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Solana made headlines with the debut of its CME futures contracts, marking a significant step toward institutional adoption. However, unlike the massive market reactions seen during Bitcoin and Ethereum’s CME futures launches, Solana’s debut failed to generate the same level of traction in the crypto market.
Solana’s CME Futures Opening Disappoints in Contrast to Bitcoin and Ethereum
Solana futures debuted on the Chicago Mercantile Exchange (CME) on Monday, but the launch was met with little excitement. Solana’s CME futures recorded a modest $12.1 million first-day trading volume and $7.5 million open interest. Unlike the Bitcoin and Ethereum CME futures launches in previous years, Solana’s market entry fell short.
Bitcoin CME futures launched in December 2017 with a staggering $102 million in first-day trading volume and $21 million in open interest, while Ethereum CME futures, which debuted in February 2021, recorded $31 million in trading volume and $20 million in open interest on their first day.
While Solana’s raw trading volumes suggest a weak launch in comparison with Bitcoin and Ethereum, K33 research analyst Vetle Lunde argues that normalizing these figures based on market cap presents a different picture. At its launch, Solana’s (SOL) market cap stood at approximately $65 billion, significantly lower than Ethereum’s (ETH) $200 billion and Bitcoin’s (BTC) $318 billion during their respective CME futures debuts.
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The AI coin market is projected to surge to $66 billion by 2025, signaling strong investor demand for AI-driven projects. FloppyPepe’s (FPPE) use of advanced AI tools positions it as a major contender in the billion-dollar AI coin market set to boom further this year.
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Don’t Miss Out: FloppyPepe (FPPE) Presale Is The Next Big Investment Opportunity
While Solana, Bitcoin, and Ethereum’s CME futures are in the spotlight, crypto expert NASS CRYPTO shared that the ongoing FloppyPepe (FPPE) presale is the next big investment opportunity in the current crypto market, contributing to its bullish narrative.
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Join the FloppyPepe (FPPE) presale and community:
Website: https://floppypepe.io/
Whitepaper: https://floppypepe.gitbook.io/floppypepe.io
Telegram: https://t.me/floppypepeofficial
X (Twitter): https://x.com/floppypepe