Solana's native token, SOL, has experienced a significant surge in buying pressure and market attention, driven by a powerful combination of short-term catalysts and a strengthening long-term investment thesis. The token's price jumped approximately 5% early this week, briefly touching levels around $157, following credible reports that the first Solana-related exchange-traded fund (ETF) is set to launch in the United States. The REX-Osprey SOL+Staking ETF is anticipated to begin trading as soon as this Wednesday, a development confirmed by a spokesperson for Osprey Funds. This news acts as a major validation for the Solana ecosystem, potentially unlocking a new wave of capital from traditional finance investors seeking regulated exposure to SOL's price action and staking rewards.

Solana (SOL) Price Analysis and Key Technical Levels

From a trading perspective, the recent price action has been dynamic. While the ETF news provided a strong upward thrust, SOL's price later retraced slightly, stabilizing around $155.51 on the SOL/USDT pair, marking a 24-hour gain of over 4%. Trading volume spiked significantly on the news, with the SOL/USDT pair alone registering over 3,882 in volume. Technical analysis models indicate critical levels for traders to watch. Immediate support was established near $143.02, while a key resistance zone formed at $147.98. During a particularly bullish period between 13:06 and 14:05 UTC, the price climbed from $146.27 to $147.31, a 0.71% increase, before hitting the session high of $147.98 on a burst of strong volume. The ability of SOL to hold above the $150 psychological level will be crucial in the coming days as the market digests the ETF launch.

SOL's Performance Against Bitcoin and Ethereum

Beyond its USD pairing, Solana has also demonstrated notable strength against the two leading cryptocurrencies. The SOL/BTC pair saw a 24-hour increase of over 3.3%, reaching a price of 0.00141930 BTC. This indicates that SOL has been outperforming Bitcoin, a bullish sign for the altcoin market. Similarly, the SOL/ETH pair climbed by nearly 2.6% to 0.068000 ETH. This relative strength suggests that capital may be rotating from the market leaders into high-beta plays like Solana, as traders seek higher returns and position themselves for ecosystem-specific growth catalysts like the upcoming ETF. The continued positive performance of these pairs is a key indicator of sustained momentum for SOL.

The Long-Term Thesis: Solana as the Backbone for Tokenization

While the ETF provides immediate excitement, the underlying fundamental narrative for Solana is arguably even more compelling for long-term investors. Ryan Watkins, Co-Founder of the crypto-focused hedge fund Syncracy Capital, recently reaffirmed his bullish stance on the network. In a post on X on June 25, Watkins stated that Solana now appears positioned to lead the “tokenization of everything.” This thesis suggests that real-world assets, from stocks and bonds to real estate, will eventually be migrated onto blockchain networks, and Solana's high throughput and low transaction costs make it a prime candidate to serve as the foundational layer for this multi-trillion dollar shift. Watkins had previously highlighted the competition between Solana and the decentralized exchange Hyperliquid as the “cryptoeconomy’s defining battle,” predicting the winner could become a platform valued between $100 billion and $500 billion. His updated view now sees Solana dominating the broader tokenization space, reinforcing institutional confidence and aligning with the record-high CME Futures volume for SOL, which recently hit 1.75 million contracts—a clear sign of sophisticated investor engagement.