SOL Token Surges 3.64% as Spot ETF Hopes and Institutional Activity Drive Record Volumes

Solana (SOL) has experienced a 3.64% price increase over the past 24 hours, rising from a 24-hour open of $146.13 to a current Binance price of $151.45. This upward movement is primarily attributed to heightened market optimism surrounding the potential approval of a spot Solana ETF, which has driven increased trading volumes and institutional activity, as evidenced by record CME futures volumes and significant purchases such as Upexi’s recent $7.8 million acquisition. Strong ecosystem growth, ongoing institutional adoption, and robust on-chain fundamentals have further supported positive sentiment and contributed to the recent price momentum.

Currently, SOL is trading at $151.45 with a 24-hour trading volume between $2.99 billion and $3.81 billion, a market capitalization slightly above $80 billion, and a circulating supply of around 534.4 million SOL, maintaining its position as the sixth-largest cryptocurrency by market cap.