- Sol Strategies secured $17.4M in credit to expand staking, liquidity provision, and validator operations on Solana.
- Market data from Polymarket suggests a 74% probability of SOL ETF approval, reinforcing investor optimism.
The Canadian investment firm Sol Strategies has obtained CAD $25 million (USD $17.4 million) in credit, reinforcing its commitment to Solana’s ecosystem. The capital will be deployed across staking services, validator operations, and liquidity provision, supporting emerging projects within the Solana network.
This move aligns with growing institutional interest in SOL, particularly in anticipation of a potential spot ETF approval in the U.S. Andrew Kang of Mechanism Capital has pointed to SOL’s undervalued status relative to its network growth, emphasizing its potential for significant appreciation once regulatory approval is secured.
At present, Polymarket traders are assigning a 74% probability to a SOL ETF approval in 2025. However, market conditions remain uncertain due to macroeconomic challenges, with concerns over U.S. inflation data potentially delaying the Federal Reserve’s interest rate cuts.
Despite bullish expectations for institutional adoption, SOL has faced short-term selling pressure, registering a 13% decline, bringing its price below $200. Key levels to watch for stabilization include $190 and $175, as investors assess the broader market.
Solana (SOL) is currently trading at $196.70, reflecting a 7.87% increase in the last 24 hours. Its market capitalization stands at $95.06 billion, with a 24-hour trading volume of $5.65 billion, marking a 69.70% increase. The circulating supply is 483.65 million SOL, with no fixed maximum supply.
Following ETHNews reports, Solana has been demonstrating strong bullish momentum, driven by increased institutional interest, growing DeFi adoption, and technological advancements.
The blockchain has surpassed Ethereum in daily DEX trading volume ($3.8 billion) and has introduced quantum-resistant security features such as the Winternitz Vault, reinforcing its long-term security.
Additionally, there is an 85% probability of a Solana ETF approval by 2025, which has further fueled investor confidence.
With SOL’s continued institutional adoption, expanding DeFi dominance, and the psychological resistance at $200, a successful breakout could push the token towards the $220 – $250 range in the short term.
However, if SOL faces rejection at $200, a retracement towards $175 – $180 is likely before the next upward move.
