Solana rebounds, next focus is on recovering to $250... ETF approval and institutional investor money will determine the outcome

Solana (SOL) recently rebounded to the $191 range, showing a short-term upward trend, but there are analyses that say whether it can recover to $250 depends on key factors such as ETF approval and institutional capital inflows.
On the 29th (local time), activity and fees on the Solana network decreased, but expectations for the approval of a physical ETF continue to attract investor interest.
While sustainability and staking inflation are cited as risk factors, if institutional funds begin to flow in in earnest, it is expected that this could act as a catalyst to push up SOL prices.
On the 26th of last month, Solana rebounded from $191 and rose 10.5% in one day, but it is still down 10% over the past two weeks, and Ethereum (ETH)
Investor sentiment improved over the weekend after U.S. President Donald Trump signaled his intention to avoid a shutdown of non-essential sectors of the federal government.
But Congress failed to secure the 60 votes needed to pass a temporary budget bill, leaving the possibility of an immediate and unpredictable economic shock, Yahoo Finance reported.
At the same time, the price of gold hit an all-time high of $3,833, reflecting concerns about the US financial crisis. While the cryptocurrency market rose overall, Solana was unable to maintain the $212 range.
The Solana network saw a 10% decline in transaction volume and a nearly 50% decline in fee revenue over the past week, while BNB Chain fees increased by 56% and Abitram and HyperEVM fees increased by 10% over the past week.
The number of futures contracts has more than doubled compared to the previous year, boosting competitiveness. Hyperliquid, Aster, edgeX, and other companies have also rapidly expanded their futures products.
This has put a strain on Lana's investment psychology. Previously, Solana had secured competitiveness based on DEXs such as Meteora, Raydium, and Pump, but
The current assessment is that the company was overconfident in its superiority in terms of fees and user experience. Market expectations are focused on the U.S. Securities and Exchange Commission (SEC)'s approval of a cash ETF, which is scheduled for October 10th.
Analysts are predicting a 95% or higher chance of approval, which could lead to a large influx of capital during the initial trading period.
Meanwhile, Solana was listed as the 24-hour leader on the cryptocurrency market price site CoinMarketCap as of 10:40 a.m. on the 30th (Japan time).
It is trading at $211.5, up 0.95% from the previous day and down 3.05% from a week ago.