Solana News Today: Solana Gains 35% on ETF Speculation and Ecosystem Surge

Solana (SOL) is attracting renewed attention as speculation around a potential spot ETF continues to fuel bullish sentiment in the crypto market. While no formal application has yet been announced, industry analysts suggest that an ETF backed by Solana could be on the horizon, following a similar path taken by Bitcoin and Ethereum [1]. The anticipation alone has already sparked a 35% surge in SOL, with some observers drawing parallels to past ETF-driven rallies in the market [7].

Underlying the speculation is a rapidly expanding Solana ecosystem. Real-world asset (RWA) adoption has surged, with the number of RWA holders on the network increasing by 1,281% year-to-date to nearly 63,000 participants [2]. The total value of RWA on Solana has also risen by 176% to $479 million, indicating growing institutional and developer interest in tokenizing traditional assets on the blockchain [2]. These developments reinforce Solana’s position as a key player in the broader crypto landscape, competing with Ethereum and attracting a diverse range of financial applications.

Network activity has also shown consistent growth. In July alone, stablecoin transfers on Solana reached $215 billion, with a 53% increase compared to the previous month. USDC usage and peer-to-peer (P2P) transactions saw significant gains, rising by 63% [5]. The rise in transaction volume reflects Solana’s appeal as a high-throughput, low-cost platform for global financial activity.

From a technical perspective, Solana appears to be forming a cup-and-handle pattern—a bullish chart formation that could signal a near-term breakout. If the pattern completes as expected, it may propel the price to new levels beyond its January 2025 high of $235 [3]. Over the past 30 days, SOL has already gained 35%, driven by a combination of on-chain momentum and macroeconomic tailwinds [7].

Market performance has also outpaced many of its peers. Solana has gained 26% in the past month, outperforming most top cryptocurrencies under $1 and those with larger market capitalizations [4]. Analysts attribute this strength to a mix of technical indicators and speculative interest, particularly around the possibility of a Solana ETF.

However, while the signs are encouraging, the potential for a new all-time high in 2025 remains speculative. The crypto market is inherently volatile, and factors such as regulatory decisions or macroeconomic shifts can quickly alter the trajectory of any asset [1]. Investors are urged to approach these forecasts with caution and monitor key developments closely.

Sources:

[1] Crypto News Today: Prices & Updates (https://blockchainreporter.net/news/)

[2] 1 Reason to Buy Solana (SOL) (https://www.mitrade.com/insights/news/live-news/article-8-1007880-20250803)

[3] Solana Brewing Cup-And-Handle Pattern Suggests Drop ... (https://www.mitrade.com/insights/news/live-news/article-3-1007921-20250803)

[4] This Best Crypto Presale Just Raced Past Softcap (https://coincentral.com/this-best-crypto-presale-just-raced-past-softcap-early-buyers-say-it-feels-like-catching-bnb-and-sol-below-10/)

[5] SolanaFloor: Solana News and Insights on DeFi and NFTs (https://solanafloor.com/)

[7] Solana Price Prediction: SOL Could be Ready to Move to $225 After Breakout (https://cryptodnes.bg/en/tag/snorter/)