Solana reaches new price record: SOL price reached a new high of 264.68 USD, up 65.35% from the early November 2024 price. Currently, the SOL price is about 252.035 USD, down 1.11% in the past 24 hours. Solana’s market capitalization reached 119.44 billion USD, and trading volume decreased to 5.21 billion USD.

Impact from new Solana ETFs: ETF filings from Bitwise, VanEck, 21Shares, and Canary Capital have boosted Solana’s price. Filings were submitted on November 21, coinciding with the announcement of a change in SEC personnel in January 2025. This can facilitate future cryptocurrency ETFs.

Accumulation from large investors (whales): In the past two days, large investors have purchased approximately 142,443 SOL worth 35 million USD. One wallet bought 42,443 SOL from Binance for 11.14 million USD, another staked 100,000 SOL for 23.86 million USD. This activity creates significant buying pressure.

Technical analysis and network field: Solana has formed higher patterns with a daily RSI index at 73.08, close to overbought levels. The network’s transaction count reached 80.71 million, indicating growth. With support from ETFs, accumulation, and high network usage, SOL may reach 300 USD.