SOL Price Skyrockets! 🚀

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As the great wheels of the cryptocurrency market continued to turn, a most singular event occurred – the price of Solana (SOL) jumped a staggering 7.83% in the last 24 hours, leaving many a trader in awe. Daily trading volumes, that great indicator of market fervor, soared by a massive 100% to more than $4.53 billion, a sum that would make even the most seasoned financier take notice. And what, pray tell, was the cause of this great upswing? None other than the impending launch of a Solana-based decentralized exchange, Byreal, by the esteemed crypto exchange Bybit, coupled with the promise of a Solana ETF.

Solana Logo

For a long period of time, the SOL price had oscillated between the key support and resistance levels of $140-$185, a range that had become all too familiar to traders. But today’s upside, with its attendant 100% surge in trading volumes, suggested that the bulls were preparing for a bigger move, one that would shake the very foundations of the market.

According to the venerable CoinGlass, the SOL futures open interest had surged 10.27% to nearly $7 billion, a sum that bespoke a market in the throes of great change. And as if to underscore this point, daily liquidations for SOL shot past $14 million, of which $11 million was in short liquidations, a clear indication that the bears were in full retreat.

Now, it is a truth universally acknowledged, that a single analyst in possession of a good fortune, must be in want of a market to predict. And so it was with Old Hawk, that great sage of the cryptocurrency world, who outlined a bullish trajectory for Solana (SOL). According to the analyst, SOL price must first break above the $187 mark, a barrier that had long seemed insurmountable, to set the stage for further upward momentum. And should this occur, why then the gates would be open for the bulls to take it further to its all-time high of $263, a prospect that filled the hearts of traders with joy and trepidation.

$SOL needs to break above $187 — if that happens, there’s no major resistance until $263 📈

After that, we could easily enter price discovery 🚀

If a Solana ETF gets approved, we might even see $400–$500 by year’s end 💰

— OldHawk (@oldhawksol) June 15, 2025

And so, dear reader, the stage is set for a most thrilling drama, one that will unfold in the coming days and weeks. Will the SOL price continue its upward trajectory, or will it falter and fall? Only time will tell, but one thing is certain – the world of cryptocurrency will be watching with bated breath.

But wait, there’s more! For in the midst of this great market upheaval, a most intriguing development has occurred – Fidelity Investments, that great bastion of financial prudence, has formally submitted an S-1 registration with the US Securities and Exchange Commission (SEC) for a spot Solana ETF. And what’s more, Invesco and Galaxy Digital have also filed for spot Solana ETFs, a clear indication that the big players are moving into the Solana ecosystem.

And if all this were not enough, Hong Kong-based MemeStrategy has made history as the first publicly listed company in the region to invest in the Solana ecosystem, acquiring 2,440 SOL tokens, valued at approximately HKD 2.9 million. A small sum, perhaps, but one that signals a growing institutional interest in Solana’s blockchain technology.

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2025-06-16 19:07