Solana ($SOL) Crypto Forecast: Up 5.2% Today

What is Solana?

Solana (SOL) is a popular cryptocurrency token known for its high-speed transactions and scalability. The overall cryptocurrency market has been experiencing bullish momentum, with increased interest from institutional investors and positive regulatory developments.

Why is Solana going up?

SOL crypto is up 5.2% on Jul 2, 2025 20:01

• The approval of Grayscale's Digital Large Cap Fund conversion into an ETF by the SEC has likely boosted confidence in the cryptocurrency market, including Solana.
• The suspension of BONK redemption for Saga users may have redirected some investors towards Solana, contributing to its price surge.
• The anticipation of spot crypto ETF approvals for tokens like XRP, SOL, and LTC has created a positive sentiment around Solana, driving up its price.
• Solana's breakout above its descending trendline, coupled with the overall optimism surrounding ETFs and regulatory decisions, has further fueled the bullish momentum for SOL.

SOL Price Chart

SOL Technical Analysis

SOL News

Crypto ETF summer on the horizon as SEC approves Grayscale's Digital Large Cap and Rex-Osprey Solana ETFs

The Securities & Exchange Commission (SEC) on Tuesday approved Grayscale's request to convert its Digital Large Cap Fund into an exchange-traded fund (ETF).

https://www.fxstreet.com/cryptocurrencies/news/crypto-etf-summer-on-the-horizon-as-sec-approves-grayscales-digital-large-cap-and-rex-osprey-solana-etfs-202507020230

Bonk discontinues redemption for Solana Saga owners as claims slow down

Bonk (BONK) recovers by almost 4% at press time on Wednesday following two consecutive days of losses. Both the announcement of BONK redemption suspension for Saga users from July 31 and the surge in Open Interest align with the minor recovery, signaling upside potential in the token's price.

https://www.fxstreet.com/cryptocurrencies/news/bonk-discontinues-redemption-for-solana-saga-owners-as-claims-slow-down-202507020930

Bybit + Glassnode: The Lazarus Hack and Market Resilience Report

In early 2025, the Lazarus exploit sent shockwaves through the crypto industry — triggering large-scale withdrawals, sharp price swings, and widespread market uncertainty. But unlike previous crises, the market held.In this joint report, Glassnode and Bybit provide a data-driven assessment of how digital asset markets responded to this structural shock. Using on-chain metrics, exchange data, and behavioral indicators, we unpack what made this event different — and what it tells us about the growing maturity of the ecosystem.Whether you’re a strategist, risk manager, or institutional allocator, this report offers a forensic look at real-time capital movements, investor behavior, and exchange resilience during one of the most critical inflection points of 2025. 📄 Download your copy of the report here. Digital Asset Market Resilience: A Structural View of the Bybit Lazarus Hack This report offers a rare data-driven view into how digital asset markets responded to one of the most disruptive events of 2025. Using Glassnode’s proprietary on-chain and exchange-level metrics, we examine the structural mechanics that helped contain systemic risk - and what this means for the future of institutional participation and platform resilience.What You’ll Learn in This Report: Structural stress in action: A detailed breakdown of the Lazarus hack and its market impact Capital behavior under duress: Real-time signals of investor panic, withdrawal patterns, and behavioral shifts Exchange-level dynamics: How Bybit’s internal liquidity profile and response mechanisms helped contain contagion Lessons for institutional risk frameworks: How the event tested - and validated - structural resilience in crypto Bybit’s Ethereum Reserves and Derivatives Market Recovery The February 2025 hack that drained $1.4B in ETH from Bybit marked the largest centralized exchange breach to date, temporarily reducing ETH reserves from 779k to just 236k ETH. However, Bybit’s swift operational response led to a rapid recovery, with ETH balances rebounding to a post-hack peak of 729k ETH - restoring nearly 94% of lost reserves. This recovery played a central role in maintaining user trust and reflects the growing operational resilience of crypto platforms. Parallel to this, open interest across Ethereum, Bitcoin, and Solana derivatives experienced a sharp but short-lived contraction. By June, open interest not only recovered but surpassed pre-hack levels in ETH and SOL, signaling renewed investor confidence in Bybit’s infrastructure. Exchange Positioning: Market Share and Volume Stability Bybit’s derivatives market share, while briefly impacted, remained structurally sound. Open interest dominance dropped from 25% to a low of 18% after the hack but has since recovered to ~21%, underscoring partial restoration of market positioning. Perpetual volume dominance showed a similar trend, dipping from 17% to 14.3%, but rebounding to 16%. Despite these temporary losses in share, absolute trade volumes remained remarkably stable - averaging $10B/day for BTC, $1.7B for SOL, and peaking at a record $8.5B/day for ETH, even though it was the primary asset affected in the breach. This stability indicates that while some market share shifted, overall trust in Bybit's trading engine and user experience persisted. Liquidity Stress and Risk Diagnostics: A Temporary Shock The hack led to a clear but temporary deterioration in market liquidity. Bid-ask spreads widened and market depth across BTC, ETH, and SOL fell sharply as market makers withdrew during peak uncertainty. However, by mid-Q2 2025, both metrics had fully normalized, with market depth even exceeding pre-hack levels - demonstrating a strong return of liquidity providers. Proprietary Glassnode indicators such as the Internal Reshuffling Ratio and Whale Withdrawal Ratio also spiked, reflecting internal asset restructuring and large-holder exits. Importantly, both normalized swiftly, signaling that operational disruptions were efficiently contained and did not escalate into systemic risk. Together, these metrics illustrate how the industry is evolving to withstand - and recover from - extreme stress scenarios without cascading failures. Discover more in the full report Explore a real-world case study in exchange-level stress, institutional behavior, and capital flow mechanics under pressure. Learn how market participants responded, what on-chain and off-chain metrics revealed in real time, and what this event signals for the future of institutional crypto infrastructure.Download the full Glassnode x Bybit ReportGlassnode remains committed to providing the highest quality data and analysis to support institutional investors in the world of digital assets. Contact us for bespoke reports, data services, and more. For more reports on the current trends in the crypto markets, please visit Glassnode Insights.

