The post How will CME Group’s Solana Futures plan affect SOL’s price action? appeared on BitcoinEthereumNews.com.

SOL recovered significantly on the charts, hiking by almost 20% in 24 hours CME group is set to launch Solana Futures on 17 March for micro-sized contracts and a larger-sized contract Over the last 24 hours, Solana [SOL] has registered a strong upswing on its price charts. In fact, the altcoin recovered from a 6-month low of $125 to climb to $151 -A 20% recovery. Over the same period, Solana’s trading volume spiked by 32.59% to hit $6.54 billion. Equally, Options volume climbed by 63% to $5.12 million while Open Interest surged by 14.86% to $4.6 billion. In light of the latest price pump, the question that arises is what’s driving the upward momentum and whether SOL can hold on to it. According to AMBCrypto’s analysis, the CME Group’s latest announcement may be the good news that investors have been waiting for. CME Group to launch Solana Futures According to a press release from the CME Group, the leading derivates marketplace has announced plans to launch Solana Futures on 17 March, pending regulatory review. With the launch, market participants will have the choice to trade both a micro-sized contract (25 SOL) and a larger-sized contract (500 SOL). The Head of Crypto Products at CME group added, “With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk.” Importantly, the CME group believes that Solana will continue to grow and evolve into the most reliable platform for investors and developers. CME Group SOL Futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate. Thus, their entry will greatly benefit all stakeholders within the ecosystem. What it means for SOL’s price As expected, this announcement was well received by investors, with whales…

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Filed under: News - @ March 1, 2025 11:23 am