Solana Price Surges 100%, ETF Inflows Soar Ahead of Alpenglow Upgrade
Solana's price has seen a significant recovery in recent months, and experts believe it may continue to rise due to increased ETF and staking inflows ahead of the highly anticipated Alpenglow upgrade.
The SOL token has jumped by 100% from its lowest level this year, reaching $121.60. This rally is mirrored in Bitcoin's and Near Protocol's price increases, which have also seen double-digit gains from their lowest levels this year.
ETF inflows for Solana have been substantial, with over $271 million added in September alone, bringing the total to $1.9 billion. Bitwise's BSOL ETF leads the charge with over $1.32 billion in assets, followed by Fidelity's FSOL, Grayscale's GSOL, and Morgan Stanley's MSOL.
The staking ratio for Solana has also increased, reaching 70% as investors take advantage of the 5% reward rate. This is significant because investors who stake their coins tend to hold them for a longer period, indicating potential long-term growth.