Ethereum ETFs are slated to begin trading in mid-July, according to the latest reports, and analysts are predicting that Solciety, one of the biggest crypto presales of 2024, will sell out early as a result.
Bitcoin ETFs were approved back in January and are widely believed to have been a crucial stepping stone for mainstream crypto adoption, opening the door for Ethereum to finally receive large-scale institutional investment.
In the same way, Ethereum ETFs could pave the way for Solana ETFs, which saw applications submitted last month – meaning the home of meme coins could be set to see unprecedented capital inflows if the SEC gives its approval.
Ethereum ETFs: Memes go mainstream
Ether ETFs hitting markets mark a landslide victory for crypto adoption, showing that the slightly more obscure and arguably more useful world of smart contracts is proving popular with the wider market.
With a large proportion of altcoins built on Ethereum, ETF approval will likely be a huge boon for the altcoin market, including meme coins like Solciety, given their newly won social proof and credibility, with some analysts predicting a 10x surge practically overnight.
And with Solana ETF applications being submitted by VanEck and 21Shares at the end of June, the door appears wide open for the ascendant “ETH killer” blockchain to follow suit. This would lend huge legitimacy to Solana-based coins like viral presale project Solciety and could be a key driver of its success: the presale has already raised over
$673k in just a few weeks.
Tailwinds abound for Solciety
Beyond SOL ETFs, which would undoubtedly boost top Solana projects such as Solciety, 2024’s hottest presale has plenty more momentum behind it, and the ICO could sell out in record time as a result.
Politics seems to be the driving force here. The outcome of the US election will likely be a key factor in SOL ETF approval, with Donald Trump branding himself the “crypto president” and predictions markets indicating that he would approve the two applications if elected in November.
But the US election, and indeed, elections around the world this year, could have a more direct impact on Solciety’s price. Solciety is part of the PolitiFi sector – coins that are tied to political figures, such as the Trump-linked MAGA and TRUMP – which has risen to a market cap of nearly $1 billion in less than a year since its inception.
Many coins have reacted powerfully to political news, leading to impressive rallies of 100x or more, and Solciety is ready to do very much the same. When its presale ends and the SLCTY token begins publicly trading, political action could send it into orbit, as has been the case with many other PolitiFi tokens, from MAGA to Doland Tremp. Plus, the later addition of Solana ETF approvals could truly help Solciety become a top meme-coin contender.
The Solciety presale has already raised over $673k and shows no signs of slowing down. If you want to profit from the chaos that is this election season and simultaneously bet on the likelihood of Solana ETFs being approved, act now: SLCTY is currently priced at $0.002222, but that figure will be increasing very soon.
Find out more about the Solciety presale on the official website.
Read More: Why Ethereum ETFs Could Drive the Solciety Presale to Sell Out Early