Solana Poised for Price Surge Amid Growing ETF Demand
Solana (SOL) trades around $193, still above its 2024 low. The coin could hit its all-time high this year. Recent inflows into a Solana ETF suggest strong investor interest.
The REX-Osprey SOL + Staking ETF (SSK) saw inflows totaling $25.8 million last week. This is much higher than the previous week’s $3.5 million. SSK has grown for seven straight weeks. It now holds $183 million in assets.
The success of SSK reflects strong U.S. investor demand. This ETF lets investors profit from Solana’s price changes and staking rewards. Staking yields on Solana have reached 7.52%, according to StakingRewards.
On-chain activity for Solana is also improving. Stablecoin supply has risen 6.2% to $11.6 billion. Transaction volume climbed by 6%, surpassing $186 billion. Monthly transactions increased by 31% to 2.44 billion. Active addresses now exceed 90 million.
Technically, Solana looks bullish. It has shown a strong uptrend since April.A golden cross pattern suggests further price gains. The token might soon reach its next target of $210. Beyond that, the all-time high of $295 becomes possible.
