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According to BlockBeats, market reports indicate that the Invesco Galaxy Solana ETF has been registered in Delaware. This development marks a significant step for the ETF, which focuses on the Solana blockchain platform. The registration is expected to pave the way for further advancements in the ETF's offerings and accessibility.

According to PANews, Solana developer Max Resnick has submitted a proposal, SIMD-301, to introduce asynchronous execution capabilities to the blockchain. This proposal seeks to allow validator nodes to vote before the completion of block transaction execution, significantly reducing block confirmation times. It also sets the stage for future developments in multi-leader concurrency (MCL) and pipelined consensus mechanisms. Key changes outlined in the proposal include the removal of the BankHash field from the voting structure, the introduction of a static block validation check mechanism, and enabling validator nodes to vote after passing static checks without waiting for transaction execution to complete. The proposal emphasizes the need to prevent malicious nodes from submitting time-consuming transactions that could result in empty blocks. The asynchronous execution feature will be activated in phases through a feature flag and is expected to be deployed following the completion of the Alpenglow upgrade.

According to BlockBeats, Solayer announced on social media that its Mega Validator has been selected as the Marinade Select Validator for Solana's liquidity staking protocol, Marinade.

Key Takeaways:SOL futures open interest rises 12% to $7.54B, nearing all-time highs.Spot Solana ETF approval odds hit 91%, according to Polymarket.Weekly chart shows bull flag formation targeting $335.SOL price trading at $166.33, up 4.3% in the past 24 hours.Solana (SOL) is gaining bullish momentum, with its price rising 4.3% in the past 24 hours to $166.33 as of June 12, according to Binance. Traders and analysts are now watching closely as key metrics and ETF approval odds point to a potential breakout toward $300 and beyond.Futures Data Shows Growing Institutional DemandOpen interest in Solana futures surged 12% over the past 24 hours to $7.54 billion, a 20% increase from last week. This level is just 12% below the January 19 peak of $8.57 billion, signaling increased institutional participation despite potential liquidation risks.TVL and On-Chain Activity StrengthenSolana’s total value locked (TVL) rose to 56.8 million SOL ($9.1 billion), its highest level since June 2022. Meanwhile, daily active addresses on Solana jumped by 38.5% to 2.7 million, with leading DApps seeing 77%–300% growth in unique wallets, reflecting growing ecosystem engagement.91% Odds of Spot ETF ApprovalPolymarket data shows the odds of the SEC approving a spot Solana ETF by 2025 have climbed to 91%. Major firms—including VanEck, Grayscale, and Bitwise—have submitted filings, signaling strong institutional interest. Bloomberg analyst Eric Balchunas expects Solana to lead a potential “Altcoin ETF Summer.”Technical Chart Targets $335SOL/USD has formed a bull flag pattern on the weekly chart, suggesting a potential move to $335 if the breakout holds. The RSI has climbed to 51, reinforcing the bullish setup. Analysts note SOL must reclaim $190 as support to confirm further upside.If the ETF is approved and technical indicators align, Solana could see a continuation of its current uptrend—potentially targeting new all-time highs later this year, according to Cointelegraph.

Bloomberg’s Eric Balchunas predicts a wave of altcoin ETF approvals, positioning Solana as a front-runner.A surge in altcoin exchange-traded funds (ETFs) may arrive this summer, according to Eric Balchunas, senior ETF analyst at Bloomberg.In a recent social media post, Balchunas said the market should expect a new wave of ETF filings and approvals centered around leading altcoins — with Solana (SOL) likely to be at the forefront.Balchunas also mentioned the possibility of combination ETF products that include a mix of altcoins, further expanding investor access to diversified crypto assets through regulated instruments.

According to PANews, CoinShares has registered its Solana ETF in Delaware, as indicated by the state's entity filing information. 

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has asked potential Solana ETF issuers to submit revised S-1 forms by next week, as reported by three informed sources. Two of these sources mentioned that the SEC will provide feedback within 30 days of the S-1 submission. The agency has requested updates on physical redemption and how issuers handle staking, indicating a willingness to include staking as part of the Solana ETF.Another source estimated that these updates could lead to the approval of the Solana ETF within three to five weeks. James Seyffart from Bloomberg Industry Research expressed optimism about the approval happening this year, possibly as early as July. In a report released this week, Seyffart noted that the SEC might prioritize Solana's 19b-4 application and staking ETF sooner than planned. Issuers and industry participants have likely been collaborating with the SEC and its cryptocurrency task force to establish guidelines, although the final decision deadline for such applications is set for October.

According to BlockBeats, the Canary Marinade Solana ETF has been registered in Delaware. Marinade operates as a liquidity staking protocol within the Solana ecosystem.

According to PANews, Onchain Lens has reported that a whale has unstaked 74,341 SOL, valued at $11.24 million. The SOL had been staked for a period of two months.

According to PANews, Onchain Lens has reported that a major cryptocurrency investor staked 61,838 Solana (SOL) tokens approximately seven hours ago. The current market value of these tokens is estimated to be around $8.88 million.

According to Foresight News, data from Artemis reveals that over $420 million worth of assets were transferred to Solana from other blockchains in May. Notably, more than $297 million of these assets were moved from Ethereum to Solana.

According to Odaily, Solana co-founder Raj Gokal humorously remarked on MetaMask's announcement of support for the Solana network. He suggested that the move would be insignificant unless MetaMask changes its name from metamask.eth to metamask.sol.

