SOL Seeks $100 Breakout as Governance Vote Opens and Institutional Demand Surges

Solana's SOL token is approaching a critical resistance level near $100 as on-chain governance voting begins and spot Solana ETF inflows resume, signaling renewed institutional interest.

The governance vote comes at a time when network activity remains elevated, with daily active addresses and transaction volumes consistently above historical averages. The governance process allows SOL holders to participate in protocol decisions, which often boosts community engagement and can influence market sentiment.

Spot Solana ETFs have recorded net inflows for the past three consecutive trading days, according to data from multiple asset managers. This follows a period of outflows in late February. The renewed inflows suggest growing institutional appetite for SOL exposure, especially as the broader crypto market stabilizes.