SOL Token Surges 7.25% Amid Spot ETF Buzz, $7.89B Volume, and Record On-Chain Activity

Solana (SOLUSDT) has experienced a notable price increase of 7.25% over the past 24 hours, currently trading at $173.48 on Binance. This upward movement is primarily attributed to heightened market optimism driven by anticipation of a Solana spot ETF, significant growth in tokenized real-world assets on the Solana blockchain, and strong on-chain activity, including over 45 million transactions processed in the past week. Additional bullish sentiment stems from institutional developments such as Upexi's substantial SOL holdings and the announcement of a forthcoming Solana staking ETF by REX Shares. The broader crypto market has seen elevated volatility, with nearly $500 million in leveraged positions liquidated, predominantly affecting long positions. Solana maintains robust trading volume, with approximately $7.89 billion traded in the last 24 hours, and a circulating supply of about 536.25 million SOL, reinforcing its position as a leading cryptocurrency by market capitalization.