SOL Token Surges 3.47% as Staking ETF Debuts, $12.3M Shorts Liquidated, and Treasury Buys In

SOLUSDT has experienced a 3.47% price increase over the past 24 hours, rising from 146.36 to 151.44. This upward movement can be attributed to several factors: significant liquidations of $12.3 million in Solana futures, mainly impacting short positions, which likely contributed to upward price pressure; a treasury acquisition of 17,760 SOL, signaling institutional interest and confidence; and the launch of a U.S.-based Solana staking ETF (SSK), which reached $8 million in trading volume within its first 20 minutes and offers staking yields around 7.3%, indicating strong demand and positive sentiment. Additionally, the recent network update aimed at improving performance and addressing congestion has supported market confidence in Solana’s long-term prospects. Overall, the current price movement reflects a combination of positive institutional activity, product innovation, and technical improvements within the Solana ecosystem.