- Canada-based Sol Strategies has raised more capital for its SOL investment.
- Crypto VCs predicted optimistic results for SOL once the ETF is approved.
Solana (SOL) MicroStrategy equivalent Sol Strategies has secured CAD $25M (approximately USD $17.4M) in credits for revamping its SOL token purchase and staking service. Part of a statement from the Canada-based company read,
“The company plans to deploy these tokens across key focus areas within the Solana ecosystem, including decentralized finance protocols, validator operations, and providing strategic liquidity for emerging Solana-based projects.”
SOL ETF expectations
Institutional interest in layer 1 platforms could explode in the US market in the coming months. SOL ETF expectations.
According to Andrew Kang of cryptocurrency VC Mechanism Capital, SOL is undervalued relative to its network growth ahead of its first-quarter ETF approval.
Kang also cited the lack of supply overhang like Grayscale as a key catalyst for SOL’s value. He said:
“Certain SOL ETFs have been approved this year in almost, if not the first quarter, with January-March approval deadlines. There is no grayscale overhang like in ETH.”
At press time, bettors at prediction site Polymarket had predicted a 74% chance of SOL ETF approval in 2025.
Source: Polymarket
However, SOL suffered from short-term headwinds in the macro environment. Recent US economic data has strengthened tight inflation, which could derail the Federal Reserve’s interest rate cuts in 2025 and impact risk assets.
The market plummeted after the macro update, but cryptocurrencies fell the hardest. SOL gave back its recent gains and erased the entire early January recovery.
As of this writing, it is down 13% and below $200. The next important support levels were $190 and $175.
Source: SOL/USDT, TradingView