Solana Attracts $245 Million as Altcoin Bulls Eye Fresh Rally
Main Idea
Solana (SOL) is attracting significant institutional investment and bullish sentiment, with analysts predicting potential price increases and highlighting key developments like staked ETFs and DeFi growth.
Key Points
1. Solana recorded $245 million in institutional inflows this year, up from $39.1 million, bringing cumulative holdings to $1.8 billion.
2. Staked SOL ETF inflows surpassed $175 million, boosting institutional confidence, while spot SOL ETFs are gaining momentum.
3. Polymarket odds for SEC approval of a spot SOL ETF are above 90%, reflecting positive market sentiment.
4. Solana's DeFi activity has surged in the last three months, contributing to a bullish price outlook.
5. Analysts suggest SOL could reach $260 if it consolidates above $200, with $175–$180 as a potential retest zone.
Description
Solana (SOL) bulls are shifting gears as analysts anticipate increased price action in the coming months. While Bitcoin (BTC) and Ethereum (ETH) dominate institutional data, Solana traders are recording fair gains compared to previous cycles. At the time of writing, the SOL price stands at $199, representing a slight 1.7% gain over the last 24
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