CME Group to Launch SOL Options Trading as Staking ETF Hits $289M

Solana Market Update

Solana's price experienced a decline amid market volatility, dropping to $232 from recent highs near $245.
The drop is linked to investor focus shifting towards gold as a hedge against inflation due to US macroeconomic indices.
CME Group will launch options trading for Solana and other cryptocurrencies starting October 13, potentially increasing liquidity.
Rex Shares' Solana Staking ETF has attracted nearly $300 million in inflows since its July launch, indicating strong institutional interest.

Rex Shares’ Solana Staking ETF (SSK) Market performance data as of Sept. 16, 2025

Technical Analysis and Forecast

Solana's price is supported at $230 with resistance near the 50-day moving average at $237.
A break above this resistance could lead to a target of $260.
The MACD indicator suggests bullish momentum despite recent pullbacks.
Key support levels include $220 and potentially $200 if further corrections occur.

Solana (SOL) Technical Analysis | SOLUSD 24 Hour Chart, TradingView, Sept. 17, 2025

Impact on Early-stage Projects

Solana's whale demand positively influences early-stage projects like Best Wallet, which offers multi-chain crypto storage and security.
Best Wallet's presale has raised over $15.9 million, driven by traders seeking diversification.

Best Wallet Presale