Solana News: SOL Above $195; Bitwise Says Its SOL Staking ETF Had 'Big First Day'

Solana's cryptocurrency (SOL) steadied around $195 after experiencing a brief decline below $200 on October 28. The Bitwise Solana Staking ETF (BSOL) launched successfully, achieving a first-day volume of $55.4 million and managing $217.2 million in assets under management (AUM), while targeting significant staking rewards. Grayscale's Solana Trust ETF (GSOL) is set to list on NYSE Arca, further boosting interest around SOL. Despite this positive news, SOL's performance was lower than the broader crypto market, showing a 0.78% increase, but overall trading volume was 44% below the seven-day average. Technical indicators reveal that SOL is caught between $194 and $203, with declining support levels noted if it fails to hold above $195. The market's focus has shifted towards Solana with the recent ETF launches, positioning it advantageously amid growing DeFi liquidity and stablecoin market cap, which has jumped significantly this year.

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