Solana (SOL) price rose by nearly 5% in the past 24 hours, driven by increasing optimism around Solana ETF approval.
Solana SOL $89.05 24h volatility: 4.6% Market cap: $50.87 B Vol. 24h: $4.56 B price has seen a healthy uptick in the last 24 hours, gaining nearly 5% as the odds of a Solana ETF approval increase, according to the latest Bloomberg report. Furthermore, the daily trading volume for SOL has also surged by nearly 40% to $5.42 billion, showing a strong bullish sentiment for the Ethereum competitor.
As of press time, SOL price is trading at $165, where it’s been consolidating for the past month.
Solana is on the verge of a significant breakout, with analysts suggesting that surpassing the $200 mark could trigger a substantial bull run. According to market expert Ali Martinez, this milestone might pave the way for a potential 5x to 10x surge in Solana price
#Solana $SOL breaking above $200 could catalyze a major 5X to 10X bull run! pic.twitter.com/WlkH38xE0O
— Ali (@ali_charts) June 10, 2025
As per the CoinGlass data, the Solana futures open interest has surged 11% in the last 24 hours, surging past $7.5 billion, suggesting strong bullish sentiment for the altcoin.
Solana ETF Approval Can Trigger SOL Price Rally
Bloomberg ETF strategists James Seyffart and Eric Balchunas have shared an important update noting that an altcoin ETF summer is around the corner, with Solana ETF having the highest odds of approval. A total of seven issuers have already filed for spot Solana ETFs.
Additionally, the Bloomberg analysts also stated that the US SEC may expedite decisions on spot Solana and staking ETF filings in response to Rex-Osprey’s efforts to leverage regulatory and legal workarounds to launch Solana and Ether staking products.
Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
— Eric Balchunas (@EricBalchunas) June 10, 2025
The ETF Store President Nate Geraci commented on the development.
Looks like SEC about to open floodgates on crypto ETFs…
Last step before all major brokerages offer direct spot crypto trading.
Then we head down path towards full securities tokenization.
ETFs = bridge b/w tradi & defi.
That bridge is nearly built.
Crypto going mainstream.
— Nate Geraci (@NateGeraci) June 11, 2025
Additionally, the Solana blockchain is also becoming the preferred choice for institutions to launch their products in the market, including applications in sectors like crypto casinos. In the latest development, French financial giant Societe Generale-FORGE stated that it plans to launch its USD-pegged stablecoin on the Solana blockchain network.
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