The likelihood of a Solana exchange-traded fund (ETF) being listed in the United States this year has reached new heights, with Matthew Sigel, head of digital assets research at VanEck, predicting even better odds than the popular forecast. As of January 1, Polymarket, a cryptocurrency prediction platform, estimated the odds of a Solana ETF listing at 77%. Sigel, however, described this forecast as “underpriced” and believes the actual chances are even higher.
This optimism is in line with broader industry expectations for more cryptocurrency ETFs to be approved in the U.S., especially following President-elect Donald Trump’s pro-crypto stance. In November 2024, Trump expressed intentions to make America the “world’s crypto capital,” further fueling market optimism. By January 2, Polymarket’s forecast had risen to 84%, indicating growing confidence in a Solana ETF launch this year.
Terraform Labs Founder Do Kwon Pleads Not Guilty
Do Kwon, the co-founder of Terraform Labs, appeared before a U.S. magistrate judge on January 2, 2025, in his first legal hearing since his extradition from Montenegro. Kwon pleaded not guilty to multiple charges, including securities fraud, wire fraud, money laundering, and commodities fraud related to the collapse of the Terra ecosystem.
During the hearing, Kwon agreed to be held without bail, and a status conference is scheduled for January 8, 2025. This legal proceeding marks a pivotal moment in a case that has drawn significant attention since Kwon’s controversial actions led to a massive loss in value for the TerraUSD stablecoin and its associated assets. The trial will further explore the events surrounding the ecosystem’s failure and its impact on the broader crypto industry.
Memecoins Face Competition from AI Agent Coins
Memecoins, once the dominant force in the crypto market, are losing ground to AI agent tokens, according to Dragonfly Capital managing partner Haseeb Qureshi. In a January 1 post on X, Qureshi predicted that the momentum of AI agent coins will continue throughout 2025. These tokens, associated with advanced AI applications, have been gaining traction for their ability to offer crypto users insights and market predictions.
Qureshi noted that while AI agent tokens are currently experiencing a surge, their popularity may begin to fade by 2026 as new AI developments emerge, shifting focus away from social media chatbots. Over the past 24 hours, memecoin trading volume saw a notable 21.5% decrease, while AI-related tokens saw a 7.95% rise in trading volume, according to CoinMarketCap data.
Key Highlights:
- Solana ETF odds in the U.S. rise to 77%, with further optimism for 2025.
- Do Kwon pleads not guilty to multiple fraud charges in U.S. court.
- Memecoins face increasing competition from AI agent tokens in 2025.
