Solana's value surged by 4.5% following Canada's introduction of the initial spot ETFs, marking a pivotal moment in the rise of institutional interest in North America. This development comes as SOL reaffirms its lead over Ethereum in decentralized exchanges, securing a remarkable 16% weekly increase.

The spike in Solana's price amidst global economic uncertainties illustrates its resilience and strength compared to the wider cryptocurrency market. Notably, SOL has found solid support in the $125-$127 range, consistently fending off various attempts at downward pressure.

Canada's initiation of Solana ETFs marks a significant step towards legitimizing and expanding Solana's presence among institutional investors. This move is expected to further solidify Solana's position and amplify its adoption within the financial sector.

In technical analysis, Betsy Farber provided valuable insights and reporting on the evolving landscape of Solana's market dynamics.

Solana Surges 4.5% as Canada Launches First Spot ETFs

North American institutional interest grows as SOL reclaims DEX dominance over Ethereum with 16% weekly gain.

• Solana's price rose over 4% amid global economic tensions, outperforming the broader crypto market.
• The $125-$127 range has become a critical support zone for SOL, successfully rejecting multiple downside attempts.
• Canada launched the first spot Solana ETFs in North America, boosting institutional interest in the token.

Technical Analysis Highlights

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Betsy Farber contributed reporting.