SOL Token Rises 2.4% as U.S. ETF Hopes and Institutional Inflows Drive Market Momentum

Solana (SOLUSDT) has experienced a 2.40% price increase over the past 24 hours, rising from a 24h open of $154.76 to a current price of $158.47 on Binance. This upward movement is primarily attributed to heightened optimism surrounding potential approval of spot Solana ETFs in the U.S., with several major asset managers recently filing applications and the SEC reportedly expediting its review process. Additional positive sentiment stems from the successful launch of a U.S.-based Solana staking ETF, which attracted notable inflows, and strong institutional interest, including significant SOL acquisitions by public companies and infrastructure migration by institutional exchanges. Solana also continues to demonstrate robust on-chain activity, with over 23 million active addresses reported recently and ongoing network upgrades planned for 2025. Current market data shows a 24-hour trading volume between $4.76 billion and $5.87 billion, a market capitalization of approximately $84.75 billion, and a circulating supply of about 535.72 million SOL, with the price trading in a range of $150.00 to $157.85 over the last day.