Solana Rises as Morgan Stanley Moves to Enable SOL Trading
Solana (SOLUSD) edged higher 2.53% over the last 24h, outpacing the broader crypto market, which is trading negative late on Thursday. Price data from crypto exchanges show that SOL is hovering around $140 as its trading volume surged by about 22% to $4.74 billion in 24 hours.
The price surge reflects institutional validation from Morgan Stanley, which is the first major U.S. bank seeking SEC approval for Solana-ETF, technical strength, and retail frenzy around meme coins.
Morgan Stanley has announced plans to launch a digital wallet. It also filed for a Solana ETF, following similar Bitcoin and Ethereum filings.
Morgan Stanley’s E*Trade platform will enable BTC, ETH, and SOL trading in H1 2026, democratizing access for its 7 million+ users. Initially limited to wealthy clients, SOL allocations are now recommended at 2-4% in portfolios.
The move signals growing institutional adoption, mirroring BlackRock’s 2024 Bitcoin ETF catalyst. Historically, ETF approvals has noted to drive demand by simplifying institutional exposure.
Crypto analysts said Morgan Stanley’s reputation adds credibility, potentially attracting conservative capital into SOL. With the improved fundamentals, SOL broke above its 50% Fibonacci retracement level of $131.03 and holds above the 30-day simple moving average of $128.72.
Traders interpret this as a consolidation phase as entry position, and crypto analysts said a sustained move above $145 could target $152. Meanwhile, Solana’s meme coin sector surged, with platforms like Pump.fun launching 10x more tokens daily than competitors. Leading meme coins gained up to 621% this week.
Retail traders flock to Solana for low-fee, high-speed meme trading, boosting SOL demand. However, meme-driven rallies are volatile – sharp corrections often follow parabolic moves. Naira Rallies Ease Corporate Foreign Payments Burden
