SOL Token Jumps 4.3% as Binance Launches Soft Staking and ETF Buzz Fuels Demand

Solana (SOLUSDT) has experienced a 4.30% price increase over the past 24 hours, rising from an open of 151.18 to 157.68 on Binance. This upward movement is likely influenced by Binance’s recent launch of Soft Staking for SOL, enabling users to earn daily rewards without lock-up during its 8th anniversary event, which has increased user engagement and demand. Additionally, ongoing attention from the U.S. SEC regarding spot Solana ETF applications may be contributing to positive sentiment. Despite mixed technical signals in recent market analysis, including both bullish momentum above key support levels and some bearish indicators, the overall market remains highly active, with a 24-hour trading volume between $4.76 billion and $5.37 billion and a market cap around $84.3 billion. Solana remains the #6 cryptocurrency by market capitalization, with strong liquidity and notable trading activity on major exchanges.