SOL Surges 2.97% as Upexi Buys $7.8M, ETF Hopes and DEX Volumes Fuel Momentum

Solana (SOL) is trading at $141.89 on Binance, up 2.97% from the 24h open of $137.80, with strong trading volume and a market cap near $76.3 billion. The recent price increase is primarily attributed to renewed institutional interest, highlighted by Upexi’s $7.8 million SOL purchase and plans to tokenize company shares, as well as ongoing spot SOL ETF applications and rising decentralized exchange volumes. Despite a vulnerability disclosure and deactivation of the ZK ElGamal Proof program for Token-2022 confidential tokens, no user funds were affected, and standard SPL tokens remain unaffected, minimizing negative impact on market sentiment. Over the past month, SOL has experienced a broader decline, but current activity and bullish institutional moves are supporting short-term upward momentum.