SOL Token Surges 3.51% as Whale Staking, ETF Launch, and Firedancer Boost Momentum

In the past 24 hours, Solana (SOL) experienced a price increase of 3.51%, with the SOLUSDT pair trading at $181.76 on Binance. The price movement is attributed to significant whale activity, including a withdrawal of 55,664 SOL from Binance to Kamino for staking, representing 0.12% of the circulating supply and reducing Binance's SOL balance by 3.2%. Additional factors influencing the price include growing institutional interest, such as Upexi's accumulation of over 2 million SOL and the launch of the first U.S. ETF with Solana exposure and staking rewards. Technological advancements, including the partial launch of the Firedancer validator client and upcoming integration of Solana with Coinbase's DEX, have further supported positive sentiment.

Solana's market capitalization is approximately $97.68 billion, ranking #6 among cryptocurrencies, with a circulating supply near 540 million SOL and a 24-hour trading volume of about $6.16 billion. The asset has shown dynamic movement, with recent highs and lows ranging from $173.49 to $179.63 and $166.72 to $173.85, respectively.