Solana (SOL) has captured headlines again as a series of major developments boost investor confidence and market sentiment. From ETF approvals in Canada to integration with OpenSea 2.0 and surging DeFi activity, the Solana ecosystem is riding a wave of momentum—and its native token is responding accordingly.
Canada Approves First-Ever Spot Solana ETFs
In a groundbreaking move for the Solana community, the Ontario Securities Commission (OSC) has approved several spot Solana ETFs, set to launch on April 16, 2025. This makes Canada the first country to greenlight physical Solana ETFs.
The approved issuers include:
- Purpose Investments
- Evolve ETFs
- CI Global Asset Management
- 3iQ
These ETFs will hold Solana in physical form, track various indices, and engage in staking to earn additional returns for holders—an important value proposition for long-term investors.
Meanwhile, the U.S. may soon follow. Major firms like VanEck, Grayscale, 21Shares, and Canary Capital have filed applications for SOL ETFs with American regulators. According to prediction markets like Polymarket, there’s currently an 82% probability of U.S. approval by the end of 2025.
Solana Now Live on OpenSea 2.0
Solana’s NFT ecosystem also got a boost as OpenSea 2.0 (OS2)—the next-gen upgrade to the top decentralized NFT marketplace—began supporting Solana token trading.
Currently available to a closed beta group, the feature will roll out to more users over the coming weeks. OpenSea acknowledged the significance of the move:
“This is a big milestone in our multi-chain journey. Solana has some of the most passionate users and builders in Web3.”
This integration strengthens Solana’s NFT presence and expands its reach across the broader digital art and collectibles market.
Price Outlook: SOL Rebounds 35% from Lows
Earlier this month, SOL dipped below the psychologically important $100 level, sparking fears of a deeper correction. However, bulls quickly stepped in, and the token has rebounded sharply—currently trading around $131, according to CoinGecko.
That’s a 35% rally from its recent bottom, signaling a strong recovery. Analysts now argue the $120–$130 range is an accumulation zone, and Solana may be prepping for a major breakout in 2025.
Popular crypto trader BitBull suggested SOL could mimic Ethereum’s explosive 2021 run, with a $300+ target. Meanwhile, Crypto Tony confirmed re-entering a long position above $125, a critical support level.
DeFi TVL Surges Past $7 Billion
Solana’s total value locked (TVL)—a key indicator of DeFi ecosystem strength—has also surged. After standing at $6 billion on April 9, the figure has now climbed above $7 billion, reflecting growing investor interest and activity in the blockchain’s DeFi applications.
It’s worth noting that TVL is calculated in USD, so increases in SOL’s price also contribute to this growth. Nevertheless, rising TVL is generally seen as a bullish indicator of network utility and user confidence.
With institutional interest rising, NFT infrastructure expanding, and DeFi metrics strengthening, Solana is regaining momentum. As Canada leads the way with the first spot SOL ETFs and price action shows resilience, all eyes are on how the ecosystem continues to evolve throughout 2025.
