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Reading: Solana Gears Up for Major Market Shift on March 17
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COINTURK NEWS > Solana (SOL) > Solana Gears Up for Major Market Shift on March 17
Solana (SOL)

Solana Gears Up for Major Market Shift on March 17

In Brief

  • Solana's ecosystem plays a significant role in its cryptocurrency landscape.

  • The CME will start offering SOL price contracts on March 17.

  • Price movements indicate potential growth in the upcoming months.

İlayda Peker
İlayda Peker 3 months ago
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The rise of cryptocurrencies owes much to the peculiarities within the Solana $154 ecosystem. However, there is also undeniable interest from new investors in the dramatic price movements. The Solana network has paid a heavy price for this volatility, suffering significant losses. Yet, it has not perished and has the potential to emerge stronger.

Contents
Latest News on Solana (SOL)The Significance of This Development

Latest News on Solana (SOL)

The Chicago Mercantile Exchange (CME), one of the largest derivatives exchanges globally, has been implicated in the market collapse due to the drop in BTC futures premium. This exchange will allow investors to sell contracts based on the price of SOL for specific maturities. An announcement was made stating this would commence on March 17, although the notice was removed from the official site at the time this report was prepared.

The Significance of This Development

This development holds significance on several fronts. Primarily, it signifies the elevation of SOL Coin into the upper echelon, alongside BTC and ETH. The approval of ETFs is on the horizon, and hedge funds may create demand in the spot market to leverage the premium between futures and spot prices, potentially driving prices up.

Following the news, the price increased by approximately 4%, and the medium-term effects of this development will become clearer over time.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 28 February, 2025 - 5:25 pm 28 February, 2025 - 5:25 pm
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By İlayda Peker
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