SOL Token Surges 2.1% as ETF Filing, Record On-Chain Activity, and Market Rally Drive Momentum

Solana (SOLUSDT) has experienced a 2.10% price increase over the past 24 hours, rising from an open of 195.07 to a current price of 199.16 on Binance. This upward movement is primarily attributed to strong bullish momentum driven by renewed institutional interest, including the recent filing for a Solana ETF by 21Shares, and robust on-chain activity such as record-high open interest and active wallet numbers. Additional factors supporting the price surge include a broader cryptocurrency market rally, technical breakouts like the confirmed "cup-and-handle" pattern, and significant growth in Solana’s tokenized asset market.

Currently, Solana is trading at 199.16 with a 24-hour trading volume of $12.46 billion and a market capitalization between $105.30 billion and $108.53 billion, reflecting strong investor participation and continued volatility.