One Week After Staking ETFs, Solana Price Prediction is Weakening: Will $150 Hold?

During the last Solana boom, driven primarily by meme coins on Pump.fun, many thought SOL USDT would have already breached $500 and possibly even $1,000 by now. With less than two months to go before 2025 comes to an end, Solana price prediction models point to weakening bulls.

From the SOL USDT candlestick arrangement in the daily chart, it is clear that the upside momentum is waning, and buyers are struggling to maintain the uptrend. In the short term, key levels to watch out for are $150 and $200.

As it stands, Solana is down in the crypto market cap ranking, sliding below BNB crypto. Meanwhile, XRP crypto has cemented its place in the top 5, flipping BNB crypto, whose prices have fallen back below $1,000.

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While supporters never fail to mention Solana’s advantages over Ethereum and legacy chains, it is clear that this year has been unfavorable for SOL bulls.

Year-to-date, SOL crypto is down -21%, underperforming versus ETH and some of the top cryptos to buy. What’s more? In the last two weeks alone, Solana fell nearly -20%, cratering from local resistance levels.

(Source: Coingecko)

For the uptrend to take shape, two things must happen: Meme coins activity must pick up steam, and secondly, institutions must double down on SOL, scooping up the coin from spot levels.

Interestingly, on Coinglass, traders are upbeat. SOL futures trading volume is up nearly +10% on Binance, while the long/short ratio across Binance and OKX accounts remains in positive territory.

(Source: Coinglass)

Meanwhile, open interest, a measure of all open positions, including both long and short positions, has been steady, slowing down after the collapse earlier this month. Overall, there has been a sharp decline in open interest since it peaked at over $15Bn in mid-September.

(Source: Coinglass)

If more traders load up at spot rates, SOL USDT may recover, bouncing from local supports and $150 as buyers target $200 and later, $300, in the medium term.

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However, the pace of this leg up will be determined by how fast institutions will be pouring into Solana.

And this is crucial.

Following the approval of spot Solana ETFs in late October, the big boys have been exploring and buying SOL-backed shares.

Since the two spot Solana ETFs launched on October 28, there has been no day without inflows. Cumulatively, institutions in the United States have bought nearly $600M of spot Solana ETFs. Yesterday, over $6.7M of spot Solana ETF shares were bought, mostly via Bitwise.

(Source: SosoValue)

Unlike spot Ethereum ETFs, Bitwise can stake SOL and distribute yields to BSOL holders.

BSOL by Bitwise offers a +5-7% APY, effectively combining price exposure with yield generation. Meanwhile, GSOL by Grayscale currently offers spot exposure without staking.

However, with the November 10 guidance from the US Treasury and the IRS, there is an easier path for spot Solana ETF issuers to offer not only spot exposure but also staking rewards without breaking the law.

To qualify, spot ETF issuers only have to hold one type of crypto from a public PoS blockchain and follow a certain liquidity protocol.

At the same time, they shouldn’t perform any other function besides holding via a qualified custodian. Meanwhile, as per the guidance, staking will be done via an independent staking provider.

With this guidance, it is likely that more issuers will apply for spot Solana ETFs, helping more institutions to gain exposure all while securing the network in exchange of decent near risk-free APYs.

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Read original story One Week After Staking ETFs, Solana Price Prediction is Weakening: Will $150 Hold? by Dalmas Ngetich at 99bitcoins.com