SOL Token Surges 3.41% as Soft Staking, $20M ETF Inflow, and Institutional Moves Drive Momentum

Solana (SOLUSDT) experienced a 3.41% price increase over the past 24 hours, with the current price at $163.96 on Binance. The recent price momentum is primarily attributed to several positive developments: the introduction of Soft Staking for SOL on Binance, allowing users to earn rewards without lock-up periods; significant institutional interest, highlighted by BIT Mining’s strategic entry into the Solana ecosystem and a $300 million token treasury announcement, which led to a sharp rise in BIT Mining’s stock; and notable inflows into Solana ETFs, including a $20 million single-day inflow into the $SSK ETF. Additionally, increased futures trading volume, active participation in Solana derivatives, and optimism around potential spot Solana ETF approval have contributed to heightened market activity and bullish sentiment.

In the last 24 hours, Solana traded between $155.64 and $166.80, with a 24-hour volume of approximately $656.66 million for the SOL/USDT pair on Binance and a market capitalization near $88 billion, reinforcing its position among the top cryptocurrencies.