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Should the meme coin hype return, it might help reset a growth trend for the protocol. Focus on major SOL utility Beyond the major Solana price sell-off, the protocol has also lost its DEX ranking to Ethereum. This trend might be discouraging to investors; however, focusing on the coin’s more positive trends is poised to shift its outlook.
As the Solana (SOL) volume surges 300%, the price of SOL appears to be eyeing a rebound. The sudden boost in trading activity indicates that the market is no longer ignoring this promising protocol. The recent addition of Solana and Chainlink to PayPal’s US customers could be one of the catalysts behind this trend.
The push for a Solana ETF in the United States marks a major tailwind to watch in the long term. While the odds of approval are not as high as those for Litecoin and Dogecoin ETF products, the potential emergence of SOL funds will drive institutional investors into the ecosystem.
Source: https://u.today/solana-volume-skyrockets-300-as-sol-price-eyes-rebound
