Buy These Solana Coins after Solana ETF approval in Canada

3iQ Digital Asset Management has launched a groundbreaking venture by filing for North America’s first Solana-based exchange-traded product (ETP). This marks a significant development in the range of cryptocurrency investment options.

The proposed fund, excluding offerings in Québec, will distribute Class A and Class F units, aiming to mirror Solana’s daily price fluctuations measured in U.S. dollars. Moreover, it seeks to capitalize on long-term growth opportunities and leverage the Solana network’s staking yield potential.

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3iQ Corp. is pleased to announce that we have submitted a preliminary prospectus for The Solana Fund (QSOL) in Canada in relation to an initial public offering.

This continues our track record of innovation, and if receipt of applicable regulatory approvals is obtained, the… pic.twitter.com/7ghv05f8gU

— 3iQ Digital Asset Management (@3iq_corp) June 20, 2024

3iQ, renowned for its expertise in digital asset management, will oversee the fund’s operations. Additionally, Canaccord Genuity has been appointed as the agent for this offering. Tetra Trust and Coinbase Custody Trust Company, LLC will act as custodians, ensuring secure and efficient custody of assets. This includes leveraging Coinbase Custody’s advanced institutional staking infrastructure and facilitating SOL staking within the fund.

Let us look at some of Solana’s ecosystem coins that are poised for growth after this move;

Dogwifhat (WIF)

Despite recent market setbacks, Dogwifhat, a popular meme coin within the Solana ecosystem, maintains a strong market presence with a current trading value of $1.79. The coin has seen significant fluctuations, evidenced by a trading volume of $410 million in the past 24 hours. This resilience comes amidst a broader downtrend among meme coins, where Dogwifhat has experienced a 37% decline over the past month, including a 26% dip this week alone.

Historically, Dogwifhat has demonstrated remarkable growth, soaring by more than 900% since its launch. This trend underscores its status as a potentially lucrative meme coin investment, with analysts predicting possibilities of a tenfold increase in value. The recent submission of a Solana ETF proposal adds a layer of optimism, suggesting potential for further upward trajectories for WIF despite the market’s general volatility.

Henrik Zeberg has observed an optimistic forecast for dogwifhat (WIF/USDT), predicting potential returns ranging from 23 to 28 times its current valuation. This analysis arrives amid widespread market uncertainty, offering a rare note of optimism for potential investors.

Zeberg’s technical scrutiny employs Fibonacci retracement tools to discern potential support and resistance zones that might influence future price trajectories. He pinpoints a critical support level at the 0.618 Fibonacci mark, currently standing at $15.20, with an ultimate target of around $54.9, suggesting substantial room for upward movement.

#JASMYFather has become #WIFGodFather 🙏😇

Beautiful structure and now with bottoming signs – while #Fintwit is in despair 😉🚀#DogWIFhat may even outperform JASMY by 3-6X 💪 pic.twitter.com/r2qcoIf1xB

— Henrik Zeberg (@HenrikZeberg) June 19, 2024

Furthermore, the analyst refers to historical data where dogwifhat previously secured a similar surge, approximately 23-fold, reinforcing the credibility of his current predictions. He emphasizes the importance of the positions marked as A, B, and C on his chart, with a special focus on Point B, which could indicate a foundational bottom poised for an imminent bullish trend.

Bonk (BONK)

Bonk, a meme coin operating on the Solana blockchain, has made notable strides in cryptocurrency. With Solana’s rapid transaction capabilities and low cost, Bonk is gaining traction among both veteran and novice crypto enthusiasts. The platform emphasizes a fun and interactive experience supported by a vibrant community and popular memes.

Since its inception, Bonk has demonstrated significant market growth. Its current price stands at $0.00002027, reflecting a robust rise in its valuation. This surge has elevated Bonk’s market capitalization to an impressive $1.37 billion, underscoring growing investor confidence within the meme coin sector of Solana.

Recently, Bitstamp broadened its trading options by introducing Bonk trading pairs. This addition is accessible through both iOS and Android applications, enhancing the platform’s versatility.

Woof woof! $BONK is live on Bitstamp! 🐕 💥

Unleash the fun side of crypto and check out this popular #memecoin from @solana today.

Start trading: https://t.co/YpBdrdoOO4@bonk_inu pic.twitter.com/0dfsKNoqvc

— Bitstamp (@Bitstamp) June 20, 2024

Initially emerging during the 2023 meme coin surge, Bonk has evolved from a simple dog-themed token to incorporate significant DeFi elements. It now interfaces with cross-messaging services and NFT platforms, positioning it as a multifunctional asset in diverse crypto ecosystems. Consequently, Bitstamp’s strategic expansion and the upcoming launch of Solana ETF position BONK to climb to new heights soon. 

Jupiter (JUP)

Jupiter (JUP) trades between $0.83 and $1.02, with resistance at $1.12 and support at $0.73. Over the past week, it fell by 11% and 36% over the month. However, it surged 2800% in the last six months.

