Solana's network hit a record of 14.6 million active addresses amid rising speculation about a potential ETF approval by the SEC.
Record User Activity
According to analyst Ali Martinez, the recent surge in Solana's user activity indicates growing engagement across the network. Notably, Solana continues to outperform rival blockchains in network revenue, earning over $271 million in Q2 2025.
ETF Speculation Around Solana
The market is actively discussing the potential ETF for Solana. Reports suggest that the SEC has asked applicants to revise or resubmit ETF filings by the end of July, which analysts view as a sign of progress. Bloomberg’s James Seyffart called the ongoing communication a 'positive signal'.
Market Overview
Despite these bullish signals, SOL's price slightly decreased to $151.17, down 0.86% in the past 24 hours. This decline may reflect uncertainty as the SEC delays its decision on Fidelity’s Solana ETF proposal. However, overall investor sentiment remains cautiously optimistic, especially with rising user activity.
With increased user engagement and intensifying ETF speculation, Solana may be poised for renewed upside, particularly if regulatory clarity emerges and institutional access expands.
