Solana (SOL) is climbing fast, up almost 8% in the past 24 hours to reach $131.59. Two major factors are fueling this rise. For one, the SEC has at last called off its four-year legal battle with Ripple, a dispute that’s been simmering since 2020.
The news sent XRP soaring nearly 15%, while Bitcoin and Ethereum also saw solid gains, up 4% and 9%, respectively.
Then, there’s the first-ever Solana futures ETFs launching in the U.S. tomorrow, courtesy of VolShares. This is a huge deal because it opens the door for more institutional investors to get in on Solana, and traders are clearly buying in ahead of the launch.
During this upbeat wave, Solana’s market cap has climbed to $67.11 billion, with its 24-hour trading volume ticking up to $2.73 billion.
The market is in the middle of an all-out rally, and Solana is right there with it. Whether this climb keeps going depends on how investors respond in the coming days, but for now, those holding SOL have plenty of reasons to feel hopeful.
Also Read: Why is XRP Up? What is Driving the Pump?
