SOL Token Surges 8% to $143 as ETF Hopes and Solaxy Layer-2 Drive Institutional Interest

Solana (SOL) has risen 8.23% over the past 24 hours, now trading at $143.41 (Binance data), following a period of significant market volatility. The recent price surge is primarily attributed to a strong rebound from last week’s lows near $124, driven by renewed bullish sentiment after major liquidations across the crypto market—over $875 million in liquidations were reported, influenced by geopolitical developments involving the US and Iran. Additional upward momentum comes from institutional interest, ongoing SEC reviews of Solana ETF proposals, and the successful launch of the Solaxy (SOLX) layer-2 solution, which has attracted substantial capital and attention to the Solana ecosystem. Trading volume remains elevated, reflecting increased market participation and optimism, though resistance levels near $138–$150 could prompt short-term consolidation if not decisively breached.