Solana Surprise Could Lift This ETF’s Fortunes

In all the commotion about the possibility that bitcoin is back, don’t lose sight of the fact that solana is getting in on the act, too. The eighth-largest cryptocurrency by market capitalization surged more than 40% in August. That indicates that, for investors that prefer accessing digital currencies via the ETF wrapper, it’s a good time to look at the unheralded QSOL). For those that aren’t familiar with solana, there’s much more to this digital currency than just being one of the havens for meme coin trading.

Unlike, say, bitcoin or zcash, solana supply isn’t capped. However, investors considering QSOL should note that a recent vote will cut the amount of new supply coming to market. That could support prices for both solana itself and the Invesco fund.

“The network’s governance body approved SGP-0002, a proposal that doubles the annual disinflation rate from 15% to 30%, meaning the amount of new SOL entering circulation will shrink twice as fast as originally planned,” reported Crypto Briefing. “The move pulls forward Solana’s target for hitting its 1.5% terminal inflation floor from roughly 2032 to 2029, three years ahead of schedule.”

Solana currently resides at just over $100, meaning it’d need to nearly double to reach $200. Obviously, such a move would benefit QSOL investors. It’s certainly a reach to get to $200 over the near-term, but patient QSOL holders should employ some tempered optimism, because some experts believe there is a solid bull case for this digital currency.