SOL Token Surges 2% as U.S. Staking ETF Launch and Institutional Focus Drive $3.67B Volume

Solana (SOL) has experienced a 2.08% price increase over the past 24 hours, currently trading at $162.98 on Binance. This recent upward movement is attributed to several factors, including the launch of the first Solana staking ETF in the U.S., which generated strong trading interest, and increased institutional attention, such as BIT Mining's announcement to focus its treasury on SOL. Additionally, continued growth in Solana's NFT and GameFi sectors, as well as high network activity with over 35 million transactions processed in the last day, have contributed to positive sentiment. Legislative developments during U.S. Crypto Week also influenced trading dynamics across major tokens.

Solana is ranked as the sixth-largest cryptocurrency by market capitalization, with a current market cap of approximately $86.82 billion, a circulating supply of over 536 million SOL, and a 24-hour trading volume of about $3.67 billion. The price has fluctuated between $158.00 and $163.06 in the past day, reflecting ongoing volatility and active trading interest.