Solana Price Prospects Improve, Franklin Templeton Submits SOL Trust Filing In Delaware
The post Solana Price Prospects Improve, Franklin Templeton Submits SOL Trust Filing In Delaware appeared on BitcoinEthereumNews.com.
Institutional appeal around Solana has been rising over the last few months with many expecting SOL to be the next coin to secure ETF approvals. While that is yet to happen, institutions are pushing for more Solana exposure and Franklin Templeton is the latest to join that race. Franklin Templeton has reportedly demonstrated interest in Solana’s native coin SOL. The investment company which has over $1.5 trillion in assets under management recently filed for the Franklin Solana Trust in Delaware. Source: X The filing underscores the growing interest in Solana from the institutional class of traditional Wall Street investors. It also suggests that a significant amount of institutional liquidity will likely flow into SOL once it secures ETF approvals. – Advertisement – Is Solana (SOL) Experiencing a Demand Build-Up? The recent Franklin Templeton filing raises hopes of SOL ETFs after the cryptocurrency has achieved a significant discount in the last 3 weeks. Solana daily address activity has also been declining but it too has flashed signs of a recovery. Daily active addresses on the Solana blockchain peaked at 6.63 million addresses on 22 November. Its latest wave of excitement in January saw daily active addresses soar as high as 5.69 million addresses on 24 January. Active addresses dropped as low as 4.11 million a week ago. Solana daily active addresses/ source: TheBlock Solana daily active addresses grew by roughly 280,000 addresses since 5 February, indicating renewed interest. This is important because address growth in the recent past was indicative of demand build-up. SOL Retests Short Term Support SOL recently dipped below $200 once more and it exchanged hands at $192 at press time, after tanking by 34% from its January peak. Its short term bottom range in the last 2 months has been trading within a slightly ascending trend line…
Filed under: News - @ February 13, 2025 6:19 pm