Today we have something more serious on the agenda than the new gender-neutral shoe polish. We will talk about how Solana, once the ‘buggiest blockchain network in the galaxy,’ suddenly became a darling of Wall Street. Now even serious uncles in suits want a piece of this ‘decentralized pie.’
Open interest has soared! And it's not about elections... for now
What will you feel if I tell you that open interest in Solana futures has increased by 12% in a day and stands at $7.54 billion? Joy? Horror? A desire to Google what ‘open interest’ is?
So, this is a lot. About as much as Joe Biden is verbose when he forgets what he is even saying. This is almost peak levels. And peak levels are like the Titanic: everyone wants on board until the icebergs come up. But right now? Everyone is rushing into Solana.
ETF on Solana? Of course, why not!
If you thought ETFs were only about gold, oil, and ‘dad's stocks,’ welcome to 2025, where the agenda is a spot ETF on Solana. The probability of its approval is 91%, according to Polymarket. And Polymarket is not a CNN poll, these guys actually bet their money on their predictions.
VanEck, Grayscale, Bitwise — who’s next? McDonald’s with NFT hamburgers?
Analysts say: if the ETF is approved, Solana will shoot to the moon. Where exactly? Well, some say $300, some — $335. And some just want the network not to crash during the meme.
Technical analysis for those who consider charts an art
The weekly chart shows a bullish flag. Do not confuse it with the ‘Exiting DEI Program’ flag, this one is real. And it points to a target of $335. RSI? Perfect — 51. Not too hot, not too cold. In general, the market feels like a CNN reporter — confident, but without specific arguments.
And what about the fundamentals?
Who would have thought: TVL of Solana is at a maximum since June 2022. Active addresses have increased by 38.5%, DApps are bursting with traffic like liberal Twitter after Trump's speech.
Solana is back on the horse. Not a decentralized one, of course, but a very confident one.
So what now?
If the ETF is approved — and, judging by 91%, it's not an ‘if’ but a ‘when’ — we may very well see Solana shoot up, leaving behind all those who called it ‘Ethereum for the poor.’
