Solana is splashing headlines in the crypto community again, but this time it has nothing to do with its price. The news today came that a leading financial institution is set to release futures contracts against this fast-blockchain’s natively issued token, with the trading to go live as soon as March 17, subject to regulators granting their approval. This update represents a huge leap forward for Solana as it places itself squarely in the running as far as institutional investors are concerned.
Even with this positive news, Solana’s price suffered today, falling 3.53% to settle around $123.35. The decline indicates overall market stress, but the futures news has the potential to change things around. Futures contracts enable traders to bet on price action without taking possession of the asset, potentially increasing liquidity and firming up Solana’s market footprint. For crypto enthusiasts, this is a testament that altcoins are gaining mainstream traction outside of the Bitcoin-Ethereum duopoly. Will this send Solana soaring, or is it too early to say? The next few weeks will be decisive as the market processes this paradigm-shifting update
