Solana ($SOL ) has once again become a focus for institutional investors. Major asset managers like Franklin Templeton and Grayscale have filed applications for a Solana ETF. In July, Solana's price saw an impressive 40% increase, reaching $206. This rise is attributed to growing on-chain activity within the Solana ecosystem. Solana-based meme coins, such as BONK, are also gaining considerable popularity. However, there has been some recent price decline due to regulatory issues and the shutdown of some platforms. The US government clarified that it would not directly purchase SOL but could hold seized assets in its reserves. This news created some uncertainty in the market. The total value locked (TVL) in DeFi on the Solana network has reached $9.85 billion. Some experts believe the current dip could be a good buying opportunity before a potential recovery in April.
Trading Signal:
$SOL USDT
Entry Price: $185 - $190
Stop Loss: $175
Take Profit: $210
