Solana (SOL) shot up a massive 8% in the past 24 hours amid reports of significant inflows in SOL-based investment products.
Solana SOL $218.9 24h volatility: 3.3% Market cap: $118.71 B Vol. 24h: $9.28 B has captured the attention of traders and institutional investors alike, signaling a bullish trend after an 8% price increase in the past 24 hours. At press time, SOL trades at $143.3, substantially down from the 20-day EMA.
On Binance Futures, a staggering 78.82% of traders currently hold long positions on SOL, as highlighted by crypto analyst Ali Martinez. CoinGlass data shows a massive 106% increase in SOL derivatives volume and an 1,117% surge in options.
Rising derivatives activity is also a sign of increasing bullish sentiment on the SOL token, currently ranked as the sixth-largest digital asset.
Institutional Interest Increases: $6.4M in Inflows
According to CoinShares, Solana investment products recorded $6.4 million in inflows, while Ethereum ETH $4 313 24h volatility: 0.4% Market cap: $520.60 B Vol. 24h: $28.06 B faced $86 million in outflows.
This significant shift indicates that institutional investors are reallocating capital towards Solana, possibly viewing it as a stronger alternative to Ethereum.
Additional support for SOL came from inflows into Polygon and Chainlink, reinforcing a broader altcoin interest.
Spot Solana ETF Approval
The excitement around Solana is further fueled by Polymarket predictions, which place an 87% probability on the approval of a spot Solana ETF in 2025.
Source: Polymarket
United States President Donald Trump recently mentioned SOL among a select group of cryptocurrencies that could be included in the US crypto reserve.
With a pro-crypto SEC operating with full focus, the likelihood of a Solana ETF gaining approval is improving. If realized, this could bring significant institutional money into the ecosystem, mirroring the success of Bitcoin ETFs.
SOL Price Analysis
According to the daily chart below, the Relative Strength Index (RSI) sits at 52.14, indicating that SOL is neither overbought nor oversold, leaving room for further upward movement. The gradient of the line indicates an increase in buying pressure as investors turn bullish.
Source: TradingView
Meanwhile, Bollinger Bands (BB) suggest that SOL is testing its upper band at $146.28, a crucial resistance level. A breakout above this could push SOL toward the $175–$200 range in the coming weeks.
It is important to note that Trump even launched his very own meme token called the Official Trump TRUMP $8.74 24h volatility: 2.2% Market cap: $1.75 B Vol. 24h: $373.43 M token which currently trades at $11.89 with a market cap of $2.37 billion. The budding meme coin and stablecoin ecosystems on Solana could hold the key for further increase.
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