The crypto market is buzzing with anticipation as Solana (SOL) emerges as a top contender for the next major exchange-traded fund (ETF) approval. With institutional interest surging and technical indicators flashing bullish signals, traders are closely watching for a potential breakout toward $187 before the end of June. At the heart of this momentum is growing confidence in a spot Solana ETF, increasing decentralized exchange (DEX) activity, and strong price action that suggests a major move could be imminent.
Rising Odds of a Spot Solana ETF Approval
Market sentiment around a potential Solana ETF has reached fever pitch. According to Polymarket, the probability of approval now stands at 92%, an 18 percentage point jump in just days. This surge reflects heightened institutional confidence and growing expectations that regulators may soon greenlight a spot Solana ETF in 2025.
Several major financial firms have already submitted formal applications, including Invesco Galaxy, VanEck, 21Shares, and Bitwise—all established players in the traditional asset management space. Their involvement signals that Solana is no longer seen as just another altcoin but as a mature blockchain with real-world utility and long-term investment potential.
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Adding fuel to the fire, Anthony Scaramucci, founder of SkyBridge Capital, recently hinted on social media that a decision could be near. More notably, he suggested that such an ETF might include staking functionality—a groundbreaking feature that would set it apart from existing Bitcoin and Ethereum ETFs, which currently offer no yield mechanisms.
Staking-enabled ETFs could attract both retail and institutional investors seeking passive income, much like dividend-paying stocks. This innovation would align crypto products more closely with traditional finance while enhancing investor returns—a compelling proposition in today’s yield-hungry markets.
Strong Network Activity Fuels Investor Confidence
Beyond regulatory developments, Solana’s underlying ecosystem is demonstrating robust growth. Recent data from DeFiLlama reveals that Solana recorded **$64 billion in DEX trading volume** over the past 30 days—surpassing Ethereum’s $61 billion during the same period. Only BNB Chain remains ahead in total volume.
This surge in decentralized trading activity underscores increasing adoption across developers, traders, and yield seekers. High DEX volumes typically correlate with rising user engagement, improved liquidity, and stronger network security—all positive signs for long-term price sustainability.
Solana’s high-speed architecture and low transaction fees continue to drive its appeal. These technical advantages allow for seamless user experiences, making it a preferred platform for DeFi protocols, NFT marketplaces, and Web3 applications. As more projects launch or migrate to Solana, its ecosystem becomes increasingly resilient and competitive against larger blockchains like Ethereum.
Such organic growth strengthens the fundamental case for Solana’s valuation and makes a compelling argument for inclusion in regulated financial products like ETFs.
Key Technical Levels to Watch for SOL/USD
From a price perspective, Solana is showing promising signs of recovery. After finding support near $128**, SOL has been forming a series of higher lows, indicating strengthening buyer conviction. Currently trading around **$140, the asset is testing resistance near $152, with a decisive breakout likely needed to confirm a sustained bullish reversal.
Technical indicators support this optimistic outlook:
- The MACD has posted a bullish crossover above the zero line, signaling accelerating upward momentum.
- The Awesome Oscillator (AO) remains solidly in positive territory, with green bars expanding—another sign of bullish strength.
- Meanwhile, the RSI sits at 43, suggesting the rally is still in its early stages and not yet overbought. A move above 50 RSI could act as a confirmation signal, drawing in additional momentum buyers.
For the uptrend to gain full traction, SOL must close above $152 on strong volume. The next key resistance zone lies between **$159 and $162**, coinciding with the 50-day Simple Moving Average (SMA). A successful breach here could open the door to a rally toward **$170, with the ultimate target set at $187** before June concludes.
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Frequently Asked Questions (FAQ)
Q: What is driving the increased likelihood of a Solana ETF approval?
A: Growing institutional filings from major asset managers, combined with rising market sentiment reflected in prediction markets like Polymarket, are key drivers. Additionally, potential staking integration adds unique value that regulators may view favorably.
Q: How does Solana’s DEX volume compare to Ethereum’s?
A: Over the past 30 days, Solana recorded $64 billion in DEX volume, slightly exceeding Ethereum’s $61 billion. This highlights strong user adoption and competitive advantages in speed and cost-efficiency.
Q: Why is staking functionality important for a Solana ETF?
A: Staking would allow investors to earn passive rewards directly through the ETF, differentiating it from current Bitcoin and Ethereum ETFs. This feature could significantly boost investor appeal and fund inflows.
Q: What are the critical price levels traders should monitor?
A: Immediate resistance is at $152. A confirmed breakout above this level, especially with high volume, could lead to a test of $159–$162. Clearing those levels may pave the way toward $170 and eventually $187.
Q: Is Solana technically bullish or bearish right now?
A: The technical picture is turning increasingly bullish. Higher lows, positive MACD and AO readings, and improving volume dynamics suggest buyers are regaining control after recent corrections.
Q: Can Solana reach $187 before June ends?
A: While not guaranteed, the confluence of strong fundamentals, rising ETF expectations, and favorable technicals makes it a plausible scenario if momentum holds and broader market conditions remain supportive.
With regulatory momentum building, network activity thriving, and technical indicators aligning, Solana is positioning itself for a pivotal moment in its price trajectory. Whether through ETF approval or organic adoption, the blockchain continues to prove its staying power in the evolving digital asset landscape.
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