Solana on the Road to Success? First Solana ETF To Be Launched in Brazil

Brazil is set to become the first country to launch a Solana-backed ETF (Exchange Traded Fund) . The move, led by QR Asset and managed by Vortx, could revolutionize Brazil’s financial landscape. The final green light from the Brazilian Stock Exchange is still pending, but the excitement is already palpable.

Meanwhile, in the United States, approval of a Solana ETF remains uncertain. The SEC, still wary, considers Solana a financial security. This stance makes the future of such a product in the United States more unclear.

Solana surpasses Ethereum in transaction fees

Another piece of news that propels Solana to the forefront is the skyrocketing fees generated by Pump.fun , a token launch platform on Solana. With $5.3 million in fees in a single day , this platform surpasses even Ethereum, which is known for its high fees.

This remarkable performance is explained by the Pump.fun update. This allows tokens to be created and traded in one click for free . In addition, the creator receives 0.5 SOL once the token completes its “Bonding Curve”. This is often linked to the total issuance of tokens .
In fact, it determines how new tokens are issued based on demand and can influence the total amount of tokens in circulation.

Note also that the majority of tokens launched do not complete it. Because they generally never reach a million dollars of capitalization. This is why now, the creators will seek to improve the success of these projects.

Huge upside potential for Solana

Despite recent price fluctuations, analysts remain optimistic about Solana’s future. Currently, the token is hovering around $140-150, but some experts predict a possible rise to $500 in the next bull cycle. This prediction is based on a “wave 5” model that could double Solana’s previous all-time high.

However, bearish signals are also emerging. A head and shoulders pattern on the charts could be triggered. Leading to a significant decline if Solana breaks below $141. As a result, such a move could call into question Solana’s continued rise since the beginning of the year.

Conclusion

Between the potential arrival of an ETF in Brazil , the dominance of transaction fees compared to Ethereum, and predictions of a substantial increase, Solana continues to capture the attention of investors. But, with technical risks at play, the future remains uncertain.

If a bullish trigger occurs, this could particularly benefit the entire sector of the Solana ecosystem. Presales like Base Dawgz are well positioned to benefit. Indeed, the presale is evolving both on Base, which is launching the next Wrapped Bitcoin and Solana, which is on the verge of exploding.

In any case, stay tuned, because Solana may well continue to surprise us.

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(Featured image by Raphael Nogueira via Unsplash)

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