Key Takeaways:
- Solana wallet addresses with over 0.1 SOL surpassed 11.44 million, marking a new record.
- REX’s July 2 launch of a Solana Staking ETF triggered a 6% price jump and renewed interest in staking-based products.
- Despite recent gains, Solana’s DEX activity is still 91% below its January peak.
Solana has crossed a significant point, with more than 11.44 million wallets now holding over 0.1 SOL, according to crypto market watcher Ali. The increase constitutes a broadening of the user base and continuing demand for the environment of the blockchain even against a backdrop of recent volatility in prices.
Right now, prices of SOL are at $147.51 with a 2.26% decline for today but an 83.19% rise in 24-hour volume to $5.38 billion. That higher volume is a reflexive market beat before major events, among them much-anticipated ETF releases.
Sjuul, yet another key market influencer, said that SOL recorded gains during the past weekend, in which it breached over $148 temporarily but retreated into a small slide.
He said that his major region of bullish support was in the area of $144–$148. Maintaining this support would reinforce the existing uptrend and give short-term momentum traders a “buy-the-dip” opportunity.
Also Read: REX-Osprey to Debut First Staked Solana ETF on Wednesday; SOL gains 5%
Solana Staking ETF Launch Sparks Optimism
Bitunix has officially confirmed that REX’s first-ever Solana Staking ETF will be available as early as July 2. The ETF will invest over 50% of its portfolio in on-chain staking, in what will be a historic first in connecting traditional finance with the blockchain network of Solana.
Bitunix analysts also believed that if SOL manages to sustain prices over $150, it can test resistance zones around $160–$165. The ETF has already created optimism among investment and trading communities, with Ether Wizz expecting a 20%–25% spike if institutional capital floods into Solana as forecasted.
While he discounted an imminent new all-time high, he emphasized the bullish setup underpinned by close to two years of momentum of an uptrend and a positive staking narrative.
DEX Volume Rebound Fuels Price Recovery Hopes
Solana reclaimed position two in decentralized exchange volume charts from Ethereum with a 30-day total of $64.1 billion against ETH’s $61.4 billion, DefiLlama’s latest data shows. BNB Chain topped with $159.6 billion.
This higher activity rate provides insight into added user engagement in several of these Solana-founded projects, including Raydium, responsible for $19.1 billion; Pump.fun, with $14.2 billion; and Orca, with $13.9 billion.
However, despite these recent advances, DEX volumes of SOL still lag significantly behind, down about 91% from peaks in January. Nevertheless, a rebound for June overall and a bullish setup for marketplaces make a path to potentially regaining the $180 mark, particularly if ETF and DEX growth maintain their trajectory through Q3.
Also Read: Solana Price Drops Slightly but Volume Soars; What’s Next?
