- Solana ETF Launch: The first Solana ETF (SSK) has launched in the US, attracting $12 million in inflows and marking a major step toward mainstream crypto adoption.
- SOL Price Recovery: Solana’s price has reclaimed the $140 level, with bullish technical indicators suggesting a potential rally to $185.
- Ecosystem Growth: Meme coins and top DeFi apps on Solana are fueling its network activity, strengthening its case as a leading blockchain for tokenized real-world assets (RWAs).
- Market Outlook: Technical analysis supports a bullish scenario, especially if SOL breaks above the 200-day EMA.
Solana (SOL) has surged above the $140 mark following the launch of its first US-based exchange-traded fund (ETF), the REX-Osprey Solana Staking ETF (SSK). After just two days of trading, the ETF has attracted $12 million in capital inflows, sparking optimism among retail and institutional investors.
Also Read: Solana Price Prediction: Why SOL is Crashing and What’s Next for This Crypto Giant
Solana ETF Adds New Catalyst for Growth
Although the SSK ETF’s trading volume remains small compared to Solana’s spot market activity, the fund represents a significant milestone for crypto adoption. More importantly, the ETF incorporates staking rewards—currently ranging from 6% to 8%—which are added to the ETF’s net asset value (NAV), enhancing potential investor returns during market upswings and softening losses during downturns.
Also Read: Solana Soars: Staking ETF Fuels Rally, Targeting $170 Next
Solana’s Expanding Ecosystem Drives Bullish Momentum
Beyond the ETF news, Solana’s ecosystem continues to thrive. Meme coins like Official Trump (TRUMP) and Melania (MELANIA) have showcased Solana’s ability to handle large transaction volumes efficiently. According to DeFi Llama, the network now hosts over $10.8 billion worth of meme coins.
Moreover, decentralized finance (DeFi) protocols like Raydium, Pump.fun, Jupiter, Save, and Jito are experiencing rapid growth, offering services from lending and asset trading to token minting and staking.
Can Solana Retest $185?
Technical indicators are flashing bullish signals for SOL:
- SOL has reclaimed the critical $140 support level, historically a springboard for price rallies.
- The 9-day and 21-day EMAs are on the verge of forming a golden cross, typically a strong buy signal.
- The Relative Strength Index (RSI) sits at 52, suggesting positive momentum.
- The 200-day EMA remains the key resistance level to watch. A break above it could confirm the next leg higher.
With Middle East tensions easing and market sentiment improving, Solana could retest its previous highs near $185 in the coming sessions. However, cautious traders may wait for a confirmed break above the 200-day EMA before entering fresh long positions.
The combination of ETF-driven inflows, growing DeFi activity, and improving technicals paints a bullish picture for Solana. If current momentum holds, SOL could soon revisit the $185 mark, further cementing its role as a leading blockchain for real-world asset tokenization.
