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FxWirePro- BNBUSD Trade Idea 
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Growing Interest in Solana ETFs
A couple of asset managers have applied for Solana ETFs, and this cryptocurrency investment is more in the public interest. Now, five companies—Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital—are left pending approval from the US SEC till January 2, 2025. Prediction markets assert that this is approval to the tune of 85% opposition stands at 45% against this. Nevertheless, regulatory risks loom here since the US SEC has termed Solana or SOL a security; it becomes rather skeptical to see whether such applications will succeed. This has been vouched for by SEC stating that they will nix some applications based on scrutiny of the issue..
Whale Accumulation and Market Revival
Recent activity among the whales, or big investors, indicates that they are buying Solana (SOL) tokens in anticipation of a price increase to $300 in January 2025. This is part of a wider resurgence in interest in Solana, which is driven by a rise in stablecoins and meme coins. Between December 1, 2024, and January 1, 2025, Solana's stablecoin volume grew by 12.6% to $5.18 billion, with USDC accounting for about 74% of this. Increased whale buying is raising the bar for SOL's price. The meme coin market on Solana has also grown significantly, achieving a total market cap of around $21 billion. Analysts are optimistic about the future of Solana, especially if a spot ETF is approved, which could increase the investments in it. Overall, whale interest, stablecoin growth, and memecoin popularity will send an optimistic message toward Solana as 2025 approaches.
Price Trends and Trading Strategies
SOLUSD has pulled back after reaching a fresh all-time high and is currently trading around $207. Near-term support is found at around $190, and a drop below that could lead to targets of $175, $160, or $150. Traders should monitor the crucial near-term resistance at $228; breaking through this level could result in further price increases to $249, $265, or even $300. A recommended strategy is to buy on dips around $190 with a stop-loss set at $160 and a target price of $300.
