SOL Token Surges 4% as Network Activity Hits 20-Week High and ETF Optimism Grows

Solana (SOL) is trading at $149.53 on Binance, up 4.13% over the past 24 hours from a 24h open of $143.60, with a 24-hour trading volume of approximately $2.78 billion and a market capitalization near $80.1 billion. The recent price increase is attributed to a surge in network activity, with Solana processing 111.2 million transactions in a single day—the highest in 20 weeks—and the growing adoption of the Firedancer validator client, which now accounts for 8.6% of Solana’s staking share. Additionally, Solana’s position as the second-largest blockchain by decentralized exchange trading volume ($64.1 billion in the past 30 days) and the launch of micro futures contracts on Robinhood have contributed to heightened investor interest. Market optimism is further supported by ongoing applications for a spot Solana ETF, with industry analysts estimating a high likelihood of approval in 2025, which has reinforced positive sentiment despite recent monthly volatility.