🚀 Is it Solana's turn?
Solana (SOL) surged 19% and is now trading around $190.07, outperforming much of the crypto market, driven by growing institutional appetite. Ranked sixth in market value, SOL has been standing out due to its recognized efficiency in scalability and continuous increase in global adoption.
Key Institutional Catalysts
• ETFs on the Radar: The chances of approval for spot SOL ETFs by the SEC by October stand at 99%, according to industry experts.
• New Staking Products: The REX-Osprey SOL Staking ETF has already attracted $41 million in recent investments.
• Corporate Allocation: A company listed on Nasdaq allocated $150 million to SOL-based strategies, reinforcing institutional confidence.
ETF and Staking Scenario | Technical Strength
• Chart Analysis: The cup-and-handle formation points to a potential target of $300.
• Important Resistances: Stay alert to the regions between $189 and $235.
• On-Chain: TVL jumped 50%, reaching $9 billion, with 3.3 million active wallets. The network maintains high efficiency, processing 5,000 transactions per second at a cost of only $0.00025 per operation.
DeFi Expansion and Community Outlook
Optimism reigns, with 91.7% of the community positive and analysts projecting that SOL could surpass $300 by the end of the year. Buying opportunities arise on dips to $173-$179, but it is essential to monitor both regulatory advancements and potential price fluctuations due to profit-taking.
