Solana CME futures volumes reach $12.1M: Was the launch a dud, or is more to come? 📈
Solana futures on the Chicago Mercantile Exchange (CME) launched with a $12.1 million trading volume on day one, lower than Bitcoin and Ethereum’s debuts. Vetle Lunde from K33Research noted that when adjusted for market cap, Solana's volume aligns closer to the others.
Normalized volume comparisons showed Bitcoin leading with 0.0319%, while Ethereum and Solana followed with 0.0173% and 0.0166% respectively. This implies similar trading activity for ETH and SOL despite a $20 million difference in volumes.
While Bitcoin's CME debut heralded a bear market, Ethereum rallied 150% post-debut. Despite muted enthusiasm, Solana's presence on CME may boost its liquidity and institutional interest long-term.
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