SOL Token Surges 3.58% as ETF Buzz, DeFi Growth, and Institutional Moves Drive $5.3B Volume

Solana (SOLUSDT) has seen a 3.58% price increase over the past 24 hours, currently trading at $157.28 on Binance. This upward movement is primarily attributed to heightened investor interest following ongoing discussions about a potential spot Solana ETF, with analysts expressing optimism regarding regulatory approval and the recent launch of the REX-Osprey Solana + Staking ETF. Additional contributing factors include Solana’s strong performance in the memecoin sector, significant DeFi activity, and announcements such as Societe Generale-FORGE’s upcoming stablecoin launch on Solana and notable institutional purchases.

In the last 24 hours, Solana’s trading volume exceeded $5.3 billion, reflecting a 17% increase and signaling robust market participation. The asset’s market capitalization stands around $84.4 billion, ranking it as the sixth largest cryptocurrency, with price fluctuations between $150.11 and $157.48 during the period.