SOL Token Holds Strong at $160 Amid ETF Optimism, Institutional Growth, and Nasdaq Inclusion

Solana (SOL) is currently trading at $160.35 on Binance, reflecting a 2.97% decline over the past 24 hours from an opening price of $165.25. The recent price pullback follows a notable rally earlier in June, which was driven by strong institutional interest and optimism around the potential approval of Solana spot ETFs, as indicated by a 90% approval likelihood reported by Bloomberg ETF analysts. Additional positive sentiment came from Solana’s inclusion in the Nasdaq benchmark index for crypto ETFs and the launch of a USD-pegged stablecoin by Societe Generale on the Solana blockchain. Despite the current dip, technical indicators remain bullish, with the approach of a "golden cross" and a high Fear & Greed Index reading of 72, suggesting continued investor optimism. Trading volume remains robust at over $5.35 billion, and Solana holds a market capitalization of approximately $84.15 billion, ranking it #6 among cryptocurrencies. The short-term outlook is positive, supported by ongoing ETF developments and expanding institutional integration, despite near-term price volatility.