Jupiter Exchange has recently introduced a significant proposal to burn 30% of its native token, JUP, which is anticipated to enhance the token’s scarcity and potentially elevate its market value. This strategic move was thoroughly detailed in their latest video presentation, “The Future of JUP,” which covered the exchange’s past achievements and laid out the future trajectory for the token.

In this crucial planetary call, we covered the past, present and future of JUP, including the proposal for supply reduction and future jupuaries and ASR.

Here are the timestamps for the key topics covered – enjoy!

——-

04:04 – The Future of JUP
05:45 – Key Ideas Behind $JUP… https://t.co/OqbjsRkfar

— Jupiter 🪐 (@JupiterExchange) June 19, 2024

During the presentation, specific moments, like the segment at 28:23, provided a deep dive into the mechanics behind the proposed token supply reduction. Here, the potential impacts of creating a scarcer token were discussed, indicating a positive forecast for the token’s value. The dialogue at 42:57 introduced the “Community Eats First (CEF)” principle. It emphasizes the project’s commitment to putting community benefits at the forefront of strategic decisions.

Jupiter is actively working to reduce the supply of JUP tokens. This strategy highlights the token’s increased utility and value in the cryptocurrency market. This strategic pivot is poised to fortify Jupiter’s standing in the market and potentially drive investor interest amidst the upcoming Solana ETF approval.

Book of Meme (BOME)

Launched in March 2024, the Book of Meme immediately captured the attention of the cryptocurrency community, particularly those amused by meme-inspired assets. Positioned within the robust Solana ecosystem, BOME benefited from its advanced blockchain capabilities, quickly gaining traction among investors.

The coin’s design as a comprehensive memes library that facilitates the creation and long-term storage of digital memes on the blockchain was particularly appealing. This utility contributed to a swift ascent in its market price, reaching an all-time high (ATH) of $0.028 shortly after its debut. However, the initial excitement was tempered as the token’s value adjusted, eventually finding stability around $0.01.

Recent market fluctuations have slightly depressed its trading price to $0.008688. Despite this dip, BOME still trades significantly higher, 940% above its all-time low of $0.000858. The resilience displayed suggests a potential for long-term holding.

Coinbase International Exchange and Coinbase Advanced have recently expanded their offerings. They have made BOME-PERP available for full trading as we enter the Solana ETF era. Customers now access a wider range of order types, such as limit, market, stop, and stop limit orders. This expansion enhances their trading strategies and market engagement.

Our BOME-PERP and NOT-PERP markets are now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. $BOME $NOT pic.twitter.com/3D88XfNiJi

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) June 20, 2024

Coinbase is including new order types to offer users more flexibility. This allows traders to tailor their activities according to market conditions and personal preferences. Moreover, this update is significant as it allows traders to execute transactions more efficiently, potentially increasing the BOME-PERP market’s liquidity and dynamism.

Introducing these new trading options on Coinbase aligns with the platform’s strategic goals. It aims to broaden its services and solidify its position as a leading cryptocurrency exchange. This move is expected to attract a larger segment of the trading community, which is looking for platforms that offer robust trading solutions.

Myro (MYRO)

Originating from an endearing backstory linked to the pet of Solana’s founder, Myro has emerged as a standout in the meme coin sector. The cryptocurrency witnessed a meteoric 1500% surge in value during the meme coin boom in January 2024. This remarkable rise was fueled by a highly effective online campaign and the community’s growing fondness for Myro’s unique symbol.

Currently priced at $0.137, Myro enjoys a robust daily trading volume of $24 million. Despite experiencing a recent 1% decrease, the coin’s market capitalization holds strong at $129 million, ranking it 304th on CoinMarketCap. Over the past month, Myro’s value has decreased by over 39%, with an astronomical yearly growth of 5700%.

MYRO has displayed a pattern reminiscent of its behavior in February before experiencing a significant rise in March. MYRO’s current trajectory aligns with critical Fibonacci retracement levels, suggesting a pivotal moment for potential investors.

Crypto analyst CryptoKupe highlights that MYRO is nearing the 0.786 Fibonacci level and approaching a crucial support line, marked by its recent orange trend line on trading charts. This scenario is a strategic opportunity, indicating that current market conditions favor acquiring or holding MYRO rather than selling. The strategy focuses on a calculated approach, emphasizing the benefits of patience. Those who maintain their positions could see beneficial outcomes from the approval of the Solana ETFs.

$MYRO looks like it did in February before the massive March run up.

It’s possible to test the .786 fib and orange trend line but now is the time to hold or buy, not sell. The calm and strong willed shall prosper. @MyroSOL pic.twitter.com/9DABOAKfcK

— CryptoKupe (@cryptokupe) June 17, 2024

3iQ Digital Asset Management has filed the first Solana-based ETP, marking a significant evolution in crypto investment landscapes. This development is particularly notable within the Solana ecosystem. This strategic initiative could spur growth across various meme coins such as Dogwifhat, Bonk, Jupiter, Book of Meme, and Myro. It promises to enhance market dynamics and potentially attract higher investment inflows.

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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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