SOL Token Surges 4.72% as Binance SoftStaking and U.S. Inflation Data Drive Renewed Momentum

Solana (SOLUSDT) has experienced a 4.72% price increase over the past 24 hours, rising from a 24h open of 171.57 to a current price of 179.67 on Binance. This upward movement is attributed to renewed investor interest following the introduction of Binance's 'SoftStaking' feature for SOL, which allows users to earn staking rewards without locking their tokens, as well as broader market optimism after recent U.S. inflation data that has led to outperformance by Ethereum and Solana compared to Bitcoin. Technical analysis indicates that SOL rebounded from support levels around $157–$160, with buyers showing strength at these points, although the asset has faced resistance near $162–$164. The 24-hour trading volume remains substantial, reflecting strong market participation, and Solana maintains its position as the sixth-largest cryptocurrency by market capitalization, with a circulating supply of approximately 537.8 million tokens.