Solana Jumps 16% to $160 as REX Shares SOL Staking ETF Nears Approval
Solana’s 16% rally approaches $160 amid speculation that the SEC may approve the first-ever Solana Staking ETF, potentially driving institutional adoption and supply squeeze.
US SEC on the Verge of Solana Staking ETF Approval
Solana’s recent rally comes as prominent Bloomberg ETF analyst James Seyffart suggested that the US Securities and Exchange Commission (SEC) may be close to approving REX Shares’ application to launch a Solana Staking ETF.
Solana staking deposits | Source: StakingRewards, June 30 2025
REX Shares proposed ETF would offer exposure to Solana staking rewards while enabling investors to earn staking yield without self-custody risks.
At press time, investors have staked 391.3 million SOL across active nodes and smart contracts, with average reward rate of 7.52% annually, according to data from analytics platform StakingRewards. This represents nearly 65% of the total 604 million SOL coins in circulation locked to secure the network and earn yield.
While Solana’s price action remains subdued below the $160 mark on Monday, the potential long-term impacts could enhance investors sentiment on SOL relative to rival altcoins. The SOL Staking ETF could drive the next wave of Solana’s institutional staking deposits, further squeezing circulating supply and exerting upward pressure on prices.
SOL Breaks Falling Wedge Pattern, Eyes $200 Recovery Target
Technical analysis of Solana’s daily chart reveals a textbook falling wedge pattern, a bullish formation that occurs when price action contracts between two downward-sloping trendlines.
After multiple failed attempts in June, SOL has now broken above the wedge’s upper boundary near $155, confirming a potential trend reversal.
This pattern historically signals strong upward momentum, especially when paired with high-volume breakout as observed in the current trading session.
The current move positions SOL for a run toward the $175 intermediate resistance, with the $200 zone, last reached in late March, emerging as the ultimate bullish target.
Solana price forecast | TradingView
Notably, the RSI remains neutral at 54.80, leaving room for further upside before reaching overbought territories.
However, traders should monitor key volume clusters. If buying pressure falters below $165, a pullback toward the $145–$150 consolidation base remains likely. But if ETF approval coincides with bullish technicals, Solana could chart its path toward reclaiming $200 and possibly testing new year-to-date highs.
Snorter Presale Heats Up as Solana Eyes $200 Breakout
While Solana rallies on ETF optimism, early-stage meme-fueled projects like Snorter are riding the wave of renewed market interest. Snorter, a Solana-based AI trading bot project, is now in presale and quickly gaining traction among retail investors chasing the next breakout token.
With over $1.6 million raised and only days remaining in the current phase, $SNORT is emerging as one of the most talked-about Solana microcaps. Early presale participants can buy $SNORT at $0.0965, gaining exposure to a project that combines meme culture with real AI utility, including auto-trading tools, smart money tracking, and deep DeFi analytics.
As SOL regains strength, projects within its ecosystem like Snorter stand to benefit from the rising tide. With staking rewards, early launchpad access, and DeFi integration baked into its roadmap, $SNORT could be the sleeper hit of the Solana ETF cycle. Join the Snorter Presale here.
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I’m a research analyst with experience supporting Web3 startups and financial organizations through data-driven insights and strategic analysis. My goal is to help organizations make smarter decisions by bridging the gap between traditional finance and blockchain innovation.
With a background in Economics, I bring a solid understanding of market dynamics, financial systems, and the broader economic forces shaping the crypto industry. I’m currently pursuing a Master’s degree in Blockchain and Distributed Ledger Technologies at the University of Malta, where I’m expanding my expertise in decentralized systems, smart contracts, and real-world blockchain applications.
I’m especially interested in project evaluation, tokenomics, and ecosystem growth strategies, as these are areas where innovation can drive lasting impact. By combining my academic foundation with hands-on experience, I aim to provide meaningful insights that add value to both the financial and blockchain sectors.
