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Solana Climbs Amid Institutional Investments and ETF Backing Solana (SOL) has climbed to $134.35, marking a 0.89% gain over the last 24 hours and an impressive 20.39% increase over the past week. Its market capitalization now stands at $69.37 billion. Although 24-hour trading volume has declined by 14.73%, settling at $3.71 billion, bullish sentiment continues to build around the asset. Institutional interest has intensified. Real estate fintech company Janover recently added over $10 million in SOL to its treasury. With more than 163,000 SOL now under management, Janover is following a similar strategy to MicroStrategy’s Bitcoin approach — buying, staking, and holding long-term. This move reinforces growing trust in Solana’s infrastructure and staking rewards. Support for Solana also extends to regulated investment channels. Canadian institutions have backed Solana-based ETFs, adding another layer of credibility. These developments suggest that SOL is transitioning from a speculative asset to a longer-term investment holding. Technical Analysis On the chart, Solana recently broke structure (BOS) to the downside, indicating a growing bearish momentum. However, price found support and bounced off after recording a low of $95. Currently, the price is trading towards a high at $147. If it breaks above the the resistance, the price could extend toward $180, with potential continuation. Alternatively, if the breakout fails, a retest of the $110 zone may follow. The volume remains moderate, signaling cautious participation. The recent bullish activity aligns with institutional accumulation and ETF exposure. Key levels to watch include $110 as support and $147 high as near-term resistance. A sustained move, break and close above $147 may confirm the next bullish leg for Solana.
CRYPTO:SOLUSDLong
by DEXWireNews
Canada Approves First Spot Solana ETFs, Launch Set For 16th AprThe Ontario Securities Commission (OSC) has approved the world’s first spot Solana (SOL) exchange-traded funds (ETFs), marking a major step forward for crypto investment products in North America. Beginning April 16, 2025, several asset managers—Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ—will offer direct exposure to SOL on Canadian exchanges. Unlike derivatives-based products, these ETFs will hold physical SOL tokens, giving both institutional and retail investors a regulated way to invest in the Solana blockchain ecosystem. Each provider will track a separate index, allowing for a range of strategies. In addition, these funds will feature staking options, providing a potential yield advantage over other crypto ETFs. With this approval, Solana becomes the third cryptocurrency to receive spot ETF approval in Canada, following Bitcoin and Ethereum. The news has sparked increased whale activity and fresh speculation that the United States could follow with its own Solana ETF approvals in the future. Technical Analysis Solana’s price has been trading below $150, consolidating within a wider range. The key technical level to watch is $147, which marks an internal structure lower high. A strong break and close above $147 could signal a bullish shift in market structure, potentially triggering upward momentum. On the other hand, if the price fails to close above this level, it may drop below $120, reinforcing bearish pressure. The ETF launch could become a catalyst for either outcome, depending on how the market reacts to the new inflows. At present, Solana continues to trade just below the critical threshold, awaiting a decisive move as April 16 approaches.
CRYPTO:SOLUSDLong
by DEXWireNews
Solana Rises Over 18% In Last 7 Days as ETF Talks Fuel OptimismSolana has gained strong upward momentum, trading around $130 in the last 24 hours. The token reached a new weekly high, outperforming many altcoins during the broader crypto market recovery. Growing speculation around the possible approval of a Solana Exchange-Traded Fund (ETF) has fueled this bullish movement. Investor attention turned sharply after Bloomberg ETF analyst James Seyffart clarified that the U.S. Securities and Exchange Commission (SEC) has until October 10 to issue a final decision on the proposed Solana ETF. However, he also pointed out that early approval is still possible, though unlikely. Under the leadership of Paul Atkins and with input from Hester Peirce's Crypto Task Force, the SEC may fast-track decisions related to digital assets. A Solana ETF could bring institutional capital into the ecosystem, similar to what happened with Bitcoin and Ethereum after their respective ETFs gained approval. Analysts believe that updated regulations, especially regarding asset custody and digital definitions, will be key in shaping the outcome. If progress continues, early approval remains a possibility, although most market watchers still expect a final decision closer to the October deadline. Technical Analysis On the chart, SOL has found support at a major demand zone around the $110–$115 range. The price is now trading above this area after reading below $100 at some point, marking an internal bearish break of structure. If the bullish momentum can sustain to trade and close above the recent lower high at around $147, that move would suggest a shift in trend. If the price fails to maintain momentum and break above $147, bearish momentum will continue, with a potential retest of the support zone below $100.
