SOL Token Surges 4% as U.S. ETF Launch, Whale Moves, and Hong Kong Approval Drive Momentum

Solana (SOLUSDT) has seen a 4.05% price increase over the last 24 hours, currently trading at 201.65 USDT on Binance. The recent price movement is attributed to heightened institutional and whale activity, including a notable sale of 86,254 SOL by Pump.fun to Kraken, and increased market interest following the launch of the first U.S. ETF with Solana exposure and staking rewards. Additional factors supporting the uptrend include robust trading volume, positive sentiment from the approval of Solana trading for retail investors in Hong Kong, and the launch of tokenized US equities on the Solana blockchain. Solana’s market capitalization stands near $108-$109 billion, with a 24-hour trading volume exceeding $12 billion, reflecting strong market engagement and continued bullish momentum.