TLDR:
- Solana market cap hits $126B, overtaking Binance to rank 5th in crypto value globally.
- $SOL price rises 7.21% in 24 hours and 16.45% in the past seven days.
- Investors watch ETF approvals and treasury purchases as potential bullish triggers for $SOL.
- Solana upgrades aim to enhance speed and reduce costs, fueling market attention and inflows.
Solana has lately shown solid price performance with the market capitalization hitting $126 billion, surpassing Binance Coin (BNB). Crypto analysts are observing the asset closely, suggesting a potential market shift.
Daily trading volume has spiked, highlighting increased investor activity. Market watchers note that technological upgrades and upcoming ETF developments could influence price action. As of the latest data from CoinGecko, SOL trades at $238.48.
Market momentum for Solana has gained traction after a period of relative quiet. Traders are noting that SOL could benefit from a combination of a smaller market size and recent performance trends.
Observers are connecting the upcoming ETF approvals with potential capital inflows. Analysts emphasize that transaction speed improvements may enhance network adoption. The current environment positions Solana as a focal point for crypto investors in the coming weeks.
Solana Price Drivers and Market Factors
Lark Davis, a crypto commentator, highlighted SOL’s growing bullish momentum, noting ETF launches and treasury purchases as catalysts. Davis compared the current SOL setup to early BTC and ETH stages, suggesting the potential for rapid price growth.
$SOL feels like it's lining up for the trade of the cycle.
ETFs coming, treasury purchases, upgrades making it faster and cheaper = price goes higher
Bitwise's CEO Matt Hougan thinks $SOL could be in a position similar to when $BTC was at $40K and $ETH was at $1600
Meaning,…
— Lark Davis (@TheCryptoLark) September 11, 2025
He indicated that Solana’s network upgrades make it faster and cheaper, attracting investor interest. This combination of market dynamics and network improvements is seen as a possible driver for short-term price increases.
Scott Melker, known as The Wolf Of All Streets, mentioned that Solana could capture spillover demand from larger cryptocurrencies. He noted that SOL had missed attention in previous months, creating potential for a breakout.
Melker highlighted mid-October as a period to watch, coinciding with the SEC ETF deadline. He added that market sentiment, combined with inflows and momentum, could create a flywheel effect impacting Solana price movements.
🚀 Q4 could be really exciting for Solana.
Not only does Solana have a chance to catch up to Bitcoin and Ethereum after missing out over the past few months, but it could also capture spillover demand from the larger assets above it. I love it when a quality asset gets counted…
— The Wolf Of All Streets (@scottmelker) September 11, 2025
Solana’s market position reflects a blend of innovation and strategic timing. Network upgrades are expected to enhance speed and reduce costs, encouraging adoption.
The cryptocurrency’s smaller size compared to Bitcoin and Ethereum allows for rapid shifts in valuation. Traders are observing how broader market trends and regulatory updates may influence SOL performance.
Transaction activity continues to reflect growing confidence in Solana. Daily volume has exceeded $13 billion, showing robust trading interest. Price movement over the past week shows a 16.45% increase, signaling strong market engagement.
Analysts continue to track SOL developments closely, noting potential catalysts for further growth.
