#SolanaSurge
Reasons for the recent rise in Solana
1. Launch of the first instant ETF funds for Solana in Canada:
Canada has approved the first instant ETF fund for Solana, giving investors the opportunity to own Solana directly with staking returns of 6–8% annually. This has attracted significant interest from institutions.
2. Huge influx of funds towards the Solana network:
Over the past month, more than $120 million has entered the Solana network, with staking deposits rising by 2 million SOL (approximately $270 million).
3. Positive technical indicators:
Chart analysis shows the formation of a technical pattern known as "inverse head and shoulders," indicating a potential price increase of 40% to reach $190.
Current price:
Approximately $134.4 for Solana.
Conclusion:
Solana is experiencing a strong surge thanks to ETF news, increased confidence in the network, and positive technical indicators. However, as always, caution is required as the market is volatile.
