Key Takeaways:
- Solana (SOL) surged 7.8% in 24 hours, with trading volume doubling to $4.53 billion amid rising ETF optimism and the launch of Bybit’s Solana-based DEX, Byreal.
- Analysts predict a breakout above $187 could propel SOL toward its all-time high of $263, with potential for $400–$500 if a Solana ETF is approved.
Solana (SOL) is making headlines again after surging 7.83% in the past 24 hours, defying the broader crypto market’s consolidation. Trading at around $156.30, the Layer 1 token is drawing fresh bullish sentiment as daily trading volumes more than doubled to $4.53 billion — a 100% spike that indicates growing investor enthusiasm.
This renewed momentum comes on the heels of two major developments: optimism surrounding a potential Solana ETF and the launch of Byreal, a new Solana-based decentralized exchange by crypto giant Bybit. Together, these catalysts have injected fresh liquidity and speculation into SOL markets.
Trading Activity Suggests Breakout in the Making
According to CoinGlass, Solana’s futures open interest has climbed 10.27% in the last 24 hours, reaching nearly $7 billion — signaling heightened speculative activity. Meanwhile, over $14 million in SOL futures positions were liquidated, with $11 million in short liquidations alone. This short squeeze likely fueled much of the day’s upward price action, reinforcing bullish sentiment.
Technically, SOL has been range-bound between $140 and $185 for several weeks. However, analysts suggest this period of consolidation might be setting the stage for a major breakout.
Old Hawk Forecasts $263 — or Higher
Prominent crypto analyst Old Hawk outlined a bullish trajectory for Solana, suggesting that a breakout above $187 would clear the path to test its all-time high of $263. “If $263 is breached, we could easily enter price discovery,” the analyst posted on X (formerly Twitter), indicating potential for explosive gains.
$SOL needs to break above $187 — if that happens, there’s no major resistance until $263 📈
— OldHawk (@oldhawksol) June 15, 2025
After that, we could easily enter price discovery 🚀
If a Solana ETF gets approved, we might even see $400–$500 by year’s end 💰 pic.twitter.com/zwzodHRcIQ
Old Hawk further noted that if a Solana ETF is approved, the price could skyrocket to the $400–$500 range by the end of 2025.
“$SOL needs to break above $187 — if that happens, there’s no major resistance until $263. After that, we could easily enter price discovery. If a Solana ETF gets approved, we might even see $400–$500 by year’s end,” he stated.
Solana ETF Odds Now at 90%
Fueling this optimism is the rising likelihood of a spot Solana ETF approval. Bloomberg ETF strategist Eric Balchunas recently raised the odds of approval to 90%, predicting a potential “altcoin ETF summer.”
Also Read: MemeStrategy Becomes First Public Firm to Hold Solana (SOL)
Backing this view, Fidelity Investments officially filed an S-1 registration for a spot Solana ETF with the U.S. SEC on June 14, 2025 — joining other heavyweights like Invesco and Galaxy Digital in the race to launch Solana-backed exchange-traded products.
Such filings mark a significant shift in institutional sentiment, with major players moving to gain exposure to Solana’s rapidly expanding ecosystem.
Institutional Confidence Grows
Evidence of institutional conviction is also emerging outside the U.S. Hong Kong-based publicly listed firm MemeStrategy recently disclosed a Solana reserve plan involving the acquisition of 2,440 SOL tokens worth HKD 2.9 million (approx. $370,000). This move underscores Solana’s growing appeal as a long-term digital asset investment among corporations.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
