SOL Token Surges 2.66% as Institutional Holdings Top $591M and Trading Activity Accelerates

Solana (SOLUSDT) has risen 2.66% in the past 24 hours, currently trading at $182.69 on Binance. The price increase is primarily attributed to heightened institutional interest, with publicly traded companies now holding over $591 million in SOL and Upexi recently adding SOL to its treasury. Additional factors include a $750 million USDC mint fueling DeFi and memecoin activity, rapid growth in the Solayer protocol’s total value locked, and Coinbase’s launch of perpetual futures contracts for SOL, which has boosted trading volumes and liquidity. A notable $1.4 billion withdrawal from staking suggests a shift toward more active trading strategies. Solana’s market capitalization stands at over $98 billion, with a 24-hour trading volume of approximately $4.98 billion, reflecting strong investor engagement and bullish momentum.