Solana (SOL) experienced a significant increase over the past 24 hours, fueled by optimism surrounding the upcoming launch of a futures ETF by Volatility Shares.
Surge in Solana Interest
According to CoinMarketCap, Solana has risen 6% in the last 24 hours, reaching $135. This is attributed to anticipation of the Solana futures ETF by Volatility Shares, set to debut on Thursday.
Rise in Solana Futures Open Interest
Crypto analyst Ali Martinez pointed out on X that Solana’s futures open interest has climbed to $2.7 billion, levels not seen since October 2024. This signals increasing participation from traders and investors in the derivatives market.
Key Support Levels for Solana
Price levels at $94, $97, and $100 collectively hold a significant 3.5% of the total SOL token supply, serving as strong support for further growth.
The market is optimistic about the Volatility Shares' Solana futures ETF launch, which may continue to positively influence SOL's price dynamics.
