SOL Token Surges 9.76% as $22M Shorts Liquidated and Staking ETF Draws $12M Inflows

Solana (SOL/USDT) has experienced a strong upward movement in the last 24 hours, with the price rising 9.76% to $198.48 on Binance. This price surge is primarily attributed to a combination of significant short liquidations, including a $22 million short position, and renewed institutional interest following the launch of the REX-Osprey Solana Staking ETF (SSK) in the U.S., which attracted $12 million in inflows and offers institutional access to SOL with staking rewards. Additional factors supporting the rally include $39 million in weekly institutional inflows, increased ecosystem activity—particularly in token launches and DeFi/NFT advancements—and the anticipation of new staking products.

Currently, Solana is trading at $198.48 with a 24-hour open of $180.83, reflecting a 9.76% price increase; trading volumes have surged significantly, and the asset maintains a market capitalization near $103 billion, continuing its bullish momentum and ranking among the top cryptocurrencies by market cap.