SOL Surges 2.6% as Layer-2 Launch and Wallet Growth Drive Renewed Market Momentum

Solana (SOL) is currently trading at $161.08 on Binance, up 2.60% over the past 24 hours, with a 24-hour trading volume of approximately $3.02–$3.13 billion and a market capitalization between $81.8 and $82.7 billion. The circulating supply stands at about 522.4 million SOL out of a total supply of 602.1 million.

The recent price increase follows a period of volatility where SOL faced pressure from SEC scrutiny related to planned ETFs and broader market concerns, leading to a decline in May. Over the last 24 hours, renewed buying interest has pushed the price above key resistance levels, despite ongoing daily token unlocks exceeding $1 million and technical challenges near the $160–$165 range. The market remains cautious, with traders closely watching the $150 support zone, while ecosystem developments such as the launch of Solana’s first Layer-2 solution and continued growth in new wallet addresses support underlying demand.