Solana Token Is Growing Again: What's Behind the Growth and What Investors Should Pay Attention To
Date: 2025-09-09 Author: Henry Casey Categories: CRYPTO PAYMENTS
The value of the Solana token (SOL) has doubled since April 2025, exceeding $216 by early September. Thus, the asset managed to regain its position after the spring fall below $100 and approach the historical maximum of $295, recorded at the beginning of the year. The dynamics of SOL largely repeat the movement of Ethereum (ETH), which briefly updated the record in the summer.
The growth is facilitated by the same factors that previously supported Bitcoin and ETH: expectations of the launch of exchange-traded funds (ETF) and active demand from companies forming crypto reserves. Investors view Solana as a promising instrument, and the market is responding with increased liquidity.
Of particular note was the $1.65 billion investment in Forward Industries by Galaxy Digital, Jump Crypto, and Multicoin Capital. This investment was the largest for a public company working with Solana. Forward announced a change in strategy: now the company intends to accumulate SOL and participate in the development of the blockchain ecosystem. Immediately after the news, FORD stock quotes on NASDAQ more than doubled.
Multicoin Capital played an important role in the deal: the fund's managing partner Kyle Samani took over as chairman of the board of directors of Forward. Samani is known as an early supporter of Solana and an active investor in blockchain projects.
The trend of using cryptocurrencies as corporate reserves has intensified in the past two years. Public companies are beginning to repeat the model that Michael Saylor applied for MicroStrategy back in 2020 - turning digital assets into a strategic tool. Such structures are called Digital Asset Treasury Companies (DATCO), and their shares actually provide access to cryptocurrencies within the traditional stock market.
In addition to Forward, at least six public companies already own significant amounts of SOL, totaling more than $950 million. Among them are Upexi and Defi Dev ($425 million each), Sol Strategies ($80 million), Torrent Capital ($8 million), Exodus Movement ($7 million), and Lion Group Holding ($1.4 million).
Another key driver is the prospect of an ETF on Solana. According to Bloomberg analysts, a decision on applications is expected in October. The SEC traditionally uses maximum review periods, but experts estimate the probability of approval at about 90%. The launch of the fund on Solana could mark the beginning of a new stage - "Altcoin ETF Summer", that is, the expansion of the range of exchange-traded products beyond Bitcoin and Ethereum.
Thus, the interest in Solana from institutional players and the upcoming decision on the ETF create the ground for further strengthening of the asset. However, investors should take into account the high volatility of the market, where even positive expectations can be accompanied by sharp price fluctuations.
