SOL Token Surges 6.8% on ETF Approval Optimism and $7.8M Upexi Acquisition, Trading Volume Climbs

Solana (SOL) has experienced a notable price increase over the past 24 hours, with the current price on Binance at $151.06, up 6.82% from a 24h open of $141.42. This upward movement is primarily attributed to heightened optimism surrounding the potential approval of a spot Solana ETF, with analysts giving a high probability of SEC approval in 2025, and increased retail interest following Robinhood’s introduction of micro futures contracts for Solana. Additionally, recent large-scale purchases, such as Upexi’s $7.8 million acquisition of SOL, have contributed to positive sentiment and increased trading activity. Despite a broader monthly decline of approximately 15%, trading volumes have risen, indicating sustained market interest and the potential for further volatility as investors respond to ongoing ETF developments and institutional activity. Current market capitalization is estimated between $75.9 billion and $76.56 billion, with a circulating supply of 534,454,000 SOL.