Solana Surges 2% on ETF Approval Hopes Arbitrum Climbs 18% on Robinhood Partnership Speculation Sei Breaks 7-Month Downtrend with 28% Weekly Gain

Solana (SOL) has seen a significant surge in interest today, driven by hopes of ETF approval and strong institutional backing. The token rallied past the $151 mark, gaining nearly 2% in the past 24 hours. This momentum is largely attributed to the impending decision by the SEC on the Grayscale Digital Large Cap ETF (GDLC), which includes SOL among its holdings. The approval of GDLC could signify broader institutional acceptance of a basket of crypto assets and pave the way for future spot ETFs focusing on individual altcoins like Solana. According to Nate Geraci, president of The ETF Store, there is a high likelihood that the GDLC will be approved, which could come as early as this week. Additionally, Polymarket indicates a 91% chance of approval for a spot Solana ETF in the United States in 2025.

Arbitrum (ARB) has emerged as today’s top-performing altcoin, climbing more than 18% and boasting a staggering increase in trading volume. The surge is fueled by speculation surrounding a potential partnership with Robinhood. The rumors gained traction when Robinhood teased a fireside chat scheduled for June 30 featuring Ethereum’s Vitalik Buterin and Offchain Labs’ A.J. Warner, which traders interpret as a clear signal of collaboration. This narrative is further supported by a May report that named Arbitrum as a possible infrastructure provider for Robinhood’s planned European tokenized stock platform. Additionally, Gemini’s launch of tokenized MicroStrategy stock trading via Arbitrum reinforces the network’s growing foothold in real-world asset (RWA) integration.

Sei (SEI) has broken out of a long-term downtrend, posting a nearly 2% daily gain and trading around $0.2999 after hitting a high of $0.3123. This price movement follows a breakout from a 7-month descending channel on June 28, marking a 28% weekly gain. The token’s strength is a result of a robust technical structure, with the MACD showing a bullish crossover and the RSI at 70.63, indicative of strong momentum but not yet in dangerously overbought territory. Regulatory validation has also played a pivotal role in SEI’s rise. The Wyoming Stable Token Commission awarded the Sei blockchain a perfect 30/30 evaluation score, outperforming even Ethereum and Solana. Additionally, Sei’s Total Value Locked (TVL) is approaching $1 billion, while monthly DEX volume surged by 200% to reach $327 million daily.