Solana Soars: 9% Weekly Gain Puts Token on the Radar

Solana's native token is experiencing a significant surge in price, outperforming other top cryptocurrencies on a weekly scale. Currently, SOL is trading at around $103, representing a 9% increase over the past week, according to CoinGecko.

This marks the highest close for Solana in the last seven months, with some analysts predicting further growth. Ash Crypto noted that the asset's previous week ended at roughly $102.80, adding that this is 'bullish' for Solana holders.

The growing institutional appetite for Solana is another major achievement for the token. Data from SoSoValue shows that spot SOL ETFs have experienced nine consecutive green days, the longest streak since May this year. Well-known entities such as Bitwise, Fidelity, Grayscale, VanEck, Franklin Templeton, and others are offering financial products tied to Solana.

Carl Hawley predicts that if momentum holds, $120 could be the next important level to watch in the coming weeks. Meanwhile, The Black Bull envisions a 'massive pump' for the asset, considering it a $1,000 token trading at $102.