SOL futures open interest increased by 12%, indicating strong institutional interest, as Solana’s price rose 4.3% to $165 on June 11, while remaining 43% below its January peak. The total value locked (TVL) in Solana’s decentralized applications reached its highest since June 2022 at approximately $9.1 billion, supported by a significant rise in active addresses, which grew by 38.5% to 2.7 million. Additionally, the likelihood of the SEC approving a Solana ETF has surged to 91%. This potential approval from major asset managers could unlock institutional capital, boosting demand for SOL. A bullish chart pattern, a bull flag, suggests upward movement toward a target price of $335 or a 103% increase from current levels. However, analysts note the importance of maintaining support at $190 to sustain this upward momentum.

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