Solana surges 14%% on successive positive developments…expectations of global capital inflows rise

Institutional capital inflows fuel price rebound

Prediction markets, mobile tokens and continued ecosystem expansion

Solana (SOL) has attempted a sentiment turnaround, rebounding about 14% over the past two days after a prolonged correction. The revival in investor sentiment is attributed to simultaneous highlights of increased global institutional participation expectations and ecosystem expansion tailwinds.

Solana, which fell intraday to $121 on the 21st of last month, continued its uptrend since the 2nd (local time) and recovered to the $140 level. As of the 3rd, Solana was trading on the Binance Tether (USDT) market at around $144, up about 1% from the previous day.

The biggest change is Franklin Templeton's listing of a Solana spot exchange-traded fund (ETF). Templeton officially listed 'SOEZ' on NYSE Arca, entering the market for SOL-tracking ETFs. In particular, the ETF is structured to include staking rewards, which is seen as greatly increasing the possibility of direct inflows from institutional investors.

Roger Bayson, head of digital assets at Templeton, said, "Solana is a core layer of the digital economy," adding, "Tokenized assets and next-generation financial applications are growing based on speed and efficiency." In addition, Vanguard allowing trading of crypto asset-based ETFs and mutual funds on its platform also appears to have spurred buying demand.

Kalshi's onboarding of Solana to its prediction market platform is also seen as a meaningful positive. On the 2nd, Kalshi began supporting the buying and selling of tokenized prediction market betting contracts on the Solana chain.

This enables users to trade existing off-chain contracts in the form of Solana-based tokens, greatly expanding anonymity and liquidity. DeFi DFlow and Jupiter act as bridges to connect Kalshi's order book with the Solana ecosystem.

Kalshi explained, "Prediction market demand is rapidly increasing, and we chose Solana to absorb trillions of dollars of crypto liquidity." The industry expects that, with prediction market trading volume approaching $28 billion this year, the news will lead to increased demand and liquidity for the Solana ecosystem.

Expansion of the Solana mobile ecosystem is also stimulating investor sentiment. Solana developer 'Solana Labs' recently announced it will launch the native token 'SKR' of its mobile ecosystem in January next year. The total supply will be 10 billion tokens, of which 30% will be distributed via airdrops.

Airdrop recipients will include users of the Solana mobile device 'Seeker' and on-chain dApp participants. If ecosystem activity for SKR distribution increases, it is expected to have a positive effect on Solana's price. Seeker has already recorded over 150,000 pre-orders, and shipments are reportedly underway to more than 50 countries.

The device is expected to target ecosystem expansion by coming with built-in blockchain-related features such as secure storage, a built-in dApp store, and an on-chain genesis token. The concrete vision for SKR will be unveiled at 'Breakpoint 2025' in Abu Dhabi later this month.