Analysis: Solana ETF hopes and rising fundamentals are driving SOL prices higher

ChainCatcher reported that according to CoinDesk, market observers said that increased trading activity and expectations for the development of the Solana ETF may be the reasons for Solana's recent strong performance.
The SOL token has risen more than 18% in the past week, outperforming Bitcoin (BTC) and Ethereum (ETH), and was trading over $180 in early trading on Monday, a three-month high.
Amberdata Blockchain researcher Pat Doyle shared, “The Solana ecosystem is seeing strong growth, as evidenced by increased DEX activity, increased daily active users, and increased network fee accumulation. These strong fundamentals, coupled with positive market sentiment, are driving SOL forward.”