Solana futures (SOL) on the Chicago Mercantile Exchange (CME) were launched on March 17 with a trading volume of $12.1 million on the first day, falling short compared to Bitcoin (BTC) and Ethereum\u2019s (ETH) CME futures debut. Vetle Lunde, Head of Research at K33Research, compared the performance of Bitcoin, Ether, and Solana CME futures on their launch day, indicating that Solana’s volume and open interest were below its competitors. Despite the lower volume, when normalized to market cap, Solana’s launch aligns closer to Bitcoin and Ethereum. During the current bull market, spot ETF approvals and CME futures launches have positively impacted investor sentiment. Normalized volume measures trading activity relative to a crypto asset\u2019s market cap, offering a fair evaluation across different cryptocurrencies. Bitcoin had the highest normalized volume at 0.0319%, followed by ETH at 0.0173%, and SOL at 0.0166%. The similarity between ETH\u2019s and SOL\u2019s normalized volumes suggests that Solana’s trading activity scale is comparable to Ethereum’s. The future performance of SOL’s CME futures remains uncertain, with the absence of significant price movement after its launch indicating a lack of investor excitement. However, the presence of SOL in the CME could enhance liquidity and price discovery, attracting institutional engagement and potentially unfolding wider impacts over time. It is essential to note that this article does not provide investment advice, and readers should conduct their research before making any decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Solana futures (SOL) on the Chicago Mercantile Exchange (CME) were launched on March 17 with a trading volume of $12.1 million on the first day, falling short compared to Bitcoin (BTC) and Ethereum\u2019s (ETH) CME futures debut. Vetle Lunde, Head of Research at K33Research, compared the performance of Bitcoin, Ether, and Solana CME futures on […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/67396"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=67396"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/67396\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=67396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=67396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=67396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}