SOL Token Surges 4.18% as Spot ETF Optimism, Staking, and DeFi Activity Drive Momentum

Solana (SOLUSDT) has experienced a 4.18% price increase over the past 24 hours, rising from a 24h open of 151.60 to a current price of 157.94 on Binance. This upward movement is primarily attributed to heightened investor optimism surrounding the potential approval of a spot Solana ETF, which has significantly boosted market sentiment. Additional contributing factors include the launch of Soft Staking for SOL on Binance, strong user participation in staking, increased DeFi and trading activity on the Solana network, and the introduction of perpetual contract trading by Phantom wallet. Robust trading volume, reported between $4.76 billion and $5.37 billion, and a market capitalization near $84.26 billion underscore Solana’s strong market presence, with the asset consolidating near key resistance levels amid active trading.