SOL Token Surges 6% as ETF Nears $100M, DeFi TVL Hits $9.9B, and Short Liquidations Spike

Solana (SOLUSDT) has experienced a notable price increase of 6.04% over the past 24 hours, with the current price at $191.29 on Binance. This upward movement is primarily attributed to renewed institutional interest, highlighted by the REX-Osprey SOL + Staking ETF nearing $100 million in assets and the launch of LsSOL, a liquid staking token, which has driven demand for Solana-based products. Additional contributing factors include a surge in DeFi activity, with Solana’s Total Value Locked reaching a record $9.9 billion, and a technical breakout above key resistance levels, which triggered significant short liquidations totaling $34.59 million.

In the last 24 hours, Solana’s trading volume reached approximately $17.48 billion, and its market capitalization stands at $102.64 billion, reflecting strong market participation and sustained bullish sentiment.