Solana's price has seen a significant increase, up 7.45% over the last 24 hours, fueled by a general rebound in the cryptocurrency market and optimism regarding a potential Solana ETF approval. The speculation stems from the recent appointment of Paul Atkins as SEC chair, who has a crypto-friendly stance. Current projections on Polymarket suggest a 76% chance for SOL ETF approval in 2025, marking an upward trend from 65% in January. Additionally, the derivatives market has experienced substantial short liquidations, with over $226 million in total liquidations, including $152.4 million from short positions. This surge in liquidations has further contributed to Solana's price rally. Analysts note a bullish divergence on SOL's daily chart, indicating a potential continuing upward trend, with shorter-term targets above $130 if momentum persists. Investors are advised to conduct thorough research due to inherent risks in trading.

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