SOL Token Surges 5.4% as On-Chain Value Hits $418M and ETF Launch Fuels Investor Interest

Solana (SOLUSDT) has experienced a 5.40% price increase over the past 24 hours, rising from a 24h open of $159.17 to a current price of $167.76 on Binance. This upward movement is attributed to several factors, including strong on-chain growth with tokenized value on Solana surpassing $418 million (a 140% increase in the first half of the year), significant fundraising activity such as Upexi Treasury’s $50 million round and large SOL holdings, and anticipation around the upcoming ES Token launch and airdrop registration. Additional positive sentiment stems from recent approval and launch of Solana-related ETFs, as well as ongoing comparisons to Ethereum and discussions about Solana’s potential market position. The asset has seen substantial trading activity, with 24-hour volume ranging from $5.91 billion to $13.4 billion and a market capitalization near $89.4 billion, reflecting heightened investor interest and volatility.