SOL Token Surges 5.2% as ETF Hopes, Institutional Inflows, and DeFi Records Drive Momentum

Solana (SOL) has risen 5.20% in the past 24 hours, currently trading at $166.55 on Binance, with a 24-hour open of $158.31. The price increase is primarily attributed to growing optimism around potential approval of Solana-based spot ETFs in the US, with major asset managers such as Grayscale, Fidelity, and VanEck filing applications and analysts estimating a high likelihood of approval by July 2025. This institutional interest is reinforced by Solana’s recent inclusion in the Nasdaq Crypto US Settlement Price Index and its proposed addition to the Hashdex Nasdaq Crypto Index US ETF. Additional drivers include record-high activity in Solana’s DeFi and stablecoin sectors, with on-chain stablecoin supply reaching $13 billion and Total Value Locked (TVL) at approximately $9.1 billion, reflecting strong network usage and ecosystem growth. Futures open interest has also surged by 12% in the last day, indicating heightened institutional and speculative activity, though this may contribute to increased short-term volatility. Overall, Solana maintains robust momentum, supported by expanding DeFi participation, institutional engagement, and positive technical indicators.