- Solana (SOL) has surged over 40% in a week, reaching $131.04, driven by growing optimism around a potential ETF approval, strong technical indicators, and rising institutional interest.
- The network also saw a 17% spike in active addresses and leads in DEX volume, signaling robust on-chain growth and continued bullish momentum.
Solana (SOL) has staged a powerful comeback, rallying more than 40% in just one week after dipping below the $100 mark. The price of SOL now stands at $131.04, marking one of its strongest recoveries this year as bullish momentum floods back into the market.
ETF Speculation and Institutional Confidence Ignite Momentum
Driving this explosive growth is increasing investor optimism surrounding a potential Solana exchange-traded fund (ETF). The likelihood of ETF approval by 2025 has surged to 81%, up from just 65% earlier this year, according to Polymarket. Much of this optimism stems from the appointment of former SEC commissioner Paul Atkins as the new head of the U.S. Securities and Exchange Commission, which has triggered speculation about more favorable altcoin regulations.
Further fueling the excitement, Grayscale Investments recently filed an updated S-1 to convert its Solana Trust into a publicly listed ETF, following the SEC’s earlier approval of Solana-linked futures ETFs—SOLZ and SOLT—by Volatility Shares LLC.
Technical Indicators Show Strong Bullish Signs
On the technical front, Solana’s momentum appears far from over. The MACD line has crossed above the signal line, indicating continued bullish pressure, while the Relative Strength Index (RSI) is sitting comfortably at 53.49—above the neutral zone and pointing to an ongoing uptrend.
The SOL/ETH ratio also tells a compelling story. It hit 0.080 on April 13, its highest weekly close ever, and has been consistently forming higher highs since early April. This indicates Solana is outpacing Ethereum in recent market performance, with SOL gaining 35% in the last week compared to ETH’s 13%.
Just like Ethereum's run in 2021, Solana is setting up for a massive move in 2025.$ETH in 2021 followed a clear accumulation and breakout pattern on the CME chart.$SOL is now showing a similar structure on the CME Futures chart.
Accumulation Zone:… pic.twitter.com/PJ2sTXu4Vm
— BitBull (@AkaBull_) April 14, 2025
On-Chain Activity Highlights Explosive Growth
Solana’s rebound isn’t just speculative—it’s backed by strong on-chain fundamentals. Active addresses on the network jumped by 17% this week, with over 3.5 million new addresses added, bringing the total to an impressive 74.8 million. That’s significantly higher than both Binance Smart Chain and Ethereum.
Daily decentralized exchange (DEX) volumes on Solana surpassed $2 billion, the highest among all blockchains, underscoring the network’s utility. Meanwhile, the long/short ratio has climbed to 1.06, showing traders are leaning heavily bullish.
Projects like Loopscale, which recently launched on Solana and processed $750 million in loan volume, demonstrate growing adoption. Institutional interest is also rising, with venture capital firms eyeing Solana as a serious Web3 infrastructure contender.
With strong fundamentals and market enthusiasm on its side, Solana may be gearing up for a push toward its next resistance level at $147.60.
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