The course of Solana (SOL) has a significant increase today. During the wider Cryptoma market Lies in the green area, Solana stands out – with an increase of over 5 % in the last 24 hours. At the time of publication, the SOL course is $ 124.53.
New hope for Solana ETF by changing at the SEC tip
The sudden price increase is primarily for new hopes regarding the approval of a Solana ETF (Exchange-Traded Fund) in the USA. Paul Atkins, known for his crypto-friendly attitude, recently became the new chairman of the US stock exchange supervision Sec (Securities and Exchange Commission) appointed. This increases the expectations that an ETF on Solana could be approved faster.
Investors on the Polymarket platform now appreciate the probability of approval in 2025 to 78 % – compared to 65 % in early January. As previously reported, large asset managers such as Vaneck, Grayscale and 21Shares have submitted ETF applications for Solana. According to experts, such an ETF could significantly improve the liquidity of SOL and attract new capital.
FTX moves $ 21.5 million in Sol
On April 11, 2025, the insolvent trading company FTX has a total of 186,326 SOL worth around $ 21.5 million transferred. This is part of the ongoing processing of the FTX assets after the collapse of the stock exchange.
Since the beginning of 2024, FTX and the sister company Alameda Research have released and moved over 18.66 million SOL-a total value of around $ 3 billion (based on historical courses). This time, however, the recent major sales had no noticeable negative influence on the price of Solana.
Liquidations reinforce the price increase
In addition to the ETF message, liquidations on the derivative market also play a role in the current price increase. Data from Coing show that within 24 hours of positions worth over $ 226 million were liquidated-$ 152.4 million in short positions.
For Solana were alone shorts Liquidated at $ 10 million, compared to USD 2.1 million LongPositions. If Short-Id positions are dissolved in large numbers, the demand for the underlying -in this case Solana -increases, which drives the course upwards.
Fartcoin drives Dex volume on Solana
The rally from Fartcoin could also be a catalyst for the youngest Sol course increase. According to data from CoinmarketCap, around 30 % of the spot trade with Fartcoin is currently taking place on the largest decentralized Solana exchanges such as Raydium and Orca. The trading volume on Solanas Dexs rose by almost 30 % to $ 13 billion last week.
Technical analyzes also show a positive picture. A Bullish Divergence with the Relative Strength Index (RSI) to recognize. This indicates that buyers are currently taking control. If this trend continues, the SOL course could increase at short notice in the direction of the 50-day average (SMA), which is currently around $ 130.