SOL Token Surges 5.95% as ETF Anticipation and $7.8M Institutional Buy Fuel Rally

Solana (SOL) has experienced a 5.95% price increase over the past 24 hours, rising from a 24h open of $142.54 to a current price of $151.02 on Binance. This upward movement is primarily attributed to renewed investor optimism driven by rising anticipation for a spot SOL ETF approval, with multiple applications pending and analysts estimating a high likelihood of approval this year. Additional factors supporting the price include increased on-chain activity, a surge in new network addresses, and notable institutional investment such as Upexi’s recent $7.8 million SOL purchase. While the asset saw a monthly decline of approximately 15%, the recent rebound and strong trading volume—over $3 billion in the last 24 hours—underscore continued market interest and resilience. Solana remains ranked #6 by market capitalization, with a circulating supply of about 534.35 million SOL.