Solana Price Rally Eyed as SOL Strategies Lists on Nasdaq
Solana price has dropped by 7.6% this month to around $200, despite doubling from its April low. A key catalyst is the SOL Strategies Nasdaq listing scheduled on September 9 under the ticker STKE. As one of the largest SOL accumulators, SOL Strategies holds 435,064 SOL ($87 million) and plans to raise $500 million for further accumulation. This listing could boost Solana price by improving capital inflows.
Another major driver is the expected approval of multiple SOL ETFs. The SEC sets October 16 as the deadline for Bitwise and 21Shares applications, with other firms like Fidelity and Franklin Templeton also awaiting decisions. High market odds (>80%) anticipate approval. On-chain accumulation and ETF optimism coincide with a golden cross in technicals. If Solana price breaks current resistance at the Murrey Math line, it could target its year-to-date high near $295, implying a 47% gain.
Bullish
Both the SOL Strategies Nasdaq listing and looming SOL ETF approvals are strong bullish catalysts. Listing on Nasdaq enhances credibility, widens investor access, and allows SOL Strategies to raise funds for accumulation, similar to Grayscale’s spot Bitcoin fund driving BTC inflows. The pending SEC decision, with market odds above 80%, echoes the positive price reaction seen after Bitcoin ETF approvals in 2021. On-chain accumulation and technical indicators, including a golden cross and resistance test at the Murrey Math line, further support an upward trajectory. In the short term, Solana price may spike on the listing debut. Over the long term, ETF inflows could underpin sustained growth by broadening institutional demand and reducing circulating supply. Traders are likely to increase long positions ahead of these catalysts.