Solana Holds Near Highs As ETF Bets Mount And Liquidity Stays Strong
Solana (CRYPTO: SOL) is holding steady near recent highs on Tuesday as ETF speculation continues to drive bullish sentiment across the altcoin market. The coin is trading at $131.71, down just 0.1% on the day, after gaining nearly 19% over the last week. Over the past month, SOL is up 2.68%.
ETF Approval Odds Fuel Bullish Momentum
Following a sharp rally last week, traders are keeping a close eye on the odds of a spot Solana ETF receiving approval in the U.S.
On prediction platform Polymarket, the probability of a Solana ETF being greenlit by the end of 2025 currently stands at 82%—a jump from 65% in early January. The shift in sentiment follows the appointment of former SEC Commissioner Paul Atkins as chair of the agency. Atkins is widely viewed as crypto-friendly and has already spurred a new wave of filings for altcoin-focused ETFs.
According to Cointelegraph, asset managers including Grayscale, VanEck, Bitwise, 21Shares and Canary Capital have all submitted applications for Solana-based ETFs. The increasing number of filings has helped fuel a rebound in SOL, which had fallen below $100 earlier this month before sharply recovering.
Liquidity and Market Depth Bolster Case for Solana
Recent data from Kaiko points to …
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