https://insights.glassnode.com/bybit-glassnode-the-lazarus-hack-and-market-resilience-report/

Spot crypto ETF approval odds jump to 95% for XRP, SOL, and LTC ahead of US SEC decision on GDLC fund

The odds of spot crypto exchange-traded funds (ETFs) approvals reach 95%, with Ripple (XRP), Solana (SOL), and Litecoin (LTC) taking the lead.

https://www.fxstreet.com/cryptocurrencies/news/spot-crypto-etf-approval-odds-jump-to-95-for-xrp-sol-and-ltc-ahead-of-us-sec-decision-on-gdlc-fund-202507010545

Solana Price Forecast: SOL breakout fuels optimism amid ETF buzz

Solana (SOL) price trades around $151 at the time of writing on Monday, after breaking above its descending trendline last week, suggesting an upward trend ahead.

https://www.fxstreet.com/cryptocurrencies/news/solana-price-forecast-sol-breakout-fuels-optimism-amid-etf-buzz-202506300529

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Solana Price History

30.05.2025 - SOL Crypto was up 5.3%

• SOL's recent breakout above its descending trendline has instilled confidence in investors, suggesting a potential uptrend in the near term.
• The unlocking of over $484 million worth of tokens across major altcoins, including SOL, this week could be contributing to increased market volatility, potentially attracting more traders to SOL.
• The positive outlook for SOL, along with the general bullish market sentiment, may receive a further boost from speculation surrounding a potential ETF for the cryptocurrency, enhancing optimism among investors.

13.05.2025 - SOL Crypto was down 8.6%

• Despite plans to raise $5 billion to boost SOL treasury, Solana (SOL) dipped 10% today. This could be due to profit-taking by investors or a broader market correction.
• The overall crypto market plunge, including the decline in Bitcoin (BTC) and Ethereum (ETH), might have contributed to SOL's bearish movement as investors tend to react to market trends collectively.
• The news about the SEC asking issuers to resubmit Solana ETF S-1 filings could have initially boosted SOL's price earlier in the week, but the effect seems to have worn off, leading to the bearish movement today.
• The sharp pullback in top altcoins, including Solana (SOL), on Wednesday might have set a negative sentiment in the market, further impacting SOL's price today.

13.05.2025 - SOL Crypto was down 9.9%

• Despite DeFi Development Corporation's plan to raise $5 billion to boost SOL treasury, Solana experienced a 10% dip, indicating that the market sentiment was not positively impacted by the news.
• The sharp pullback in the cryptocurrency market, including Solana, could be attributed to the overall market correction, with Bitcoin closing below $109,000 and top altcoins recording a nearly 2% drop.
• The SEC's request for issuers to resubmit Solana ETF S-1 filings might have initially boosted SOL by 3% on Tuesday, but the positive momentum was not sustained, leading to the bearish movement.
• While meme coins like Fartcoin and Dogwifhat surged, Solana's performance was lackluster, suggesting that the market focus was more on speculative assets rather than established cryptocurrencies like SOL.

02.06.2025 - SOL Crypto was up 5.2%

• The approval of Grayscale's Digital Large Cap Fund conversion into an ETF by the SEC has likely boosted confidence in the cryptocurrency market, including Solana.
• The suspension of BONK redemption for Saga users may have redirected some investors towards Solana, contributing to its price surge.
• The anticipation of spot crypto ETF approvals for tokens like XRP, SOL, and LTC has created a positive sentiment around Solana, driving up its price.
• Solana's breakout above its descending trendline, coupled with the overall optimism surrounding ETFs and regulatory decisions, has further fueled the bullish momentum for SOL.

