Solana News Today: Solana ETFs Fuel $180 Push as DApps Outpace Ethereum, Bearish Signals Loom

Solana's SOL price has surged toward $180 amid a surge in decentralized application (DApp) revenue and record inflows into Solana-focused exchange-traded funds (ETFs), even as broader market volatility and technical indicators hint at potential near-term corrections. The blockchain's performance has outpaced Ethereum in key metrics, with apps on Solana generating $4.33 million in 24-hour revenue compared to Ethereum's $1.82 million, according to DeFiLlama data. This shift underscores growing institutional and retail interest in Solana's ecosystem, despite a 29% price drop for SOL over the past month.

The recent momentum is partly driven by a $369 million inflow into Solana ETFs since their late-October launch, with Bitwise's BSOL fund leading the charge with $545 million in cumulative inflows, including $223 million in seed investments. Grayscale's GSOL ETF added $114 million, though inflows have slowed from their peak of $70 million on November 3 to $6.78 million on November 10. Analysts attribute the sustained demand to Solana's $90 billion market cap and its reputation for low-cost, high-speed transactions, which have attracted developers and users alike.

However, technical indicators suggest caution. The Solana price chart shows a breakdown from an ascending wedge pattern, pushing the token from $180 to $144 in early November. Metrics like the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Awesome Oscillator (AO) remain bearish, with the RSI near 40 and AO at –21. A retest of $120 or even a drop to $80 by December is possible if critical support levels fail, experts warn.

Meanwhile, Solana's DApp and decentralized exchange (DEX) volume has surged, with a $3.86 billion in 24-hour trading volume surpassing BSC's $3.58 billion and Ethereum's $2.71 billion. Platforms like Pump.fun, Axiom Pro, and Jupiter have driven this growth, proving the chain's real-world utility. This revenue spike could eventually boost staking yields and validator earnings, potentially fueling a price rebound according to technical analysis.

The ETF landscape remains mixed. While Solana funds outperformed Bitcoin and Ethereum counterparts - spot Bitcoin ETFs shed $2.1 billion in assets since October - Solana's rally coincides with broader market uncertainty tied to macroeconomic factors and a U.S. government shutdown. VanEck's recent filing for a Solana spot ETF has further stoked optimism, though the token faces resistance at $160 before reaching $180.

In a separate development, SoFi became the first nationally chartered bank to integrate crypto services into its app, allowing users to trade Solana alongside traditional banking tools. The move reflects a broader push by financial institutions to blend crypto with conventional finance, a trend likely to shape the asset class's adoption in 2025.