- Solana’s price has risen 5.66% in 24 hours, reaching $138.09.
- $22 million in weekly ETF inflows for Solana show growing institutional interest.
- Solana blockchain earned $3.6 million in application revenue in just 24 hours
Solana ($SOL) is currently showing bullish signs, supported by strong institutional demand for Solana-based ETFs. After a slight dip earlier in the day, Solana has risen by 5.66%, reaching $138.09 at press time.
Solana Price Outlook: Crypto Tony Predicts Bullish Movement
Crypto Tony’s recent chart analysis on Solana ($SOL) suggests that the cryptocurrency may be on the verge of a bullish breakout. According to the analysis, Solana’s price could either have already reached its bottom or is set to hit a minimum target of $146 in the coming days.
This optimistic view is based on the structure of recent price movements, which indicate a corrective wave (a) followed by a potential impulsive wave (b), signaling a strong upward trend.
The bullish outlook aligns with the recent price increase, which saw Solana rise 5.66% in the last 24 hours, reaching $138.09. These price movements support the theory that Solana is positioned for further growth, with strong technical indicators suggesting the possibility of more upward momentum in the near future.
Strong Institutional Demand Drives Solana ETF Inflows
Solana’s growing popularity is also being reflected in the strong institutional demand for Solana-based exchange-traded funds (ETFs). Since the launch of Solana ETFs in October, there has been a noticeable surge in investor interest.
Just yesterday, Solana ETFs recorded $16.6 million in inflows, and total weekly inflows reached $22 million, surpassing the previous week’s $20 million.
This growing interest is a clear indicator of the increasing institutional adoption of Solana. The cumulative net inflows into Solana ETFs now stand at $661 million, with total net assets reaching $950 million.
This rapid growth highlights how traditional investors are seeking easier access to Solana exposure through regulated investment vehicles. Additionally, Invesco Galaxy is preparing to launch its own Solana ETF, which could further contribute to increasing investor participation in the ecosystem.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
