SOL Token Climbs 2% as Solana Staking ETF Launch Drives $4.5B in Trading Volume

Solana (SOLUSDT) is trading at $151.57 on Binance, reflecting a 2.04% increase over the past 24 hours. The recent price uptick is primarily attributed to heightened market interest following the launch of the Solana staking ETF, which has generated strong trading volumes and positive sentiment. Additionally, anticipation around potential spot Solana ETF approvals, despite the SEC postponing a decision on Fidelity's application, has contributed to bullish momentum. Increased network activity and corporate acquisitions, such as MemeStrategy's purchase of SOL tokens, have also supported demand. Over the last 24 hours, SOL's trading volume ranged from $3.99 billion to $4.51 billion, with a circulating supply near 540 million and a market capitalization of approximately $81 billion, maintaining its position as the 6th largest cryptocurrency by market cap.