ZyCrypto 2025-07-09 16:07:50

SOL’s $300 Target: Analyst Predicts Solana Rocket Launch Once Spot ETF Gets Green Light

Major cryptocurrency Solana (SOL) is poised for a significant price breakout if its spot ETF is approved, according to popular crypto analyst Alek Carter. The 6th-largest cryptocurrency by market capitalization is currently trading within a narrow range, but analysts are pointing out the highly anticipated SOL ETF, which is just around the corner. The approval of these exchange tickers is expected to lead to significant inflows for the digital currency. Solana recently received a boost when its first staking ETF was launched last week, resulting in tens of millions of dollars worth of inflows; however, this is nowhere near enough on its own. While a staking ETF is a valuable financial instrument, the true estimate of a digital commodity’s growth is reflected in its spot ETF, which is still pending before the US Securities and Exchange Commission (SEC). SOL to Hit $300 Soon After ETF Listing Solana has been testing the patience of traders for some time, according to Alek Carter. However, the chances of a price breakout will dramatically increase once the spot SOL ETF is approved. He tweeted : “$SOL is just taking test of our patience. For now, it is in consolidation phase and close candle above $184, then get ready to open your longs. Solana may start to run with these ETF inflows. Sol range is clear in front of us we just have to wait to break it. Meanwhile, solana DApps did $562M+ in Q2 alone, more than Ethereum & Base combined I am watching closely $sol now WBU?” Image Source: X.com The Future Solana has experienced an abysmally poor 2024-2025 bull market overall. The programmable digital currency is among the most highly developed decentralized networks in the world, often beating Ethereum and the rest of the pack in on-chain activity and utility. However, it has yet to translate its strong on-chain performance into robust market activity. The coin is still struggling to break below $200 at the moment, but a major catalyst, such as the spot ETF, could change things considerably for the much-fancied cryptocurrency. The next couple of months will be a major make-or-break event for Solana. With Ethereum largely uninvolved during this bull market, it is expected that smaller programmable networks, such as Solana, Sui, and Tron, among others, could challenge the former’s dominance and, with it, the status quo.