Solana Gains Momentum Amid Canadian ETF Approvals and Heightened Binance Trading Activity
Solana (SOL) has experienced a significant price surge as institutional interest grows following the approval of Solana-based ETFs in Canada. Simultaneously, heightened trading volumes on Binance indicate robust retail participation, further fueling bullish sentiment. Analysts attribute this upward trajectory to Solana’s scalable infrastructure and increasing adoption in decentralized finance (DeFi) applications. Market observers are now watching whether SOL can sustain this momentum and challenge its previous all-time high (ATH) levels.
Solana Sees $120M in Network Inflows
Solana is not just winning on paper—real money is flowing into the network. Over the past month, more than $120 million in liquidity has moved from other blockchains to Solana. Ethereum alone contributed $41.5 million. Arbitrum, Base, BNB Chain, and others added millions more. These inflows show growing trust in Solana’s ecosystem. Investors aren’t just holding SOL—they’re using the network. Total value locked (TVL) on Solana jumped 12% in one week, hitting $7.08 billion. Liquid staking apps like Sanctum and Jito also saw big deposit increases. With more capital moving in, the network’s activity is booming. Memecoins like Bonk and Popcat are rallying too, riding this wave of momentum. The message is clear: Solana is back in demand.
Binance Traders Bet Big on SOL
The sentiment on Binance is heavily tilted in favor of Solana. According to recent data, about 71% of traders holding open positions on Binance expect SOL to keep climbing. That’s a strong bullish signal coming from one of the largest crypto exchanges in the world. This Optimism aligns with the recent 40% price surge from $95 to $133 in just ten days. Trading volume is also up, with billions of dollars changing hands. These metrics indicate serious interest—not just from retail traders but from bigger players too. It’s no coincidence that all this follows the Canadian ETF launch. As institutions jump in, retail traders are following closely. Everyone seems to be betting that SOL still has room to run.
Solana Technicals Point to $200 Target
Technical indicators are also flashing green. Solana just broke out of a falling wedge pattern—a bullish reversal signal. After bouncing off a long-term support NEAR $95, SOL broke above $120, confirming the breakout. Now, analysts are eyeing $200 as the next target. For the rally to continue, SOL needs to hold above $130, the 50-day simple moving average. It also has to clear resistance levels between $160 and $180. If it does, a run to $200 looks very possible. The RSI (Relative Strength Index) climbed from 33 to 55 since early April, showing strong buying momentum. With both technicals and sentiment aligned, the setup for Solana is increasingly bullish.
Institutional Faith in Solana Keeps Growing
Companies like Janover are doubling down on Solana. The real estate fintech firm recently added over $10 million in SOL to its treasury. Now it holds more than 163,000 SOL. This mirrors the MicroStrategy model with Bitcoin—buy, stake, and hold long-term. Such moves aren’t just about speculation. They show growing belief in Solana’s infrastructure and staking rewards. With Canada backing ETFs and companies boosting their SOL holdings, Solana is becoming more than just a trader’s token. It’s turning into a serious investment asset.
