Solana price gained 7.83% in the last 24 hours, with trading volumes doubling to $4.53 billion, driven by optimism around Solana ETF approval.
While the broader crypto market consolidates, Solana SOL $238.8 24h volatility: 2.7% Market cap: $129.41 B Vol. 24h: $7.49 B price has shown a strong upside of 7.83% in the last 24 hours, with daily trading volumes soaring by a massive 100% to more than $4.53 billion. This massive boost in trading volume comes amid optimism surrounding the Solana ETF, along with crypto exchange Bybit launching a Solana-based decentralized exchange Byreal.
SOL Price Bounces With Analysts Eyeing Mega Rally
For a long period of time, the SOL price has oscillated between the key support and resistance levels of $140-$185. Today’s upside comes with a 100% surge in trading volumes, suggesting that bulls are preparing for a bigger move this time.
As per the CoinGlass data, the SOL futures open interest has also surged 10.27% to nearly $7 billion. Furthermore, the daily liquidations for SOL have also shot past $14 million, of which $11 million is in short liquidations.
Prominent crypto analyst Old Hawk has outlined a bullish trajectory for Solana (SOL). According to the analyst, SOL price must first break above the $187 mark to set the stage for further upward momentum. Crossing this will open the gates for the bulls to take it further to its all-time high of $263.
“If $263 is breached, we could easily enter price discovery,” Old Hawk noted, suggesting a period of uncharted price growth for the cryptocurrency.
$SOL needs to break above $187 — if that happens, there’s no major resistance until $263 📈
After that, we could easily enter price discovery 🚀
If a Solana ETF gets approved, we might even see $400–$500 by year’s end 💰 pic.twitter.com/zwzodHRcIQ
— OldHawk (@oldhawksol) June 15, 2025
The analyst also highlighted the potential impact of a Solana ETF approval, which could further catalyze the rally. “With an ETF in play, we might even see $400–$500 by year’s end,” Old Hawk added.
Solana ETF Coming This Summer?
Last week, Bloomberg senior ETF strategist Eric Balchunas stated that the odds of approval for a Solana ETF have surged to 90%. He also stated that an altcoin ETF summer is around the corner, raising the odds of approval.
Fidelity Investments has formally submitted an S-1 registration with the US Securities and Exchange Commission (SEC) for a spot Solana ETF on June 14, 2025. This filing underscores Fidelity’s leadership in advancing spot ETF offerings tied to Solana. On the other hand, Invesco and Galaxy Digital have also filed for spot Solana ETFs.
Hong Kong-based MemeStrategy has made history as the first publicly listed company in the region to invest in the Solana ecosystem. The firm has acquired 2,440 SOL tokens, valued at approximately HKD 2.9 million, signaling a growing institutional interest in Solana’s blockchain technology.
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