ETF Inflows Drive Solana Interest
Investors have been consistently adding funds to Solana‑linked exchange‑traded funds (ETFs) for six weeks in a row. Despite a recent dip in SOL’s price, last week saw an inflow of $20 million into these funds. The largest of these is the Bitwise Solana Staking ETF (BSOL), managing $660 million in assets, followed by Grayscale’s Solana Trust ETF (GSOL) with nearly $160 million. The appeal of these funds lies in the staking rewards offered by the Solana blockchain, making them an attractive option for passive investors, particularly with SOL currently at an eight‑month low of around $125.
Technical Outlook
From a technical standpoint, SOL recently approached the $140 mark but has since retreated to the low $130s. Current trading volumes stand at $4 billion, which is less than 6 % of SOL’s circulating market cap. Historically, SOL requires trading volumes exceeding $10 billion to gain significant momentum. While SOL has found strong support at $130, an increase in trading volume is needed to confirm growing buying interest. A breakout above $160 would signal a reversal of the current downtrend and suggest a bullish outlook for the coming weeks, with a potential target of $200.
New Meme Coin Emerges
In other news from the Solana ecosystem, a new meme coin called Maxi Doge ($MAXI) has raised $4 million by capturing the early hype that surrounded Dogecoin. More than just a meme coin, Maxi Doge aims to build a community‑driven ecosystem where holders can share early opportunities, trading strategies, and market insights. The project plans to invest up to 25 % of its presale proceeds into promising projects, with returns being used for marketing purposes.
Analyst Perspective
Given the current price level and the potential for capital gains if SOL recovers after the upcoming FOMC meeting, some analysts believe that now could be an opportune time to consider investing in Solana.
