Solana is showcasing a steady rise, driven by a combination of institutional investor interest and a surge in meme coins within its ecosystem.
Institutional Investor Interest
The newly launched REX-Osprey SOL + Staking ETF (SSK) is generating interest from institutional investors, nearing $100 million in assets and offering rare staking rewards. Since its launch, the fund has seen inflows every week and currently holds $99.7 million in assets.
Technical Price Analysis of Solana
The price of Solana has surpassed a crucial resistance level, reaching $185, the highest since May 27. Given the bullish technical indicators, including the potential formation of a golden cross, the price is poised for further growth towards the $200 resistance.
Impact of Meme Coins on Price Growth
The price of Solana has also surged significantly as most meme coins in its ecosystem soared, pushing their market cap to $15 billion.
With the combination of institutional interest and activity from meme coins, Solana shows promising growth signs, attracting attention from both investors and the public.
