Solana SOL/USD defied the standstill in other large-cap cryptocurrencies on Wednesday following the impressive launch of its exchange-traded fund in Canada.
What happened: The sixth-largest digital asset by market capitalization spiked nearly 3% in the last 24 hours, outgaining higher-valued coins such as Bitcoin BTC/USD, Ethereum ETH/USD, and XRP XRP/USD.
Solana’s trading volume soared 32.76% to $4.37 billion, making it the fifth-most transacted cryptocurrency in the last 24 hours.
Speculative interest in the coin has also increased, with more than half of Binance traders with an open contract betting on SOL’s price increase, according to Coinglass.
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Why It Matters: The positive sentiment followed the debut of the 3iQ Solana Staking ETF on the Toronto Stock Exchange, the…
