Solana ETF Hopes Surge—Is $300 Next for SOL?

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Surging onchain activity, rising spot Solana ETF approval chances, and derivatives metrics suggest that SOL’s bullish price momentum could continue toward $300.

SOL futures open interest is up 12%, signaling strong institutional interest.

Spot Solana ETF approval odds jump to 91% on Polymarket.

A SOL price bull flag is in play on the weekly chart, targeting $335.

Solana price is up 4.3% over the last 24 hours to trade at $165 on June 11. This is still 43% below its all-time high of $294, reached on Jan. 19.

However, several fundamental, onchain and technical metrics suggest that SOL could continue its ascent toward new all-time highs above $330.

Solana open interest nears all-time highs

SOL’s price growth on June 11 was accompanied by an uptick in leveraged positions, with the aggregate open interest (OI) for Solana futures reaching $7.54 billion, up 12% in the last 24 hours. This is a 20% increase from the previous week and sits just 12% below the peak of $8.57 billion reached on Jan. 19. 

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