Solana News Today: Solana Surges 35% on ETF Optimism and $22M Institutional Buy

Solana (SOL) surged over 35% in the past week, reaching a peak of $214 before settling at $188 as of Wednesday, according to CoinGecko. The rally was partly driven by a $22 million purchase of 110,000 SOL by DeFi Development Corp., pushing the firm’s total holdings to 1.42 million SOL, valued at $273 million. A large portion of these tokens has been staked to validators for yield generation, signaling growing institutional confidence in the asset [1].

The buzz around potential exchange-traded fund (ETF) approvals is also boosting investor attention. Although the U.S. Securities and Exchange Commission (SEC) has delayed its decision on Solana ETF applications from Bitwise and 21Shares to October, pending applications from Grayscale, Fidelity, and ProShares continue to fuel speculation. Despite the delay, increased institutional activity like DeFi Development Corp.’s accumulation has solidified Solana’s position as one of the top crypto assets to watch for long-term blockchain adoption and staking utility [1].

Meanwhile, XRP has been highlighted for its potential ETF-driven upside. Currently trading around $3.11, XRP could see a dramatic price increase if a spot ETF is approved, according to analyst Kenny Nguyen, who projects potential price levels between $22 and $50. Models from Canary Capital and other sources suggest that initial ETF inflows could exceed $5 billion in the first month, potentially pushing the asset’s market capitalization toward $1.5 trillion [1]. Unlike Ethereum, XRP offers no staking rewards, eliminating the opportunity cost for ETF investors. With multiple asset managers awaiting SEC decisions, Bloomberg analysts estimate a 95% chance of approval. Historical patterns from Bitcoin’s ETF launch suggest that such a development could attract significant institutional demand [1].

MAGACOIN FINANCE is also gaining traction as its presale accelerates toward sellout. Market observers note that early allocations are being claimed rapidly, and many are considering it among the top crypto assets to buy now, particularly for those seeking entry before potential price discovery on exchanges [1]. While no specific price projections have been made for MAGACOIN FINANCE, the asset is being evaluated in a market environment increasingly favorable to alternative cryptocurrencies, driven by the same ETF optimism that has lifted Solana and XRP [1].

Collectively, Solana’s ETF discussions, XRP’s high-conviction ETF projections, and MAGACOIN FINANCE’s fast-moving presale have placed these assets firmly on market watchlists. As October ETF decisions approach, early positioning could prove critical for investors tracking the best crypto to buy now [1].

Source:

[1] "Solana Jumps 35% on ETF Buzz — Can XRP & MAGACOIN FINANCE Reach New All-Time Highs?" (https://coinmarketcap.com/community/articles/68ab5fd22797d44bf6196756/)

[2] "Will XRP and MAGACOIN FINANCE Break New Highs?" (https://crypto-economy.com/solana-jumps-35-on-etf-buzz-can-xrp-magacoin-finance-reach-new-all-time-highs/)

[3] "Ripple Moves Big Money, RLUSD Sees Distribution, XRP..." (https://blockchair.com/de/news/ripple-moves-big-money-rlusd-sees-distribution-xrp-holds-key-2-support--63ac17fda26f0ac4)

[4] "3CQS Crypto Screener" (https://www.3cqs.com/crypto-screener/)

[5] "(영)코인 종합" (https://www.quantumbot.co/english-news/)