SOL Surges 4.7% as Network Activity Hits Record Highs and Staking ETF Optimism Grows

Solana (SOL) is trading at $161.08 on Binance, up 4.71% over the last 24 hours with strong trading volume and renewed bullish momentum. The recent price increase is attributed to a combination of heightened network activity, record daily active addresses, and robust transaction throughput, despite a large transfer of 2.87 million SOL to Binance and a decrease in open interest from $3.2 billion to $2.87 billion. No new protocol updates or partnerships have been reported, but optimism about potential Solana staking ETF approvals and significant capital raised by Solaxy (a Solana-based Layer-2 solution) have contributed to positive sentiment. Technical factors, including a successful breakout above key resistance levels and accumulation during recent pullbacks, have further supported SOL’s upward movement.