Solana News: SOL Price Surges Ahead of CME Group’s Futures Launch

Solana (SOL) has seen a significant price increase recently, defying the overall market trend. Find out why experts believe this upswing is happening and what it means for the future of SOL.

Why Is Solana (SOL) Price Rising? The Key Reason

After a continuous decline, SOL has found support at $130 and has begun to recover. SOL defied the market trend with a 4.5% upside momentum and is currently trading near $145. The primary reason for this surge appears to be the upcoming launch of Solana (SOL) Futures by CME Group, the world’s largest futures exchange, on March 17, 2025.

CME to Launch SOL Futures Amid Rising Institutional Interest

The CME Group plans to introduce Solana (SOL) futures pending regulatory approval, aiming to launch on March 17. These new contracts will offer institutional and retail investors an efficient way to trade and hedge against Solana’s price movements. This move signals further institutional adoption of Solana, joining Bitcoin and Ethereum in CME’s expanding crypto derivatives market. Despite a general decline in the digital currency space, Solana (SOL) is on an uptrend, trading at $145 with a 5% increase in the past day.

Solana Multisig Provider Under Review After Safe Exploit

Yesterday, Bybit CEO Ben Zhou revealed that the platform’s $1.4 billion hack was caused by malicious code originating from Safe{Wallet}’s infrastructure. Preliminary reports indicate that Safe’s frontend was exploited to trick Bybit into signing a malicious transaction. Although Safe’s actual smart contracts performed as intended, the exploit gave hackers access to a significant amount of assets, as Safe’s smart accounts secure over $100 billion in digital assets. Solana CEOs expressed their shock and concern over the incident.

CME Group to Introduce Solana Futures

CME Group will introduce Solana futures on March 17, pending regulatory approval. U.S. traders will be able to buy and sell both micro-sized contracts of 25 SOL and larger-sized contracts of 500 SOL. The launch is in response to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk. Despite most digital assets falling on Friday, SOL was trading at $144.71.