Solana’s (SOL) price has surpassed $250, largely due to institutional adoption and optimistic expectations regarding ETF approvals in the U.S., positioning it for potential further gains. Over the past month, SOL has outperformed the wider altcoin market by 25%, driven by large corporate entities accumulating SOL as part of their treasury strategies, which now total 17 million SOL, or $4.3 billion. Despite strong corporate interest, there remains a low demand for leveraged positions, reflected by a perpetual futures funding rate near 8%. Furthermore, Solana's staking yield of 6.8% exceeds Ethereum’s yield, making it an appealing option for investors. The prospect of multiple Solana ETFs launching further elevates expectations for price gains toward the $300 mark, contingent on maintaining steady institutional inflows and navigating a competitive altcoin landscape. Amidst all this, derivatives traders indicate a bullish sentiment, with a lower put-to-call ratio suggesting expectations for price stability or increase.

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