The main catalyst for the price of the Solana coin is the growing hope that the altcoin season index will continue to rise this month. This index continued to rise while Bitcoin remained in a narrow range.
An altcoin season will benefit Solana, as it is one of the most popular in the sector. Its meme ecosystem will also benefit it, likely leading the growth. Data shows that the market capitalization of all Solana memecoins has skyrocketed to over 15 billion dollars.
The price of SOL also skyrocketed, as the assets of the Rex Staked Solana ETF surpassed the 100 million dollar mark and reached an all-time high of 107 million dollars. This is a remarkable growth for an ETF launched three months ago.
The increase in inflows is a sign that Wall Street investors are becoming interested in altcoin ETFs. Polymarket data shows that the probability of the SEC approving a spot SOL ETF has increased to nearly 100%.
The supply of Solana's stablecoin has increased by 6.3% in the last 30 days, surpassing 11 billion dollars. Its addresses increased by more than 85%, surpassing 3.7 million, while the adjusted transaction volume skyrocketed by 60%, reaching 132 billion dollars.
