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- Solana (SOL) Exchange Traded Fund is reportedly in the pipeline as a digital asset manager makes its submission, pending approval.
- The hype generated by this groundbreaking move is expected to propel Solana-based coins including Render (RNDR), Dogwifhat (DOF), Arweave (AR), and Popcat (POPCAT) to a significant height.
Digital asset manager 3iQ has officially filed for a Solana (SOL) Exchange Traded Fund (ETF) on Canada’s Toronto Stock Exchange (TSE). According to reports, its approval could make the Fund the first Solana ETF in North America.
3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering. This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained, the… pic.twitter.com/7ghv05f8gU— 3iQ Digital Asset Management (@3iq_corp) June 20, 2024
Amid this hype, analysts have highlighted four Solana-based coins that could maximize this situation for an unprecedented price move.
Dogwifhat (WIF)
WIF is expected to make the most out of this hype after surging by 1028% since launch. At press time, the meme coin was trading at $1.7 following a significant decline of 29% in the last seven days to hit its lowest price in the last 30 days.
According to our market data, WIF has always maintained a price above $3 and even reached as high as $4.85 this year. With its pace of growth, the asset has been predicted to hit $10 once the Solana trend returns.
Render (RNDR)
Render (RNDR) was one of the most successful coins last year, having risen by more than 700%. Since its launch, RNDR has surged by 18,993%, contributing to its leap into the list of top 30 largest cryptos with a market cap of $2.8 billion. On March 17, 2024, RNDR recorded its highest price at $13.6, but has since declined with the price trading at $7.4 at press time. According to analysts, this asset has the potential to rise twice its current value as it did in March.
Arweave (AR)
AR rose to popularity after hitting a surprising peak at $90 in November 2021. At press time, the asset was trading at $27, representing a considerable decline of more than 70% from its all-time high. Currently, AR is struggling to push into the $28 resistance zone as the asset declined by 3% in the last seven days and 30% in the last 30 days. According to analysts, AR can easily initiate another all-time high rally to surpass the 2021 high amid the Solana ETF hype.
Popcat (POPCAT)
Popcat is recognized among the cat-themed meme coins apart from being a Solana token. This year alone, Poptcat has surged by a staggering 1385%. In April, it surged to an all-time high of $0.7221 and has since lost about 66% of its value to trade at $0.29 at press time. In the last 24 hours, the asset has pulled an incredible upsurge of 19% to increase its market cap to $288 million.
Expectedly, Solana (SOL) has also been predicted to rise along with these coins as it currently seeks to recover the 17% loss recorded this month. At press time, SOL was trading at $134.
