- Solana jumps 15% as ETF approval odds surge to 81% after Paul Atkins rejoins SEC.
- Over 64% of SOL is staked, reducing supply as DEX volumes exceed $1B daily.
- Solana nears its 50-day average at $125, fueled by network strength and ETF optimism.
Solana recorded significant gains this week, climbing from a support level near $100 to over $115 within 24 hours. The rally followed former President Donald Trump’s pledge to reverse global tariffs if re-elected, a statement that revived market appetite for risk assets. The market shift resulted in widespread gains for equities as well as technology stocks alongside prominent cryptocurrencies.
According to Coingecko data SOL price is currently hovering around the $116 level at press time as Solana led altcoins, rising over 15% in 24 hours and outperforming both Ethereum and Bitcoin over the same period.
Paul Atkins Returns as Regulatory Outlook Shifts for Altcoins
The U.S. Securities and Exchange Commission confirmed the return of Paul Atkins, the Republican former commissioner who comes with a long history of crypto-friendly stances—This announcement came hours after the tariff rollback news and added further fuel to Solana’s rally. Investors interpreted Atkins’ return as a strong signal that altcoin ETF applications could receive more favorable consideration in 2025.
Solana showed exceptional performance with its value rising more than 15 percent compared to Bitcoin and Ethereum minimal gains. Market analysts believe that the positive investor sentiment and revived trust in altcoins lead to this trend. Solana’s recovery towards its 50-day moving average at $125 accompanied the price movement which implies more technical breakout possibilities. Market participants began positioning around a new narrative developing in Washington.
At press time on April 10, data from Polymarket shows that bettors raised the probability of Solana ETF approval verdict in 2025 spiked to 81 percent. The change in outlook is seen as a major turning point for altcoin accessibility in institutional markets.
Atkins’ regulatory stance and prior statements have suggested a structured but open approach to digital asset products. This new direction may influence ETF application evaluations that have stalled since Bitcoin’s spot ETF approval in early 2024.
Staking, Usage, and Limited Supply Enhance Upside Case
From a structural standpoint, Solana boasts one of the most active Layer 1 networks in terms of transaction count and DeFi usage. Daily active addresses on Solana now average over 1.3 million, while decentralized exchange (DEX) volumes routinely top $1 billion per day.
More than 64 percent of SOL is currently staked, reducing liquid supply and creating conditions for price appreciation. Analysts suggest that an ETF could amplify demand without increasing circulating tokens, given declining token unlocks.
Moreover, enterprise adoption, new memecoin projects, and NFT developments continue to drive usage. These factors, combined with favorable tokenomics, position Solana for continued strength if macro conditions remain supportive. With ETF products opening doors to retirement accounts and institutional portfolios, the capital influx could mirror Bitcoin’s rally post-ETF in 2024.
Can Solana Reach $1,000? Structure Suggests a Path Exists
A $1,000 Solana price target would imply a 7x multiple from current levels—a speculative leap, but not implausible under the right macro and regulatory conditions.
Assuming Bitcoin maintains strength and Ethereum ETF products gain momentum through 2024, a path for a $1,000 SOL price exists—though it will require sustained network usage, macro stability, and regulatory clarity. A key test will come in Q3 earnings season, when fintech firms may disclose early ETF filing intentions for Solana or other altcoins.
Solana price outlook has shifted significantly following key political and regulatory developments. With rising odds of an ETF approval under Paul Atkins and strong network fundamentals, the altcoin appears to be on a path toward higher valuations.
