SOL Token Jumps 5.36% as ETF Applications, U.S. Legislation, and Soft Staking Drive Surge

Solana (SOLUSDT) has experienced a notable price increase over the past 24 hours, rising 5.36% to $199.15 on Binance. This upward movement is primarily attributed to several positive developments: Solana's price surge above $200, increased institutional interest highlighted by seven spot ETF applications, and the passage of pro-crypto legislation in the U.S. Additionally, Binance's recent launch of Soft Staking for SOL, allowing users to earn rewards without locking their assets, has contributed to heightened investor engagement.

Currently, SOLUSDT is trading at $199.15 with a 24-hour open of $189.02 and significant trading volume, reflecting strong market activity and sustained investor interest. Solana's market capitalization remains robust, estimated between $106 billion and $109 billion, with a circulating supply of approximately 538–540 million SOL tokens.