According to PANews, a recent report by Standard Chartered suggests that the Layer 1 blockchain Solana may be evolving into a platform primarily focused on generating and trading meme coins. The report, dated May 27, highlights Solana's dominance in the high-volume, low-cost public blockchain sector, attributed to its fast and low-cost transaction confirmation architecture. However, this technical advantage has led to an unexpected consequence: a significant portion of Solana's activity, measured by application revenue or 'GDP,' is concentrated on meme coin trading.Standard Chartered notes that the meme coin craze has served as a stress test for Solana's scalability, but the volatility and speculative nature of these assets pose challenges. With a decline in meme coin trading volume, the bank warns that Solana may struggle to maintain its growth momentum.The report indicates that the meme coin frenzy on Solana has peaked, and the combination of declining usage and 'cheap' transactions is not ideal. The bank suggests that Solana should expand into other areas requiring high-volume, low-cost transaction processing, such as financial settlements, decentralized cloud computing, or real-time data exchange. These emerging fields align well with Solana's high throughput characteristics.Standard Chartered's report also mentions that these areas could include high-throughput financial applications and traditional consumer applications like social media. However, the bank cautions that scaling such applications could take years, potentially impacting Solana's market competitiveness, developer ecosystem, and platform reputation if progress falls short of expectations. This could lead to significant valuation pressure.The report predicts that Solana's performance will lag behind Ethereum over the next two to three years before catching up, at least in terms of intrinsic value.Solana has long positioned itself as a fast, low-cost Layer 1 public blockchain supporting smart contracts, directly competing with Ethereum. However, this advantage may be diminishing. Since Ethereum's Dencun network upgrade in March 2024, Layer 2 platforms have surpassed Solana in average transaction costs. This shift challenges Solana's value proposition as the 'cheapest high-throughput blockchain.' Standard Chartered points out that Ethereum's modular design, which layers data availability, execution, and consensus, allows for more efficient scaling while maintaining decentralization: 'The modular approach enables Ethereum to scale transaction processing at low cost (post-Dencun upgrade) while preserving the security advantages of a highly decentralized mainnet.'

According to BlockBeats, on-chain data analyst Murphy, referencing Glassnode data, reported a substantial decrease in SOL balances on centralized exchanges. Since early March this year, the SOL holdings have declined from 37.22 million to 27.01 million, marking a 27.4% reduction. This decrease brings the balance close to the lowest point observed in October 2022.

According to PANews, data monitored by crypto influencer wale.moca indicates that Raydium continues to hold a significant position in Solana's decentralized exchange (DEX) market. Raydium accounts for over 50% of the DEX trading volume, surpassing the combined trading volume of the next four exchanges. Additionally, the total amount of token buybacks generated through fees has reached $186 million, with $83 million accumulated since the beginning of this year.

According to Foresight News, data from Glassnode indicates that SOL is currently the only cryptocurrency among the top ten digital assets, excluding stablecoins, with a negative funding rate. The rate stands at -0.0002%, which is relatively minor but may suggest the early formation of bearish pressure.

Key Takeaways:Solana is forming a bull flag with a $260 breakout target.$180 resistance is the critical level to watch — without volume, the move may fail.Fractals and hidden divergences point to even higher targets ($260–$450).Failure to flip $180 may push SOL back to $140–$150 support.Solana Price Eyes Breakout as Bull Flag Fractal Predicts $260 SurgeSolana (SOL) is flashing bullish signals on the daily chart, but analysts agree that one key level — $180 — must flip to support before a breakout to $260 becomes viable.Currently trading around $182.93, SOL is testing overhead resistance for the second consecutive week. As Bitcoin (BTC) trades near its all-time high of $110,857, traders are betting on a potential capital rotation into altcoins, with Solana as a top candidate.Technical Setup: Bull Flag in FocusSolana’s price structure is forming a classic bull flag pattern, often seen as a continuation signal in strong uptrends. Here’s how the current chart breaks down:Current Price: $182.93Immediate Resistance: $180 (needs a daily close above)Short-Term Targets: $200 and $220Bull Flag Target: $260RSI: 64.3 — bullish, but not overboughtHowever, analysts are urging caution: trading volume has decreased during this consolidation phase, which may stall a breakout without renewed buying pressure.What Analysts Say: Fractals, Divergences, and Key ZonesPrice Fractal Points to $260Crypto trader Robert Mercer compared Solana’s current setup to the October 2024 breakout, when SOL surged past $180 and rallied to $260. He sees a similar fractal forming now, suggesting a breakout could repeat the pattern.Hidden Bullish Divergence Could Target $450Technical analyst Javon Marks highlighted a hidden bullish divergence on the 3-day chart — the same setup that triggered a 1,332% rally in 2024. If confirmed again, Marks sees a potential upside to $450 in 2025.Trader Sentiment: Wait for ConfirmationPopular trader XO is watching the $180 level closely. He advises waiting until SOL flips $180 into confirmed support before opening a long position.What Could Invalidate the Bullish Scenario?If Solana fails to decisively break above $180, analysts warn of a potential pullback to the $140–$150 range — a daily order block expected to offer higher-timeframe support. A breakdown here would invalidate the bull flag structure and delay the bullish continuation.

According to Foresight News, Phoenix reports that Canary has submitted an updated version of its spot Solana ETF S-1 application.