SOL Surges on Tokenization Boom and ETF Countdown: | Crypto News
Solana (SOL) has exploded 12% in the past 24 hours, briefly touching the $200 mark, as a wave of institutional adoption and tokenization milestones supercharge its rally.
At the forefront is DeFi Development Corp (DDC), whose aggressive treasury strategy now holds over 1.3 million SOL value almost $250 million, incomes $63,000 daily in staking rewards.
The company’s 10% Annualized Organic Yield (AOY) and validator operations underscore Solana’s staking benefit over non-yielding belongings like Bitcoin.
In August alone, DDC added 4,500 SOL to its reserves, fueled in half by a $122.5 million convertible debt raise managed by Cantor Fitzgerald. CEO Joseph Onorati famous a 47% rise in the company’s SOL Per Share metric since June, highlighting strong operational growth.
Adding to bullish sentiment, CMB International, one of Asia’s largest asset managers, announced the tokenization of its Hong Kong–Singapore Mutual Recognition Fund on Solana via DigiFT and OnChain.
Solana ETF Approval Countdown Adds Regulatory Tailwind
A major catalyst on the horizon is the potential approval of Solana ETFs within the next two months. Nate Geraci, President of NovaDius Wealth Management, told CNBC that the SEC is contemplating over 75 crypto ETF functions, with a streamlined approval framework in place for belongings like Solana, XRP, and Cardano.
Crypto ETFs have already attracted $26 billion in inflows this 12 months, signaling deep investor confidence. If accredited, a Solana ETF may open the floodgates for conventional finance capital, doubtlessly accelerating the rally toward—and past—$250
Technical Outlook: $250 SOL Target in Play
From a technical perspective, SOL has damaged above key resistance ranges at $185, $190, and $195, with the next important hurdles at $202–$205. A sustained close above $205 may set off a short-term surge to $220, while breaking $222 may pave the way in which toward $244–$250.
The MACD stays in bullish territory, the RSI is trending upward without being overbought, and the Chaikin Money Flow has flipped optimistic, indicating strong shopping for strain. Support stays at $194 and $186, with a break below $175 invalidating the current bullish setup.
With institutional inflows, real-world asset tokenization, and a looming ETF determination, Solana seems poised for what could possibly be the early phases of a mega rally.
Cover image from ChatGPT, SOLUSD chart from Tradingview
Stay up to date with the latest trending crypto news! Visit our web site daily for the freshest Crypto news and content, fastidiously curated to keep you informed.