Will SOL be able to rise this round? Can it reach 300 USD each?

Institutional funds are the most important supporting force for this round of SOL. The open interest of Solana futures at the Chicago Mercantile Exchange (CME) reached a historical high of $2.16 billion at the beginning of October, while the total assets under management of Solana's exchange-traded products (ETP) also exceeded $500 million. This indicates that large investors are actively positioning themselves, and their actions are generally more forward-looking.

Next, whether SOL can rise, we need to pay attention to several key events:
1. The market expects the approval of the Solana spot ETF, which, if realized, will bring significant liquidity. However, there is uncertainty regarding the ETF approval results, and if it is not approved, it may dampen market sentiment. The U.S. Securities and Exchange Commission (SEC) decision on the approval of the Solana spot ETF is the biggest potential catalyst in the near term. The market has high expectations for this; if approved, it will attract a massive influx of traditional financial capital, replicating the boom seen after the approval of Bitcoin and Ethereum ETFs.

2. Market breadth: A healthy bull market requires sector rotation. You need to observe whether capital can effectively rotate into other DeFi, Meme coins, and other projects within its ecosystem after the SOL breakout, forming a comprehensive ecological prosperity, rather than just SOL standing out alone.

3. Besides SOL itself, the health of its ecosystem is also crucial. Pay attention to fundamental indicators such as its DeFi TVL and the number of active developers.

4. If SOL can continue to break through and stabilize above 215, it will greatly enhance market confidence and open up space for a rise to the next resistance level $237 - $253.

The consensus in the market is that SOL will reach 300 USD by 2025. The path to achieving this may be divided into two steps: first, it needs to successfully break through the resistance zone around 250 USD, and then, leveraging ecological development and potential ETF benefits, it will launch an attack towards 300 USD.

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