SOL Token Surges 4.42% as ETF Hopes, Record Stablecoin Supply, and Whale Activity Drive $5.7B Volume

Solana (SOL) has risen 4.42% over the past 24 hours, currently trading at $165.94 on Binance, with a 24-hour open of $158.91. This price increase is primarily attributed to heightened anticipation around potential U.S. spot Solana ETF approvals, following Nasdaq’s SEC filing to expand a crypto index ETF benchmark to include SOL, and increased institutional interest highlighted by meetings with major global banks. Additional momentum comes from a surge in stablecoin activity on the Solana blockchain, with stablecoin supply reaching an all-time high and DeFi ecosystem growth. Trading volume has spiked to $5.7 billion, up over 54%, reflecting renewed investor activity and optimism. Technical breakouts above key resistance levels and large-scale whale movements have further supported the bullish trend, although analysts are monitoring liquidity conditions and sustainability of the rally. Overall, Solana’s recent performance is driven by regulatory optimism, ecosystem expansion, and strong market participation.