Solana (SOL) surged 10% over the last 24 hours, reaching an intraday high of $86 as the broader crypto market stabilized following a period of extreme fear. The rally was supported by $40 million in net inflows to U.S.-based spot Solana ETFs since Feb. 9 and significant short liquidations totaling $15.4 million.Broader market sentiment shifted positive after a speech by President Trump, fueling a rebound that saw Bitcoin retake $67,000 and Ethereum reclaim the $2,000 level.
Solana’s SOL token emerged as a primary beneficiary of a sudden market-wide relief rally on Wednesday, outperforming most large-cap digital assets with a 10% gain. After testing local lows near $75 on Tuesday, the asset climbed to $86, buoyed by a combination of institutional accumulation and a massive squeeze of bearish positions. The surge has brought Solana back into a critical trading zone, with analysts now eyeing a potential breakout toward the $100 psychological level.The upward momentum was reinforced by robust on-chain activity and institutional interest. According to Artemis data, Solana led all major blockchains in fee generation over the past 24 hours, recording approximately $640,000 in fees. This fundamental strength coincides with persistent demand for U.S. spot Solana ETFs, which have maintained a steady streak of inflows despite recent price volatility. Since Feb. 9, these investment products have seen $40 million in net new capital, signaling that professional investors are treating recent dips as buying opportunities.
The broader market rebound was triggered in part by shifting macroeconomic sentiment. Following a period of uncertainty surrounding global trade policies, a speech by President Trump to Congress appeared to lift risk appetite across both traditional and digital asset markets. This shift saw Bitcoin (BTC) rise 5% to trade above $67,000, while Ethereum (ETH) surged nearly 9%, momentarily reclaiming the $2,000 mark for the first time in a week. The total crypto market capitalization climbed approximately 4.5% to $2.35 trillion during the session.
“This collaboration with The Tie reflects our commitment to expanding institutional participation in the Solana ecosystem through credible infrastructure,” stated Alice Zhang, Chief Investment Officer of Sharps Technology, highlighting the ongoing trend of institutional integration within the network. Sharps Technology recently announced it would delegate a portion of its 2 million SOL treasury to institutional validator infrastructure, further securing the network.
Despite the bullish price action, some technical analysts remain cautious. While the 10% jump has cleared immediate resistance, derivatives data indicates that funding rates have fluctuated, suggesting a battle between longs and shorts remains active. CoinGlass data revealed that the rally forced over $15 million in short liquidations, a move that often provides the necessary fuel for a sustained “short squeeze” if buyers can maintain the $82 support level in the coming days.
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