SOL Surges 5% as Solaxy Presale and ETF Progress Spark Institutional and Retail Momentum

Solana (SOL) experienced a notable price increase of 5.23% over the past 24 hours, rising from a 24h open of $144.69 to $152.26 on Binance. This upward movement is primarily attributed to heightened investor interest following the successful presale of the Solana Layer 2 meme coin Solaxy, which raised over $51 million and introduced new cross-chain utility and partnerships, as well as growing institutional attention linked to the advancement of seven Solana ETFs and treasury accumulation by entities like DeFi Development Corp. Despite a recent RSI reading near 38 indicating previous oversold conditions, the market has responded positively to these developments, supporting both trading volume and price stability.

Currently, SOL is trading at $152.26 with robust 24-hour trading volume and a market capitalization near $77 billion, maintaining its position as the sixth-largest cryptocurrency. The price has moved within the $144–$149 range in recent days before the latest surge, while technical sentiment remains mixed, with a bearish outlook but persistent trader optimism as reflected in the Fear & Greed Index. Overall, Solana’s market activity remains strong, buoyed by ecosystem innovation and institutional engagement.