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Home»ALTCOIN NEWS»GSOL soars to all-time high
ALTCOIN NEWS

GSOL soars to all-time high

By Crypto FlexsJuly 25, 20243 Mins Read
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GSOL soars to all-time high
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  • GSOL has surged to an all-time high as of this writing.
  • GSOL price rises as expectations for SOL ETF grow.

Grayscale Solana Trust has benefited from the current market conditions as the cryptocurrency market recovers and institutional investor interest surges.

As discussions around a SOL ETF have intensified over the past two months, institutional investor interest has emerged even as Solana’s price has declined since its rally in May.

GSOL is trading near ATH

GSOL benefited greatly from the favorable market conditions surrounding SOL. According to Google Finance, GSOL closed at $524 two hours before the article was published, close to its all-time high.

Source: Google Finance

Over the past 30 days, GSOL has risen 48.45% to $507 at the time of writing, and over the past 6 months, it has risen 298.99%.

Source: Google Finance

What is noteworthy is that the recent surge has analysts speculating and being optimistic about the future potential of GSOL. For example, crypto analyst Nic noted:

“The Grayscale GSOL Trust is trading close to its all-time high, trading at 7x NAV. These institutional buyers are willing to gain $SOL exposure at an implied price of $1,300 or more.”

Source: X

His analysis bets on continued institutional interest in SOL. As investor inflows increase, these investors will be willing to pay a higher premium to gain exposure to SOL.

Pay attention to SOL ETF

Over the past two months, there has been increasing social discourse in the cryptocurrency markets regarding the Solana exchange-traded fund (ETF).

Last month, expectations for SOL rose significantly after several firms filed for the fund. VanECK became the first asset management firm to file for a Solana ETF in the United States.

Following the application, 21Shares filed a proposal with the SEC. Likewise, the Canadian company filled the Solana ETF for QSOL, allowing institutional investment.

This move sent GSOL stock price soaring to $408. So, expectations for the Solana ETF are driving GSOL’s recent surge and resilience, especially after the Ethereum ETF approval, which has investors optimistic about.

What Solana’s Price Chart Shows

SOL was trading at $176.39 at the time of writing after rising 8.21% on the weekly chart. Volume was up 4.24% in the last 24 hours, reaching $3 billion.

According to AMBCrypto’s analysis, the recent rise in SOL prices coincides with the continued rise in GSOL, which is a sign of favorable market conditions for the SOL ecosystem.

Source: TradingView


Is your portfolio green? Check out the SOL profit calculator


As Chaikin Money Flow (CMF) points out, Solana was experiencing positive market sentiment at the time of writing. SOL’s CMF is positive at 0.31, suggesting increased buying pressure.

On Balance Volume (OBV) has further proven this. The OBV has risen to $73.4M at the time of writing, showing that buying pressure is increasing and a price surge is likely.

Next: Could XRP Reach $1 Soon? Key Indicators Point to Massive Upside Ahead

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