29-6-2025 – Solana has once again captured the spotlight in the cryptocurrency arena, with its native token, SOL, surging by 7% in a single day to breach the $151 mark, propelling its market capitalisation beyond $80 billion. This spirited rally, undeterred by a slight dip in trading volume over the past 24 hours, reflects a burgeoning confidence in Solana’s potential as a cornerstone of the digital asset landscape.
The blockchain, celebrated for its lightning-fast transactions and minimal fees, continues to draw developers and investors alike, cementing its reputation as a formidable player in the crypto ecosystem. Fuelled by whispers of an impending Solana exchange-traded fund (ETF), the recent price surge has been amplified by a tweet from Anthony Scaramucci, the influential founder of SkyBridge Capital.
His cryptic remark hinted at the imminent approval of a Solana ETF, with the tantalising prospect of staking rewards integrated into the product. This suggestion ignited a frenzy of speculation within the crypto community, driving a swift uptick in SOL’s value from its earlier trading range around $140. The notion of staking—where token holders earn rewards by supporting the network’s security—adds a unique allure, potentially offering traditional investors a pathway to passive income, a feature that distinguishes Solana from many of its blockchain peers.
The prospect of a Solana ETF marks a pivotal moment, positioning the cryptocurrency alongside Bitcoin and Ethereum, both of which have already secured ETF approvals in the United States. Such a development could herald a new era of mainstream adoption, drawing institutional interest to Solana’s high-speed, low-cost infrastructure. Recent filings, including one from Rex Shares for a Solana ETF with staking capabilities, underscore the industry’s belief in the network’s robust growth trajectory.
With over 534 million SOL tokens in circulation, Solana’s ecosystem continues to thrive, defying previous market challenges. Market analysts note that Solana’s rising prominence is outpacing competitors like XRP, with the latter’s odds of securing a spot ETF now estimated at 75%. The price chart reflects this momentum, as SOL shattered multiple resistance levels throughout the day, buoyed by growing investor enthusiasm for projects with tangible utility and strong community support.
