bullish

Solana

Notable

<p>The introduction of Bitwise’s <strong>Solana staking-focused BSOL ETP</strong> in Europe has positively impacted the price of <strong>Solana (SOL)</strong>, pushing it up by 1.74% to $217. The ETP, offering a <strong>6.48% staking reward</strong> and low management fees, has drawn significant attention from investors.</p> 
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<h2 class="wp-block-heading" id="solana-shows-strength-despite-market-correction">Solana Shows Strength Despite Market Correction</h2> 
<p>Despite a broader downtrend in the cryptocurrency market, Bitwise’s launch of its BSOL ETP has provided a bullish trigger for Solana. This development comes as SOL consolidates around the $210 level following a drop to $203 last week. Earlier on November 22, SOL had reached $263 before entering a period of sideways movement.</p> 
<p>Notable crypto analyst <strong>Crypto Jelle</strong> shared an optimistic outlook, highlighting that Solana’s chart has formed a falling wedge pattern—a bullish formation. Jelle predicts that SOL could test the $300 level by the year’s end and potentially climb to $400 if a cup-and-handle formation materializes.</p> 
<p>Current data from Coinglass shows SOL trading at $217, with open interest rising by 2.25% to $5.34 billion. These metrics underscore growing optimism among investors.</p> 
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 <img loading="lazy" decoding="async" width="1644" height="1200" src="https://www.turkishnyradio.com/wp-content/uploads/2024/12/chart-27.jpeg" alt="chart 27" class="wp-image-33385" title="Bitwise’s BSOL Launch Boosts Solana Price Amid Market Decline 45" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/12/chart-27.jpeg 1644w, https://www.turkishnyradio.com/wp-content/uploads/2024/12/chart-27-768x561.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/12/chart-27-1536x1121.jpeg 1536w" sizes="(max-width: 1644px) 100vw, 1644px">
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<h2 class="wp-block-heading" id="the-bsol-etp-a-game-changer-for-solana-staking">The BSOL ETP: A Game-Changer for Solana Staking</h2> 
<p>A key catalyst for this price movement is Bitwise’s collaboration with <strong>Marinade</strong> to launch BSOL, a Solana staking-focused ETP. This product surpasses its competitors with a <strong>6.48% staking reward</strong>, outperforming 21Shares’ 5.49% rate. Additionally, BSOL’s low annual management fee of 0.85% has made it an attractive option for European investors.</p> 
<p>The BSOL launch follows Bitwise’s recent filing for a spot Solana ETF in the U.S. While analysts believe U.S. approval may take time, other altcoins like <strong>Litecoin (LTC)</strong> or <strong>Hedera (HBAR)</strong> might secure regulatory approval first.</p> 
<h2 class="wp-block-heading" id="critical-levels-to-watch-for-solana">Critical Levels to Watch for Solana</h2> 
<p>Bitwise’s latest move has placed Solana back in the spotlight. Breaking through key resistance levels at $244 and $265 will be crucial for SOL to reach the $300 mark. The combination of staking rewards and competitive management fees offered by BSOL presents a compelling opportunity for Solana investors.</p> 
<p>Stay updated with the latest cryptocurrency developments on <strong><a href="https://www.turkishnyradio.com/" target="_blank" data-type="link" data-id="https://www.turkishnyradio.com/" rel="noreferrer noopener nofollow sponsored">Turkish NY Radio</a></strong>.</p>

Bitwise’s BSOL Launch Boosts Solana Price Amid Market Decline

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