CRYPTO:SOLUSDLong
by DEXWireNews
Traders bet big on US election with $345M in optionsMarket Update - August 22, 2024 Harris policy adviser talks digital assets: Speaking at a Bloomberg roundtable event, Kamala Harris policy adviser Brian Nelson said Harris will support policies to grow crypto and other emerging technologies. Spot bitcoin ETF holdings total $4.7 billion: Goldman Sachs and Morgan Stanley invested in BlackRock's iShares Bitcoin Trust, among other ETFs. Bitcoin crossed over $61,000 as volatility remains high: With the Federal Reserve's interest rate decision looming, traders are cautious about future price movements. Tether has launched its USDT stablecoin on the Aptos blockchain: The move comes as Tether’s main competitor, Circle, announced that USDC will soon have tap-to-pay functionality enabled. Traders have invested heavily in bitcoin options linked to the US election, with over $345 million in open interest: The majority of the interest is in call options, suggesting traders could be anticipating potential record highs in bitcoin. The SEC has rejected Cboe BZX’s filings for two proposed spot Solana ETFs, citing concerns about Solana's classification as a security: The decision has halted the approval process, with VanEck and others still vying to launch Solana ETFs. ▶️ Read more here ⛰️ Topic of the Week: What is Mt. Gox?
GEMINI:BTCUSD
by Gemini
Phemex Analysis #10: Solana - Blinks, ETF, and a 60% Surge! The recent surge in PHEMEX:SOLUSDT.P (SOL) price, fueled by the buzz surrounding its "Blinks" feature and speculation surrounding a potential Solana ETF launch, has drawn significant attention from the market. As we analyze the current price action, it's crucial to understand the key resistance and support levels that could shape SOL's future trajectory. Market Context: ETF Speculation: The anticipation of a Solana ETF, following the recent launch of Bitcoin and Ethereum ETFs, has injected a sense of optimism into the market. This speculation has contributed to the recent price surge. Blinks Feature: The introduction of Solana's "Blinks" feature, a novel technology for faster and more efficient transactions, has generated significant buzz on social media platforms like X (formerly Twitter). This positive sentiment has likely played a role in the recent price gains. Technical Analysis: Resistance: SOL's price has encountered resistance around the $205-$210 level. This resistance zone represents a significant psychological barrier and could potentially cap further upside movement. Support: A strong support level has been established at the $120-$110 range. This level represents a key area where buyers are likely to step in and prevent further price declines. Possible Scenarios: Bullish Breakout: A breakout above the $210 resistance level, accompanied by high trading volume, would signal a strong bullish sentiment. This scenario could potentially lead to a significant price rally, particularly if the overall market sentiment remains positive. Strong Rejection at $210: If the price encounters strong selling pressure at the $210 resistance level, it could trigger a retracement towards the $130 or even the $110 support levels. This scenario could present a buying opportunity for investors who believe in SOL's long-term potential, as the price consolidates around these support levels. Conclusion: The recent surge in SOL's price has been driven by a combination of factors, including ETF speculation and the excitement surrounding the "Blinks" feature. While the current price action is bullish, it's important to recognize the potential resistance and support levels that could influence future price movements. Investors should carefully consider these technical factors and the broader market sentiment before making any trading decisions. Note: Have you tried buying crypto on Phemex yet? We support 30+ payment methods, 60+ fiat currencies, and 10+ cryptocurrencies. There's definitely one that suits you! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Which ETF is next? ---- SOLAfter the ETH ETF, VanEck and 21Shares submitted application documents for the Solana ETF, and Solana saw a pump. We believe it is unlikely that the SEC will approve the SOL ETF, and even if it does, it will not be until 2025. As early as 2023, the SEC defined many Altcoins as securities, and SOL was one of them. Perhaps more and more Altcoin ETFs will be mentioned in the future, but they may not be confirmed and approved until 2024. If you are a trader, you can capture short-term long gains on these messages. Although the SOL ETF will not be passed in the near future, Solana is undoubtedly one of the most active ecosystems. Meme coins are growing like crazy on Solana, DEX trading volume is rising, and SOL is rising as a gas token. From the perspective of price performance, at the 4h level, after ending a successful downward prediction, the TSB indicator prompted an increase on June 27. After that, SOL started pumping again. The column is currently falling close to the wavy zone, which will provide support to SOL. Introduction to indicators: Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated. KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by sypool-AI-TradeGenius