Solana Surges 16% on ETF Application Momentum

Solana (SOL) has seen a significant rise in price, gaining over 16% in the past week. This surge is attributed to the recent applications for spot ETFs tracking Solana's price in the US. VanEck and 21Shares have filed applications with the SEC, following the success of Bitcoin (BTC) and Ethereum (ETH) spot ETFs. Solana's trading volume has also jumped 50%, making it the third most traded cryptocurrency, excluding stablecoins. The potential for Solana spot ETFs in the US market is driving this bullish momentum.