Solana’s Surging Price Points to Continued Upward trend
Solana’s (SOL) price reached $255 this Thursday, setting a new high sence January. With a notable 163% increase from its April low, SOL’s future looks bright.
A major factor is the fast-approaching ETF approval deadlines. The SEC is set to rule on grayscale’sSolana Trust by October 10, and other funds by October 16. Odds favor approval, as per Polymarket data.
If approved,the influx of investor dollars could be substantial. The Solana Staking ETF, for instance, has amassed over $289 million since launch.
The Alpenglow upgrade is another critical driver.It introduces proof-of-stake and boosts transaction throughput. Finality times drop to mere milliseconds and transactions per second could hit 107,000.
Solana already leads in transactions, at 1.9 billion over the last month. It’s rapidly catching up to Nasdaq in daily trade settlements too.
- Solana handles more transactions than Ethereum,Sui,Cardano,and Polygon.
- Companies are piling into SOL treasuries, amassing over $3 billion worth.
The staking feature earns these firms an annual return of around 8%, distinguishing them from customary Bitcoin holders.
Technical analysis supports further gains. SOL maintains its position above key moving averages, with growing Average true Range signaling momentum. The relative strength index and MACD both indicate positive trends, suggesting SOL could reach new highs near $300.
