Coinspeaker

Jun 16, 2025

2 0

SOL Price Rises 7.83% with $4.53 Billion in Daily Trading Volume

Solana's price increased by 7.83% in the last 24 hours, with trading volumes rising 100% to over $4.53 billion. This surge is attributed to optimism surrounding a potential Solana ETF and the launch of Bybit's decentralized exchange, Byreal.

SOL Price Movements

• SOL has been fluctuating between support at $140 and resistance at $185.
• Futures open interest for SOL rose by 10.27% to nearly $7 billion.
• Daily liquidations surpassed $14 million, primarily from short positions.
• Analyst Old Hawk indicates a bullish trend; breaking $187 could lead to further gains towards an all-time high of $263.
• He predicts potential prices of $400–$500 if a Solana ETF is approved.

Solana ETF Developments

• Bloomberg's Eric Balchunas reported a 90% chance of Solana ETF approval.
• Fidelity Investments filed for a spot Solana ETF on June 14, 2025.
• Invesco and Galaxy Digital also submitted applications for spot Solana ETFs.
• MemeStrategy became the first publicly listed company in Hong Kong to invest in Solana, acquiring 2,440 SOL tokens valued at approximately HKD 2.9 million.