Solana News: SOL Futures Debut on CME, Paving the Way for SOL ETFs

A significant milestone for the Solana ecosystem has been achieved with the debut of SOL futures on the Chicago Mercantile Exchange (CME). This move is expected to bring spot SOL exchange-traded funds closer to fruition, marking a crucial step in the development of Solana’s financial products.

Solana Futures Debut on CME

Solana (SOL) futures began trading on the Chicago Mercantile Exchange (CME) Group’s U.S. derivatives exchange on March 17. This move brings spot SOL exchange-traded funds closer to fruition. Chris Chung, founder of Solana swap platform Titan, and Matthew Sigel, VanEck’s head of digital assets research, acknowledged this as a major milestone for Solana and a step toward the approval of SOL ETFs. In February, CME announced plans to list two types of SOL futures contracts: standard contracts representing 500 SOL and smaller “micro” contracts covering 25 SOL each. These are the first regulated Solana futures available in the U.S. market.

Solana Price Faces 50-Day Resistance, SOL Futures Debut on CME Group

Solana’s price stagnated around the $128 mark despite multiple active bullish catalysts. The recent SOL unlocks by Alameda Research, ahead of FTX creditor repayments, have created a persistent bearish overhang since early March. The falling wedge trading pattern hints that SOL could retest the 50-day peak of $259 mark during the next rebound phase. SOL futures debuted on CME Group with $5M volume on Solana’s fifth anniversary.

Solana Marks 5-Year Journey with Impressive Milestones

Solana celebrates its 5th anniversary by highlighting its achievements over the years. Since its creation on March 16, 2020, Solana has grown to become one of the top 10 digital assets. In the last five years, it has facilitated over 408 billion SOL transactions, with more than 1,300 validators and a volume of at least $987 billion. Solana has also attained nearly $1 trillion in DEX trading.

Solana Turns 5, Solaxy Nears $27M ICO Milestone

Solana recently marked its fifth year of existence, with founders reflecting on its journey from block 0 to a blockchain now valued at over $64 billion. As the first Layer-2 chain on Solana designed to tackle the mainnet’s scaling challenges, Solaxy is preparing for its launch – coinciding with Solana’s birthday. Solaxy’s ($SOLX) total funds raised are now less than $270,000 away from reaching the $27 million milestone. If Solaxy successfully enhances Solana’s ecosystem, its current presale price of $0.001666 could represent the lowest entry point for investors eyeing what could be the dawn of a massive Layer-2 sector on Solana.