Solana's income exceeds $87 million, surpassing both Bitcoin and Ethereum, amidst discouraging US employment figures.
Solana (SOL), the popular blockchain network, is experiencing a renewed surge of institutional interest and signs of stabilization following a turbulent past few years. The cryptocurrency's price reached a five-month high near $196 in July 2025, prompted by technical bullish patterns such as a cup-and-handle breakout.
In the latest development, the US Securities and Exchange Commission (SEC) approved staking for crypto ETFs last month, potentially attracting more institutions to channel capital towards Solana. Multiple entities, including Bitwise, Fidelity, Canary Capital, have submitted S1 amendments for Solana ETFs. This move is seen as a key catalyst that could support Solana reaching higher price levels, potentially around $500 or more if momentum continues.
However, the price of Solana (SOL) has taken a hit in recent days, with a decline for a fifth straight session on Friday, closing the day 4% lower at $166.23. This drop can be attributed to underwhelming US macroeconomic data that spooked global markets.
Despite the recent downturn, the $160 level is the immediate line of defense for Solana's price. A successful hold above this level could set the stage for a rebound toward the resistance area at $182. A sustained break above $182 could open the door for a retest of $190.
The current trading price of Solana (SOL) is not provided in the available data. However, it's worth noting that Solana generated $87 million in network revenue in July 2025, leading all Layer 1 and Layer 2 chains. This network revenue dominance emphasizes Solana's reputation as the preferred blockchain for economic transactions.
From a macroeconomic perspective, the outlook for Solana and crypto broadly remains influenced by global market sentiment, regulatory developments, and institutional capital flows. The successful launch of the first spot Solana ETFs earlier in 2025 significantly contributed to a peak price of about $293, highlighting how ETF approvals enhance liquidity and investor access, boosting prices.
Looking further ahead, Solana's scalability, developer ecosystem, and adoption in decentralized finance (DeFi), NFTs, and Web3 applications will be crucial. Long-term predictions span a wide range, with optimistic scenarios envisioning Solana surpassing $1,000 by 2030 due to mass adoption and technological leadership, while cautionary views emphasize macroeconomic risks and regulatory unpredictability that could limit upside.
In summary, the current trend is moderately bullish buoyed by ETF-related institutional inflows and technical momentum. However, Solana's future price will be shaped by broader macroeconomic conditions, regulatory clarity, ongoing blockchain competition, and the pace of real-world adoption within the Solana ecosystem. ETF approvals appear as a pivotal driver improving market dynamics and investor confidence for Solana's near to mid-term prospects.
Investing in Solana (SOL) through ETFs has become more attractive due to the recent approval of staking by the US Securities and Exchange Commission (SEC). Multiple entities have submitted S1 amendments for Solana ETFs, which could potentially support the cryptocurrency reaching price levels of $500 or more, if momentum continues.
The rapid expansion of Solana's network revenue, making it the leader among Layer 1 and Layer 2 chains, also emphasizes its position as the preferred blockchain for economic transactions, further attracting both institutional and individual investors to the technology.
