Solana News Today: Solana Surges 9.681% Amid ETF Hype and Axiom's $200M Milestone

Solana (SOL) has surged past $200, marking a 22.59% gain over the past week and a 9.681% increase within the last 24 hours. The price breakout reflects strong institutional interest and growing speculation around potential exchange-traded fund (ETF) approvals, reinforcing Solana’s position as a leading player in the crypto market. Axiom Exchange, a Solana-based trading bot, reached $200 million in cumulative revenue within 73 days—following a $100 million milestone in just 129 days—highlighting the rapid adoption and scalability of the Solana network [1].

Institutional investors are also accumulating Solana, with firms such as Upexi and Bit Mining collectively holding over 3.5 million SOL. Upexi, which holds $316 million in SOL, announced the formation of a Solana-focused advisory committee, further boosting the platform’s credibility and fostering strategic DeFi partnerships. This mirrors MicroStrategy’s Bitcoin investment strategy, positioning Solana as a viable long-term asset for corporations [1].

The market response has been equally strong, with Solana’s market cap surpassing $108 billion. Analysts and traders are optimistic, with predictions suggesting a 90% chance of ETF approval. If realized, this could significantly enhance liquidity and institutional participation, potentially driving the price even higher. The regulatory environment is also shifting in favor of Solana, with the U.S. Securities and Exchange Commission recently approving Liquid Staking Tokens (LSTs) linked to the blockchain. Meanwhile, OSL HK became the first Hong Kong-based exchange to offer retail trading of SOL, expanding its accessibility and investor base [1].

Technological advancements are also contributing to Solana’s momentum. Anza, a key contributor to the Solana ecosystem, is developing p-tokens, which promise to improve transaction efficiency by up to 19 times. These optimizations are expected to reduce computational resource usage and network bloat, enabling more transactions per block. The implementation of p-tokens is currently undergoing security audits and is projected to be submitted as a governance proposal in the coming months [1].

Despite the positive developments, Solana is not without volatility. A $35 million unstaking event from an Alameda Research account has sparked speculation, as the funds were originally staked in late 2020 with a value of $350,000—a 100x return. While the move does not necessarily signal an immediate sell-off, it could influence short-term price dynamics. Additionally, over 226,000 SOL ($40 million) has been moved to exchanges, with Galaxy Digital transferring 224,000 SOL in recent days. These large whale movements raise concerns about near-term price instability [1].

Nevertheless, the long-term outlook for Solana remains strong. Weekly growth of 8% has pushed the total market valuation of Solana above $250 billion. The platform’s expanding utility, combined with regulatory and infrastructure progress, positions it well for continued appreciation in the coming months. With institutional adoption rising and technological innovation advancing, Solana’s role in the evolving crypto landscape appears firmly established [1].

Source: [1] Solana Surges 9.681% as Axiom Exchange Hits $200M Revenue Milestone (https://www.ainvest.com/news/solana-surges-9-681-axiom-exchange-hits-200m-revenue-milestone-2508/)