Solana (SOL) may be heading for a turnaround after a tough June, with the token dropping from $156 to around $140.
Despite the pullback, signs of a potential breakout are building as institutional momentum, on-chain volumes, and public sector interest align.
One of the most notable developments is the recent wave of spot ETF filings for SOL. Investment giants such as Invesco Galaxy and VanEck are lining up with the SEC, pushing odds of approval toward 90%, according to Polymarket data. Some traders even anticipate a decision as early as next month.
In parallel, Solana is now dominating decentralized exchange activity. According to DeFiLlama, it has surpassed Ethereum in 30-day DEX volume, recording $64 billion in trades. Only BNB Chain leads by volume, showing strong user interest despite fading memecoin hype.
Solana’s growing traction isn’t limited to crypto natives. Wyoming’s state government is adopting its blockchain for a new stablecoin initiative, a move that could elevate the network’s long-term credibility.
Technically, SOL is struggling to break through $152 and $159, key resistance levels that have previously triggered rallies. If institutional demand continues to rise and these thresholds are crossed, analysts suggest the token could run toward $187.
While market momentum remains cautious, the alignment of regulatory, trading, and adoption signals paints a bullish picture for Solana as the quarter closes.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/heres-what-to-expect-from-solana-as-june-comes-to-a-close/