Institutional demand for Solana (Sol) Cryptocurrency has grown in recent weeks, sending signals that Sol could surge to new highs. Solana prices have returned above $140, digging into nearly 20% DIP over the last 30 days. According to recent data from CME Group, the exchange Solana Futures has reached 1.75 million contracts. This shows the growing interest and belief in SOL cryptocurrencies at the institutional level. When demand rises, can Sol compromise on the new all-time high, perhaps even falling below $1,000?
According to x’s glashnodethe surge in SOL CME contracts suggests that institutional investors are actively placing price rebounds at $145.” June already owns three of the busiest days of Solf Chart Transaction this year, indicating the current bullish momentum. With Sol regaining $140, further profits could be ongoing, according to these futures investors. As a result, Solana Cryptocurrency could potentially rise.
What else is causing the Sol price?
Additionally, the list of potential Nasdaqs could also be rekindling the momentum behind Solana (SOL). In fact, submissions by the Canadian company Sol Sol Strategies to the SEC suggest a move to list Nasdaq’s Sol. The list certainly attracts investors and will likely send Sol back. Currently, there is no update on the NASDAQ list, but there is ample speculation that approval is imminent due to the growth of the crypto industry this year. Current price data reveals a liquidation heat map showing dense liquidity clusters around $160. The cluster suggests the possibility of moving prices towards that price if Sol starts to start backups. This can occur if the Solana Cryptocurrency is actually located in a Nasdaq composite.
Additionally, there have been several major spot transfers recently, but yesterday we witnessed the $177.7 million SOL’s move from one unknown wallet to another. The sudden whale movement is another evidence that Sol’s rally is imminent after leaving a hiatus of less than $160 over the past two weeks. Solana (Sol) also has several spot ETF applications currently awaiting approval in the SEC. According to Bloomberg ETF analyst James Seyfert, there is a 90% chance that the SEC will approve the SPOT Sol ETF this year. Any of these factors may play a role in rebounding to ATH levels at the melodrame level of SOL rebound.
So how much is Solana Sol expensive?
Analysts are mixed as to how much it will be. Some people suggest that Sol is tied to a new ATH before the end of the year, and will likely reach nearly Ethereum levels of $1,000. But first, we need to prove that the rebound is indeed here. Sol’s bullish foundations, including whale acquisitions and ETF hype, show a steady rise over the medium and long term. Solana’s price could therefore reach $160 at the beginning of July and soar before it reaches $200 before entering August. If that route is successful and exceeded, then the $300, $500, $1,000 talk could become more realistic. Currently, SOL is below 51% of its $294.33 ATH in January.
