Why Is Solana (SOL) Price Rising? The Key Reason
After a constant decline in recent days, Sol, a native of Solana blockchain, has successfully found a crucial $130 support, and the price has now begun to recover. However, the price rebound in SOL is facing a massive price drop in a period of other major assets, including Bitcoin (BTC), Ethereum (ETH) and Ripple’s XRP.
Solana (Sol) futures launch on CME Sparks Rally
Today, on February 28, 2025, Sol stabilizes the market trend with an impressive 4.5% uptrend, and is currently trading at close to $145.
The main reason for this surge seems to be that on March 17, 2025, CME Group CME Group will soon launch Solana (SOL) futures. However, the CFTC’s regulatory scrutiny is still under trial, although it follows the introduction of Bitcoin and Ethereum futures.
https://twitter.com/nategeraci/status/1895482828789625195
With the introduction of Sol Futures, market participants will have the option to trade both micro contracts (25 SOL) and larger contracts (500 SOL). This surge in price has led investors and traders to hope that SOL may exceed $130.
Solana (Sol) price action and key levels
According to expert technical analysis, SOL is expected to gain an important upward momentum after successfully retesting the key support level of $130. Prices have begun to show bullish movements and based on recent price action and historical patterns, if SOL holds above this critical level, it could increase 25% speed to $176 in the coming days.
Open interest
Following this announcement, Sole’s open interest in futures has increased by 10% over the past 24 hours, indicating increased trader participation and confidence in assets. Small shop.
$9.5 billion worth of SOL outflow
In addition, investors and long-term holders have accumulated SOL tokens. Data from spot inflows and outflows suggest that the exchange has witnessed outflows of $9.5 billion worth of sols over the past 24 hours, indicating potential accumulation that could boost buying pressure and further upward momentum.
