SOL Token Surges 3% as Institutional Investments and ETF Launch Drive $7B Trading Volume

Solana (SOLUSDT) has experienced a 3.05% price increase over the past 24 hours, with the current price at $159.16 on Binance, up from a 24-hour open of $154.45. This upward movement is primarily attributed to heightened institutional interest, including BIT Mining’s announcement to shift its crypto holdings into SOL and raise up to $300 million for SOL purchases, as well as strong speculation around the potential approval of a spot Solana ETF, which has boosted market sentiment. Additional factors include the successful launch of the REX-Osprey SOL + Staking ETF, increased futures trading volume on CME Group, and active community engagement through Binance’s SOL-related promotions and reward campaigns.

Market activity remains robust, with 24-hour trading volume surging as high as $7.09 billion and market capitalization around $85 billion, ranking Solana #6 among cryptocurrencies. The price has traded between $152.34 and $159.34 in the last day, reflecting strong demand and positive momentum in both institutional and retail segments.