SOL Surges 2.58% as Upexi Invests $7.8M and ETF Speculation Boosts Institutional Demand

Solana (SOL) is currently trading at $142.64 on Binance, reflecting a 2.58% increase over the last 24 hours from a 24h open of $139.05. The recent price uptick is primarily attributed to renewed institutional interest, highlighted by Upexi’s $7.8 million purchase of SOL, and growing speculation around potential spot Solana ETF approvals in the U.S., which have increased bullish sentiment despite recent overall market volatility. Additional drivers include rising decentralized exchange (DEX) volumes and continued adoption of the Solana blockchain for DeFi applications. Over the past week and month, SOL has experienced declines of approximately 4% and 18.5% respectively, but strong trading volume of $3.51 billion and a market cap of $76.31 billion indicate sustained high liquidity and market engagement. Staking rewards for SOL are also available on Binance Earn, offering users opportunities for passive income.