Solana token jumps above $100 as trading volume and ETF inflows surge

Solana’s native token climbed more than 23% over the last week, crossing the $100 threshold for the first time since February and trading at about $107. The rise was accompanied by a record $1.2 billion of cumulative inflows into Solana-focused exchange-traded funds, including a single-day inflow of nearly $34 million, the largest this year. Stablecoin holdings on the Solana network neared $16 billion, providing ample dollar-backed liquidity.

Over the past 30 days, decentralized exchanges on Solana facilitated close to $56 billion in trade volume, with more than $10 billion recorded in the most recent week, partly driven by memecoin activity on platforms like Pump.fun. The bullish momentum aligns with a broader crypto market uplift following Treasury Department bond repurchase announcements. While Bitcoin also rose, Solana outperformed many other altcoins, according to market observers.