SOL Token Surges 2.38% as Binance Soft Staking and $11.4M ETF Inflows Drive Momentum

Solana (SOLUSDT) has seen a 2.38% price increase over the past 24 hours, with the current price at $180.82 on Binance, up from a 24h open of $176.62. This positive price movement is primarily attributed to several recent developments: Binance’s introduction of Solana soft staking, which allows users to earn daily rewards without a lock-up period, has likely boosted demand and holding interest; additionally, institutional inflows into Solana ETFs, totaling $11.4 million over the past week, signal growing investor confidence. Technical factors, such as a breakout from a long-term cup-and-handle pattern and increased liquid staking activity, have also contributed to bullish sentiment and short liquidations, further supporting upward momentum.

Currently, Solana trades at $180.82 with robust 24-hour trading volumes and a market capitalization near $97.5 billion, reflecting strong investor interest and solidifying its position among the top cryptocurrencies.