SOL Token Jumps 12% as $250M Investment, ETF Buzz, and Trading Volume Propel Market Cap Past $106B

Solana (SOLUSDT) has surged by 11.95% in the past 24 hours, with the current price at $196.89 on Binance. The price increase is primarily attributed to strong technical momentum, significant institutional adoption—including DeFi Development Corp’s $250 million investment and rising holdings by publicly traded companies—and anticipation surrounding a potential Solana spot ETF filing by 21Shares. Additional factors include a scheduled token unlock of 465,770 SOL, notable withdrawals from exchanges, increased staking activity, and robust market interest reflected in an 80% spike in trading volume. Solana’s market capitalization now exceeds $106 billion, with a 24-hour trading volume of approximately $11.16 billion, positioning it as the sixth-largest cryptocurrency by market cap.