SOL Surges 3.27% as ETF Progress, Institutional Adoption, and Technical Breakout Drive Momentum

Solana (SOL) is currently trading at $164.69 on Binance, reflecting a 3.27% increase over the past 24 hours with a 24-hour open of $159.47. The recent price rebound is primarily attributed to positive developments surrounding potential spot ETF approvals, including the SEC’s request for ETF issuers to file S-1 forms by mid-June 2025 and ProShares updating its ETF application deadline to June 25, 2025, which have increased market optimism. Additional momentum has come from institutional adoption, notably Société Générale’s announcement of a USD-pegged stablecoin (USDCV) launching on the Solana blockchain, and Siebert Financial Corp.’s SEC approval for a $100 million shelf registration that may include digital assets such as Solana. Technical indicators show SOL has broken out from a falling wedge pattern and is testing resistance in the $158–$161 range, with the price supported by strong demand in the $144–$152 zone. Overall, the combination of regulatory progress, institutional interest, and favorable technical signals has contributed to SOL’s recent upward movement and increased trading activity.