Solana Enters Top 5 Cryptos With $126B Market Cap, Galaxy Digital Fuels Rally
(*5*)As of September 12, 2025, SOL trades at $ 237.90, giving it a market capitalization of $126.4 billion. The rally marks a 6.8% acquire prior to now 24 hours and over 15% weekly development, pushed by surging institutional curiosity and robust on-chain exercise.
(*5*)Analysts stress three key catalysts behind Solana’s momentum: Nasdaq’s approval of a Solana-focused itemizing, rising hypothesis over spot ETFs, and steady community upgrades that strengthen its place as Ethereum’s closest competitor.
Galaxy Digital’s $536M Solana Bet
(*5*)A serious driver of the rally was Galaxy Digital’s reported buy of two.31 million SOL tokens price practically $536 million inside 24 hours. Blockchain data confirms transfers from Binance, Coinbase, and Bybit to Galaxy-controlled wallets, fueling hypothesis that the agency is aggressively backing Solana’s development.
(*5*)This transfer follows Galaxy’s management in a $1.65 billion non-public placement for Forward Industries (NASDAQ: FORD), which is transitioning right into a Solana-focused digital asset treasury. Forward’s inventory soared 135% in 5 days, proving investor pleasure.
(*5*)Galaxy CEO Mike Novogratz declared the beginning of a “Solana Season,” citing regulatory progress, ETF optimism, and Solana’s unmatched scalability as causes for the aggressive accumulation.
ETF Hopes and Network Growth Accelerate Adoption
(*5*)ETF hypothesis continues to spice up Solana’s enchantment. Reports recommend a 90% probability of a Solana ETF approval by late 2025, with functions from VanEck and Fidelity already in evaluation. With staking yields round 7%, analysts imagine Solana is well-positioned to draw yield-focused ETF constructions.
(*5*)Meanwhile, Solana’s community fundamentals stay sturdy. August information exhibits 58 million month-to-month energetic customers and $15.3 billion in whole worth locked (TVL), fueled by exercise throughout DeFi, NFTs, and memecoins.
(*5*)Recent upgrades, together with the Alpenglow improve and the upcoming Firedancer consumer, promise larger scalability and diminished congestion.
(*5*)With institutional capital flooding in, ETF approvals on the horizon, and technical upgrades boosting efficiency, Solana’s momentum exhibits no indicators of slowing. Analysts now eye potential worth targets between $300 and $400 within the coming months if bullish circumstances persist.
Cover picture from ChatGPT, SOLUSD