SOL Token Surges 4.74% as SEC Approves Staked ETF and Institutional Demand Hits Record Highs

Solana (SOLUSDT) experienced a notable price increase of 4.74% over the past 24 hours, rising from a 24h open of $150.73 to $157.88 on Binance. This upward movement is primarily attributed to a combination of factors, including the announcement of SEC approval for the first staked Solana ETF in the US, ongoing institutional accumulation (such as Upexi’s addition of 56,000 SOL), and record-high CME futures volume, which collectively signaled heightened investor confidence and increased demand. Despite a recent net outflow of 491 million SOL from long-term holders and a decline in new wallet creation, the market has responded positively to Solana’s expanding DeFi ecosystem, record stablecoin issuance, and strong trading activity. Currently, Solana is trading with high liquidity, a market cap near $80.6 billion, and ranks #6 globally, demonstrating resilience and renewed momentum amid broader crypto market developments.