Starting from Friday at 4 p.m., the value of Solana (SOL) has increased by almost 10%. As I type this at 11:09 a.m. ET today, the surge continues. Although there’s no clear cause for this spike, several possible factors might be influencing it.
Institutional interest picking up
Over the past week, the U.S. House of Representatives supported three bills concerning cryptocurrency that investors find optimistic for the industry as a whole. Two of these bills aim to establish guidelines for stablecoins and digital assets. Notably, President Donald Trump has already signed into law one of these bills, known as the Genius Act, which pertains to stablecoins, following its approval by both the House and Senate.
It has additionally been observed that there’s an increasing enthusiasm for Solana from institutional investors. Based on data from CoinShares’ digital fund flows, approximately $39 million was invested in financial products tied to Solana last week. Moreover, CoinShares predicts that the total inflows for this year amount to a substantial $245 million.
Additionally, it appears that seven requests for a Solana-based exchange-traded fund (ETF) focusing on cryptocurrency spots have been submitted. Historically, crypto spot ETFs have boosted liquidity in tokens and have shown to be positive indicators. Given the current circumstances, there’s a strong likelihood that the Securities and Exchange Commission (SEC) will give the green light to a Solana spot ETF before 2021 draws to a close.
A token to watch
Among the cryptocurrencies with significant growth prospects, Solana stands out. Its network boasts impressive technical capabilities, theoretically enabling it to handle tens of thousands of transactions each second. However, translating this ability into a price prediction is challenging at present. Therefore, I suggest maintaining your positions modestly and adopting a more speculative approach for now.
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2025-07-21 19:19