Solana (SOL) is making headlines again, not just for its price momentum but for a major milestone in user adoption: over 11.44 million wallets now hold at least 0.1 SOL, signaling a broadening base of retail and institutional interest. As the blockchain ecosystem gains traction, market analysts are eyeing a potential surge toward $165, fueled by rising trading volume, renewed decentralized exchange (DEX) activity, and the upcoming launch of the first Solana staking ETF.
This convergence of on-chain growth, financial innovation, and market sentiment paints a bullish picture for Solana’s near-term trajectory — even as challenges like lingering volume gaps remain.
Record Wallet Growth Signals Strong Network Adoption
A key indicator of Solana’s expanding ecosystem is the surge in active wallet addresses. According to data from on-chain analyst Ali, the number of wallets holding more than 0.1 SOL has surpassed 11.44 million, setting a new all-time high. This metric is particularly meaningful because it filters out inactive or dust accounts, focusing instead on users with meaningful economic participation.
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This growth reflects increasing confidence in Solana’s infrastructure — known for its high throughput, low fees, and developer-friendly environment. Despite recent price volatility, the persistent rise in wallet counts suggests that users are accumulating and engaging with the network beyond speculative trading.
At the time of writing, SOL is trading at $147.51**, down 2.26% on the day but backed by a staggering **83.19% increase in 24-hour trading volume**, now exceeding **$5.38 billion. Such volume spikes often precede major market movements, especially when tied to anticipated financial products like ETFs.
Staking ETF Launch Ignites Institutional Interest
One of the most anticipated catalysts for Solana in 2025 is the launch of REX’s Solana Staking ETF, scheduled for July 2. This product marks a historic moment — the first ETF to integrate on-chain staking rewards into a traditional finance (TradFi) framework. Over 50% of the fund’s holdings will be actively staked, allowing investors to earn yield directly through regulated financial instruments.
The announcement has already triggered a 6% price jump in SOL, with staking-related tokens like JTO seeing even stronger gains. Market sentiment suggests that this innovation could unlock a floodgate of institutional capital into Solana’s ecosystem.
“SOL has been in an uptrend for almost 2 years,” noted crypto analyst Ether Wizz. “With the near-certainty of a staking ETF approval, this could unlock significant institutional inflows.”
Analysts believe that if SOL sustains trading above $150**, it could challenge resistance levels at **$160–$165 in Q3 2025. The ETF doesn’t just offer exposure to price appreciation — it introduces yield-bearing blockchain assets to conservative investors, bridging DeFi and Wall Street.
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DEX Activity Rebounds, But Challenges Remain
On the decentralized finance front, Solana has reclaimed the #2 spot in DEX trading volume, surpassing Ethereum with **$64.1 billion** in 30-day volume compared to Ethereum’s $61.4 billion. BNB Chain leads the pack with $159.6 billion, but Solana’s resurgence is notable given its strong performance in retail-driven trading platforms.
Key DEXs driving this momentum include:
- Raydium – $19.1 billion in volume
- Pump.fun – $14.2 billion
- Orca – $13.9 billion
These platforms reflect Solana’s vibrant meme coin culture, NFT trading, and accessible DeFi tools that attract both novice and experienced traders.
However, despite this rebound, Solana’s DEX volume remains 91% below its January 2025 peak. That gap highlights both the volatility of crypto markets and the work still needed to achieve sustainable, long-term liquidity growth.
Still, the overall trend is positive. June saw consistent weekly gains in volume and user activity, suggesting that marketplaces are regaining momentum. If current trends continue into Q3 — especially with ETF-driven capital inflows — Solana could retest its previous high near $180.
Why Wallet Growth Matters More Than Price Alone
While price targets like $165 capture headlines, the real story lies beneath the surface: user adoption.
The fact that over 11.4 million wallets now hold at least 0.1 SOL — roughly $14+ worth — indicates that Solana is no longer just a speculative asset. It's becoming a utility-driven platform where people transact, stake, trade NFTs, and participate in decentralized applications (dApps).
This kind of organic growth is harder to manipulate than price charts and often precedes sustained bull runs. Historically, networks that see prolonged increases in active addresses tend to outperform during broader market recoveries.
Moreover, the combination of low transaction costs and fast settlement times continues to make Solana a preferred choice for high-frequency applications like micropayments, gaming, and social tokens — sectors expected to grow exponentially in the next few years.
FAQ: Your Questions About Solana’s Surge Answered
Q: What does it mean when wallets hold 0.1 SOL or more?
A: Tracking wallets with at least 0.1 SOL helps filter out inactive or spam accounts. It’s a reliable proxy for real user engagement and economic commitment to the network.
Q: How could a staking ETF impact SOL’s price?
A: By bringing staking rewards into regulated financial products, the ETF lowers entry barriers for institutional investors. This could lead to sustained buying pressure and reduced circulating supply as more SOL gets locked in staking contracts.
Q: Is Solana outperforming Ethereum in DeFi?
A: In DEX trading volume over 30 days, yes — Solana recently surpassed Ethereum. However, Ethereum still leads in total value locked (TVL) and complex smart contract use cases. Solana excels in speed and cost-efficiency for retail traders.
Q: Can SOL reach $180 again?
A: It’s possible if current momentum holds. Key factors include sustained ETF-driven demand, recovery in DEX volumes, and broader crypto market stability. A break above $165 would open the path toward $180.
Q: Why is trading volume spiking while price dips slightly?
A: High volume during minor price corrections often signals accumulation — smart money buying dips before anticipated catalysts like ETF launches or network upgrades.
Q: What risks could slow Solana’s growth?
A: Network congestion during peak usage, competition from other Layer 1 blockchains, and regulatory uncertainty around staking products are potential headwinds.
Final Outlook: A Network Maturing Beyond Speculation
Solana’s journey in 2025 reflects a maturing blockchain ecosystem transitioning from hype-driven rallies to sustainable adoption. The surge past 11.44 million active wallets, combined with innovative financial products like the staking ETF, positions SOL as more than just another altcoin — it's emerging as a foundational layer for next-generation digital finance.
While challenges remain — including rebuilding lost DEX volume and maintaining network reliability — the fundamentals are strengthening. Traders watching for a move toward $165 should also pay close attention to on-chain metrics, staking trends, and institutional inflows.
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As blockchain technology continues to evolve, Solana’s blend of performance, accessibility, and innovation makes it one of the most compelling ecosystems to watch — not just for short-term gains, but for long-term transformation.
Core Keywords: Solana (SOL), staking ETF, wallet growth, DEX volume, price prediction, blockchain adoption, decentralized finance, institutional investment