within the final month.
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