Will Solana rise? CME to launch future contracts with high institutional interest – TradingView news
The increasing demand for investment tools in the CHE CEO has pushed the CME group to submit future contracts (SOL). Pending regulatory approval, these new contracts will be launched on March 17 and aim to provide institutional and retail investor investors and a effective means of hedging and hedging against Solana price movements.
This addition indicates more institutional adoption of Solana, which puts it alongside Bitcoin and Ethereum in the CME Derivatives Market expanding in CME.
Data from CoinMarketCAP shows that Solana (SOL) is in an upward direction despite the general decline in the digital currency area. Altcoin is trading $ 145, which represents an increase of 5 % last day despite a 18 % decrease in the weekly graph.
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A new tool for institutional investors and retail trade
According to its announcement, CME Group will offer two Sol contracts in the future: a small contract in 25 Sol and a larger nodes in 500 Sol. It is said that these future contracts will be expanded and based on the price of CME CF Solana-Dollar, which provides a daily price for the US dollar for Sol.
Solana Futures will join the CME’s Crypto Products range, which includes Bitcoin, Eter Futures and options. According to the group, the demand for these products is clear, as trading data shows a year to the average daily volume of 202,000 contracts, which represents an increase of 73 % on an annual basis. The average open interest is 243,600 contracts, an increase of 55 % on an annual basis.
The launch of the futures contracts comes at a time of the increasing activity in the market. Solana’s price recently decreased to less than $ 140 due to the correction of the broader encryption market, heavy whale sales, and an expected symbolic opening event could be issued 11.2 million Sol on March 1.
Solusd, Source: Tradingview
Mobility in market fluctuations in Solana
The broader encryption also played a role, exceeding Bitcoin with a little $ 82,000 and more than $ 1.5 billion in the rank that occurs within 24 hours. The relative strength index in Solana (RSI) is currently around the extra sales area, indicating that the digital origin may be due to the bounce.
The Sol Futures input reflects the constant voltage of CME Group to expand investment options for encryption for both institutions and active traders. According to the group, the launch of the Solana Futures can represent a turning point for the adoption of the institutional asset, which increases its inclusion in the prevailing financial scene.
Whether this translates into price stability or increased fluctuations still must be seen, but there is one certain thing: Solana’s role in the ecosystem of encryption can be in the direction of ascension.
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