SOL Token Surges 2.26% as Binance Soft Staking, Record Futures, and Network Activity Drive Demand

Solana (SOL) experienced a 2.26% price increase over the last 24 hours, with the SOLUSDT pair trading at $179.83 on Binance, up from a 24-hour open of $175.85. This positive price movement is attributed to several factors: Binance's recent launch of Soft Staking for SOL, which allows users to earn daily rewards without lock-up, and the introduction of Shariah-compliant Earn products, both of which have likely increased demand and user engagement. Additionally, Solana's bullish momentum is supported by a surge in futures open interest, reaching a record $9.71 billion, and heightened network activity, including a two-month high in daily token launches. The asset's strong trading volume, with Binance Futures reporting 36.55 million SOL traded (about $6.50 billion USDT), and a market capitalization of approximately $96.75 billion, further underscore robust market participation and investor confidence.