Crypto
Solana Breaks Resistance as ZETA Token Migration Boosts Price
Solana's price has risen by over 5% in the past 24 hours to trade near $113.85, surpassing a key resistance level of $110 and gaining more than 10% in the past week.
The latest surge is attributed to the migration of the ZETA token from ZetaChain to Solana, which has brought a new project onto the network at a time when momentum for SOL is already accelerating. According to CoinGecko, this token migration is a significant driver behind the current rally.
Institutional inflows have continued to expand, lending further support to Solana's climb. Exchange-traded funds focused on Solana have now recorded 12 consecutive weeks of inflows, with Bitwise's Solana Staking ETF recently surpassing $1 billion in assets under management.