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Solana’s price started the new year following a post-Christmas decline that saw it drop below the psychologically important $200 price point.
Solana has soared from a low of $187 on January 1st to hit an intraday high of $209.18 in Thursday trading, SOL’s highest price since December 19th. SOL rose more than 10.8% over the past day to settle at around $206.89. It has now fallen 21.3% since hitting a new all-time high of $263 in November.
The spike in Solana prices comes amid strong traders’ expectations for the first spot-based SOL exchange-traded fund (ETF) in the United States.
SOL price regains $200 in BTC bullish ring in 2025
The price of Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, fell to $91,800 on Monday, the lowest price seen on a 30-day chart, according to data from CoinGecko. Looking back a little further, the last time Bitcoin reached that level was on November 26th, ending the parabolic curve that ultimately took the top cryptocurrency to its current historic high of $108,135 on December 17th. It was just before.
Bitcoin has since rebounded, rising more than 3% in the past 24 hours to its current price of $97,287. And as Bitcoin rises, so do the other crypto majors. For example, Ethereum rival Solana has soared above $200.
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Besides SOL, other major stocks such as Ripple’s XRP have risen about 5% in the past day, with the current price at $2.43.
With US Solana ETF approval, SOL price in 2025 will be $400?
Based on historical price chart patterns and rising expectations for the US-listed Solana exchange-traded fund (ETF), SOL price could be on track to reach $400. Investors are increasingly betting that the SOL ETF will get the green light by the end of 2025.
A growing number of asset managers have signed up to introduce spot Solana ETFs, including Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital. The U.S. Securities and Exchange Commission (SEC) is currently reviewing the pending application and is expected to issue a preliminary decision by the end of this month.
It is worth mentioning that Brazil approved the first Solana ETF in August 2024, setting a precedent for other global jurisdictions. Meanwhile, bettors on popular crypto betting platform Polymarket predict an 85% chance that the Spot SOL ETF will be approved by the US SEC in 2025.
That said, the outcome will largely depend on regulators’ stance on Solana. The legal status of the assets is currently uncertain due to ongoing investigation by the SEC. The agency previously classified SOL, along with several other crypto assets, as securities in enforcement actions against well-known crypto companies.
