Solana Heats Up with Institutional Inflows, Liquid Staking ETF Launch, and Bullish Technicals

1. Market Snapshot & Price Drivers

SOL is currently trading around $173.5, showing mild upside momentum with a +5.9% gain over 24 hours.
A massive Pump.fun ICO recently sold out with nearly $500 million in demand, demonstrating confidence in Solana’s scalability and ecosystem.

BIT Mining Ltd., a former mining-centric firm, announced plans to raise $200–300 million to amass and treasury SOL, doubling its U.S. share price on the news — signaling institutional conviction in Solana’s growth.
A Solana liquid staking token (LsSOL) has launched with support from Coinbase, Kraken, Galaxy, Anchorage, and Fireblocks. Approximately $9.4 billion TVL is now staked via liquid staking methods, reflecting rising demand from institutional investors and market-ready infrastructure.
The REX-Osprey Sol + Staking ETF (SSK) debuted on the Cboe BZX, offering U.S. investors staking-based SOL exposure — raising ~$12 million on day one while charging 1.4% annual fees.

CoinEdition forecast (July 17): SOL is consolidating at $163.7 with key resistance at $167.3 and next at $178, while support lies at $162 and $156.
Price action shows a tightening, ascending triangle — often a bullish continuation pattern.
4H/1H Technicals: Higher lows, bullish 200 EMA, plus confirmed support at $159.3, targets at $172, then $183.8–$185 per recent analysis.

Institutional capital flows (BIT Mining treasury, staking ETF) reduce available supply and drive demand.
Network fundamentals: ~$4 billion in ecosystem deposits, and DEX volume at $3.1 billion/day, underscore health and usage.
Upcoming breakout range: A decisive move above $167–$168 may trigger rapid gains toward $183–$190. A drop below $159–$162 brings a risk of retracement to $150–$156.

The confluence of institutional investment, robust staking infrastructure, and bullish technical formations points toward a likely breakout.
Key price zones to track:
- Bull scenario: above $167 → rally to $190+.
- Bear scenario: break below $159 → revisit $150–$156.