Solana ETF Gains Traction as Token Seeks All-Time High
solana (SOL) hovers near $193, spurred by robust demand for its new staking ETF. While down from its recent $210 peak, SOL boasts over double its 2024 lows.
The REX-osprey SOL + Staking ETF, or SSK, attracted over $25.8 million in inflows last week, up from $3.5 million previously. For seven straight weeks, the ETF has seen continuous inflows totaling $164 million. Now holding $183 million in assets, SSK stands among the top altcoin ETFs.
- SSK ETF inflows signal strong U.S. investor interest in Solana.
- Experts predict increased demand for spot SOL ETFs once SEC approvals occur later this year.
- SSK distinguishes itself by offering exposure to both Solana’s price movements and staking rewards.
Staking yields for solana have surged to 7.52%, as per StakingRewards data. Additionally, the Solana network thrives. Stablecoin supply increased 6.2% to surpass $11.6 billion within a month. Monthly transactions grew 31% to reach 2.44 billion.
On the technical front, SOL’s price chart reveals a strong uptrend as April, climbing from $95.42. With the formation of a golden cross pattern, SOL is poised for further gains.Analysts forecast a potential surge towards its all-time high of $295.
