Solana (SOL) surged 15% to $115 on Thursday, rebounding from a $100 low after former President Donald Trump proposed reversing global tariffs if re-elected. The unexpected policy shift ignited a sharp uptick in investor risk appetite, boosting equities and crypto alike. Solana led the altcoin rally, outperforming Ethereum and Bitcoin over a 24-hour period.
At press time, SOL trades at $116, reclaiming its 50-day moving average near $125—a key technical level for bullish continuation. Investors viewed Trump’s proposal as a sign of easing inflationary pressure and improved liquidity conditions.
- SOL gained over 15% in 24 hours
- Outperformed ETH and BTC during the rebound
- Bounced off technical support near $100
- Reclaimed 50-day moving average at $125
The timing of this rally coincided with mounting speculation around ETF approvals, particularly after a new SEC appointment with a history of crypto-friendly policy emerged.
Paul Atkins’ SEC Appointment Sparks ETF Speculation
Later in the trading day, the U.S. Securities and Exchange Commission confirmed Paul Atkins, a former commissioner known for his deregulatory views, as a new addition to its leadership. Atkins’ appointment is seen as a pivotal moment for altcoin ETFs, especially for Solana.
If approved, a Solana ETF would give institutions indirect exposure to SOL without managing wallets or custody solutions. Polymarket traders have now priced in an 81% chance of a SOL ETF approval in 2025.
ETF approval could mirror the impact of the spot Bitcoin ETF launch earlier this year, which pushed BTC above $80,000. Analysts suggest similar flows could support a significant valuation uplift for SOL.
Could Solana Really Reach $1,000?
While the $1,000 mark may seem lofty, Solana’s fundamentals support the possibility under ideal conditions. To reach this target, SOL would need to climb roughly 7x from current levels.
Key drivers that could support such a rally include:
- Over 1.3M daily active addresses on Solana
- More than $1B in daily DEX volume
- 64% of total SOL supply currently staked
- Declining token unlocks reducing new supply
If ETFs gain traction, institutional capital could pour into SOL at a time of limited supply expansion. Combined with rising utility from NFTs, DeFi, and enterprise apps, demand could outpace available tokens.
However, success hinges on regulatory clarity, macroeconomic stability, and continued developer and user activity on the network. With Q3 earnings season approaching, investors will watch for early ETF filings and fintech commentary.