SOL Price Rises Nearly 5% Amid Increasing ETF Approval Odds
Solana's price has increased nearly 5% in the last 24 hours, reaching $165, attributed to rising expectations of a Solana ETF approval. Daily trading volume surged by about 40% to $5.42 billion, reflecting bullish sentiment.
Key points include:
- Potential breakout above $200 could trigger a 5x to 10x price surge.
- Solana futures open interest rose 11% to over $7.5 billion.
- Bloomberg analysts predict an "altcoin ETF summer," with high odds for Solana ETF approval.
- Seven issuers have filed for spot Solana ETFs; SEC may expedite decisions on related filings.
- Societe Generale-FORGE plans to launch a USD-pegged stablecoin on the Solana blockchain.
The developments suggest strong institutional interest and increasing regulatory support for Solana in the cryptocurrency market.