23.05.2025 - SOL Crypto was up 5.9%

• SOL's rise to $134 from a recent low was affected by geopolitical tensions, causing caution among crypto investors.
• The positive sentiment around Solana's turnaround and the growth in SOL Open Interest (OI) both fueled the upward trend.
• Despite potential downward movements and risks in the derivatives market, SOL sustained its bullish run.
• The overall strength of the crypto market, post a central bank announcement, also influenced SOL's favorable performance today.

20.05.2025 - SOL Crypto was down 5.6%

• SOL price slipped as Canadian Sol Strategies filed with the US SEC to list on NASDAQ, potentially diverting investor attention away from SOL.
• Despite a recovery above $150 earlier in the week, SOL faced downside risks due to subdued upside action and elevated risks in the derivatives market.
• The overall crypto market, including Bitcoin and altcoins, held steady after the Federal Reserve's decision to leave rates unchanged, but SOL was not able to maintain its resilience.
• SOL's bearish movement could also be influenced by the lack of significant bullish catalysts, despite ETFs approval buzz and the overall market recovery led by other cryptocurrencies like Bitcoin Cash and Jito.

20.05.2025 - SOL Crypto was down 5.1%

• SOL experienced a strong bearish movement today, likely influenced by the overall subdued price action and downside risks in the derivatives market.
• The minor uptick and fading bearish momentum above $140 might not have been strong enough to counteract the negative sentiment surrounding SOL.
• The geopolitical tensions in the Middle East could have added to the selling pressure on SOL, contributing to the bearish movement.
• Despite the approval buzz of ETFs, the bulls seem to be in a deep slumber, indicating a lack of significant positive catalysts to drive SOL's price higher amidst the current market conditions.

16.05.2025 - SOL Crypto was up 5.3%

• SOL experienced a strong bullish movement today, outperforming other cryptocurrencies in the market.
• The positive price action can be attributed to the steady recovery ahead of large token unlocks and the overall market sentiment favoring a market recovery.
• Despite recent dips due to external factors like geopolitical tensions and equity line agreements, SOL managed to bounce back and lead the market recovery.
• Observations suggest that SOL's resilience and potential for growth are attracting investors, despite the volatility in the broader cryptocurrency market.

16.05.2025 - SOL Crypto was up 6.8%

• SOL had a strong bullish movement today, outperforming other cryptocurrencies in the market.
• The positive price action could be attributed to the SEC asking issuers to resubmit Solana ETF S-1 filings, which likely increased investor confidence in the token.
• Despite recent dips due to market fluctuations and fundraising news from DeFi Development Corp, SOL managed to rebound and showcase resilience.
• The overall bullish sentiment in the cryptocurrency market, with top gainers like Jito and Bitcoin Cash, also contributed to SOL's upward momentum.

21.05.2025 - SOL Crypto was down 5.2%

• A warning issued by a Web3 VC firm about potential benefits for insiders and early investors in the Solana-based meme coin launchpad Pump.fun token sale could have contributed to the bearish movement in SOL today, raising concerns about market manipulation.
• The filing of Canadian Sol Strategies with the US SEC to list on NASDAQ may have introduced uncertainty and regulatory risks, which could have had a negative impact on investor sentiment towards Solana.
• Despite the positive market sentiment overall with Bitcoin, Ethereum, and XRP holding steady post the Federal Reserve's decision, the specific concerns regarding Solana's potential insider advantages and regulatory challenges may have outweighed the positive momentum, leading to the bearish movement in SOL today.

17.05.2025 - SOL Crypto was down 5.4%

• Despite positive signals, Solana experienced a strong bearish movement, dipping 10%.
• The market movement aligned with the broader crypto market decline, with Bitcoin and Ethereum also sliding, indicating a general market trend.
• Geopolitical tensions in the Middle East may have contributed to the sell-off and bearish sentiment affecting Solana's price.
• Efforts like the DeFi Development Corporation's plan to raise $5 billion to boost Solana's treasury were overshadowed by the overall market sentiment, resulting in the bearish movement.

28.05.2025 - SOL Crypto was up 5.3%

• SOL displayed a strong bullish movement today, bouncing back from a recent decline to a two-month low of $126.
• The bullish trend is linked to the improvement in market sentiment as investors regained confidence following the initial impact of the US attack on Iran, leading to risk aversion in the crypto markets.
• The uptick in SOL's value indicates renewed investor interest in the cryptocurrency, possibly considering it a safe-haven asset in times of geopolitical uncertainties.
• The optimistic price trend suggests that SOL could continue its upward momentum in the near term as market conditions stabilize and investor trust is restored.