Solana (SOL) Charges Toward $165 Milestone as Active Wallets Explode Past 11.44M
Solana's network growth just hit ludicrous speed—and traders are taking notice.
Wallet surge signals bullish momentum
With over 11.44 million wallets now active on-chain, SOL's infrastructure is handling more traffic than some legacy payment processors. The spike comes as institutional players finally wake up to what retail degens knew years ago.
Price action heating up
That $165 target isn't just hopium anymore. The network's scaling solutions—which actually work, unlike certain *ahem* layer-2 band-aids—are translating into real adoption. Even Wall Street analysts are grudgingly updating their slides.
Just don't tell the TradFi guys this all runs on meme-powered community energy. Their spreadsheets might short-circuit.
- Solana wallet addresses with over 0.1 SOL surpassed 11.44 million, marking a new record.
- REX’s July 2 launch of a Solana Staking ETF triggered a 6% price jump and renewed interest in staking-based products.
- Despite recent gains, Solana’s DEX activity is still 91% below its January peak.
Solana has crossed a significant point, with more than 11.44 million wallets now holding over 0.1 SOL, according to crypto market watcher Ali. The increase constitutes a broadening of the user base and continuing demand for the environment of the blockchain even against a backdrop of recent volatility in prices.
Right now, prices of SOL are at $147.51 with a 2.26% decline for today but an 83.19% rise in 24-hour volume to $5.38 billion. That higher volume is a reflexive market beat before major events, among them much-anticipated ETF releases.
Sjuul, yet another key market influencer, said that SOL recorded gains during the past weekend, in which it breached over $148 temporarily but retreated into a small slide.
He said that his major region of bullish support was in the area of $144–$148. Maintaining this support would reinforce the existing uptrend and give short-term momentum traders a “buy-the-dip” opportunity.
Solana Staking ETF Launch Sparks Optimism
Bitunix has officially confirmed that REX’s first-ever solana Staking ETF will be available as early as July 2. The ETF will invest over 50% of its portfolio in on-chain staking, in what will be a historic first in connecting traditional finance with the blockchain network of Solana.
🚨 SOL Staking ETF is here!
REX will launch the first-ever US #Solana Staking ETF on July 2nd, introducing staking rewards to TradFi. Over 50% of holdings will be staked on-chain.
Market reaction: $SOL jumped 6%, JTO gained even more — showing strong interest in staking-based… pic.twitter.com/fGDh2kmLTn
Bitunix analysts also believed that if SOL manages to sustain prices over $150, it can test resistance zones around $160–$165. The ETF has already created Optimism among investment and trading communities, with Ether Wizz expecting a 20%–25% spike if institutional capital floods into Solana as forecasted.
While he discounted an imminent new all-time high, he emphasized the bullish setup underpinned by close to two years of momentum of an uptrend and a positive staking narrative.
$SOL has been in an uptrend for almost 2 yrs.
It also hit a new ATH in 2025, and now looks good for another rally.
There's almost a certainty of Solana staking ETF approval in July, and this'll definitely unlock a lot of institutional capital for Solana.
I'm not expecting a… pic.twitter.com/HIbOFMAEzF
DEX Volume Rebound Fuels Price Recovery Hopes
Solana reclaimed position two in decentralized exchange volume charts from ethereum with a 30-day total of $64.1 billion against ETH’s $61.4 billion, DefiLlama’s latest data shows. BNB Chain topped with $159.6 billion.
This higher activity rate provides insight into added user engagement in several of these Solana-founded projects, including Raydium, responsible for $19.1 billion; Pump.fun, with $14.2 billion; and Orca, with $13.9 billion.
However, despite these recent advances, DEX volumes of SOL still lag significantly behind, down about 91% from peaks in January. Nevertheless, a rebound for June overall and a bullish setup for marketplaces make a path to potentially regaining the $180 mark, particularly if ETF and DEX growth maintain their trajectory through Q3.
