Crypto
Solana Price Soars Past $110 as Institutional Demand Surges
Solana's price surged past $110 on TradingView, marking its highest level since January 31. The token has been on a tear, up 19.8% over the past week and roughly 80% from its June low.
The record ETF inflows are signaling institutional demand for Solana. The Bitwise Solana Staking ETF BSOLUSD posted its highest single-day trading volume ever, surpassing $126 million, while total net ETF inflows now stand near $1.26 billion, about 2.2% of SOL's market cap.
Leverage is driving the move, with futures volume reaching $14.6 billion against just $1.7 billion in spot volume. Validators are currently voting on proposals that could alter Solana's supply dynamics, which could significantly impact the token's price if both measures pass.