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- GSR Markets analyzes the potential of a Solana ETF launch, assessing decentralization and demand scores.
- The ETF Risk Rating signifies the potential launch of Solana Spot ETF.
- The report forecasts an 8.9x surge in SOL’s value following the ETF launch.
GSR Markets, a outstanding crypto buying and selling platform and liquidity supplier, lately printed a weblog submit analyzing the prospects of a spot Solana exchange-traded fund. Whereas Solana has established itself among the many high three cryptocurrencies, GSR’s evaluation suggests Solana may very well be subsequent in line for an ETF, following Bitcoin and Ethereum.
The important thing determinants for the following spot ETF are the extent of decentralization and potential demand. To evaluate Solana’s decentralization rating, GSR Markets analyzed metrics such because the Nakamoto Coefficient, staking necessities, and CCData Governance Score. When it comes to decentralization, Solana follows Ethereum with a rating of 0.4, whereas Ethereum scored 0.5.
For demand evaluation, GSR evaluated numerous metrics together with market indicators, present product property underneath administration (AUM), and exercise metrics. The evaluation recognized Ethereum, Solana, and Close to as blockchains with above-average demand. Ethereum ranks first with a rating of 1.5, adopted by Solana and Close to with 0.7 and 0.1, respectively.
The mixed decentralization and demand scores present the ultimate ETF rating. Solana secured a rating of 0.58, second to Ethereum’s 1.13. The report means that if a SOL ETF launches, it might drive the SOL value up by 1.4 occasions in a bear market and eight.9 occasions in a bull market. Moreover, GSR’s “blue sky state of affairs” predicts a Solana spot ETF might seize 14% of the Bitcoin ETF circulation since its January launch.
In the meantime, the SOL token is trending positively, marking a day by day surge of over 6%. Presently buying and selling at $144.77, Solana skilled a notable 9% improve over the previous week, regardless of a 13.15% dip during the last month.
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