Solana price slid to 7-day low of $162 on Friday, May 24 as altcoin markets shuffled to the Ethereum ETF approval by US SEC. With Solana node validators un-staking large amounts of coins this week, how will recent market events impact SOL price?

Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $165.51 (up 0.022%), $7.45 (up 0.44%), $0.000022 (down 0.88%), and $0.77 (down 0.77%), respectively. On the basis of the weekly chart, Solana has slipped 6.92% while Polka Dot has moved up by 5.61%. Shiba Inu is up 0.99% in the last seven days whereas Polygon has gained 3.11%.

Ether spot ETF approval would set a precedent as the first non-bitcoin digital asset to be considered a commodity, raising expectations that solana could follow the same path, the report said.

The approval of spot Ether ( ETH-USD) ETFs in the U.S. has given the crypto market a major boost and could be a big step forward in crypto regulation. Analysts from brokerage firm Bernstein think Solana ( SOL-USD) ETFs might be next.

The broader cryptocurrency market has risen today due to speculation over the likely approval of the Spot Ethereum ETF by the US SEC. However, amid the euphoria, Matrixport co-founder Daniel Yans recent comments