Why Solana is Up: ETF News and Helium Integration Drives SOL Price
Solana (SOL) has seen a strong price jump over the last few days, catching the attention of both traders and long-term crypto users. At the time of writing, the token is trading at $134.55, after an 8.05% increase in just 24 hours, as per CoinMarketCap data. In the last week, the altcoin jumped 17.24% from $114.89 to $134.73. It has become one of the strongest-performing altcoins in recent times due to this increase.
Source: CoinMarketCap
Why Solana is Up? Top Reasons Discussed
Some big news about the project and the ecosystem have had a huge hand in this price surge. Here are the three most important ones:
Canada Approves First Spot Solana ETFs with Staking Reward: Canada made history by becoming the first country to approve spot Solana ETFs that also provide staking rewards. The ETFs are being launched by asset managers like Purpose, Evolve, CI Global, and 3iQ on April 16.
These funds hold actual SOL tokens (not futures), and permit shareholders to accrue yield by staking, with projected annual returns of 6–8%. This step marries passive investing with DeFi-like returns, providing a novel product that unites the advantages of blockchain with conventional finance.
It's a giant leap forward not just for the crypto but also for other crypto tokens seeking mainstream acceptance.
Helium Integrates with Solana to Power Global Telecom: Another large one is the amalgamation of Helium's DePIN (Decentralized Physical Infrastructure Network) with Solana's platform. It seeks to enhance the speed and security of telecom services employing blockchain technology.
The transition does this by bringing down costs, enhancing network pace, and eradicating danger that results from employing bridges amid networks. Technologists anticipate the same could culminate in blockchain usage becoming the norm in the telecommunication realm.
Polymarket Prediction Indicates Robust Bullish Sentiment: Based on statistics from Polymarket, about 96% of the users forecasted SOL to rise beyond $120 by April 18. As the token has already surpassed that threshold, investor confidence is even more robust now.
Source: Polymarket
Just 4% opposed this action, which indicates that the majority of the community still trusts Solana's upward trend.
Solana Price Prediction: Will it Continue to Rise or Experience a Pullback?
Looking at the 30-minute price chart, SOL is showing a bullish reversal pattern. Following a dip below $125 earlier, the coin bounced back strongly and is currently consolidating around $135, according to TradingView.
Source: TradingView
With the bullish strength persisting, SOL may not be far off from breaking through the $135.50 resistance level and reaching $138 in the near future.
But if purchasing pressure slows down, the price may drop back to $131.20 or even $128, the next good support level. It could be taken down to $124.50 in a more severe correction.
In short, the trend continues to be bullish, but investors need to watch out. The market momentum is high, but unexpected corrections always happen in the crypto market.
Conclusion
The price action of the altcoin in the recent past has been backed by good fundamentals as well as mounting confidence in the project. The altcoin has been making a name for itself from spot ETF launches in Canada to celebrity-level integrations like Helium. Whether it further climbs or trails off in the short term, one thing for sure is the fact that — the SOL community is highly involved, and the platform continues to attract considerable traction from users as well as institutions.
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