Solana (SOL) had a rough past month, dipping by 14.3% while Bitcoin (BTC) and most of the other leading altcoins recorded gains or smaller losses.

With the potential for an altcoin season to emerge this summer and SOL ETFs to launch this year, the token has a solid chance to reverse the trend and explode in value. 

Meanwhile, a Solana-based token is also generating bullish forecasts. Solaxy (SOLX), a Solana Layer 2 project, will launch on exchanges next week when its presale wraps on Monday. With the presale having raised over $50 million, many are expecting the token to see big gains.

Bloomberg’s Analysts Share Bullish SOL ETF Predictions as Crypto Market Heats Up

As a blockchain, Solana is sending positive signals, with its active daily user count reaching 4.2 million, an 18.9% increase over the past month, according to Token Terminal data.

At the same time, its native token, SOL, has struggled to make gains, dipping to $145.88 on June 14th after it was priced at $179.66 in mid-May.

However, Solana could be in for a massive influx of investments as Bloomberg’s senior ETF analyst Eric Balchunas expects Solana to lead the way in what he calls an “alt coin ETF summer.”

Placing the likelihood of a SOL ETF being approved this year at 90%, the analyst believes it could get an approval before Litecoin (LTC), even though the LTC ETF filings took place a week before the SOL ETF ones.

His colleague, James Seyffart, informed his audience that all seven potential Solana ETF issuers submitted updated documents that include staking, at the request of the SEC.

UPDATE: Multiple stories broke the news earlier this week that the SEC had reached out to issuers requesting them to submit updated documents for their Solana ETFs & to include staking. As of 5 PM EST we have 6 of the 7 hopeful Solana ETF issuers that have submitted those S-1’s pic.twitter.com/WqPI2jf2CW

— James Seyffart (@JSeyff) June 13, 2025

If approved, the SOL ETFs could significantly boost institutional adoption of the token. This could potentially push its value and Solana’s on-chain metrics closer to their January levels. Back then, SOL was valued around $250, with over 5 million average daily Solana users in the month’s second half.

Besides the bullish news surrounding institutional investments, SOL’s technical indicators suggest it’s in a nearly perfect spot to capitalize on the expected buying pressure.

Its long/short ratio surged from 2.61 on June 11th to 3.81 today, showing that 79.23% of traders expect it to perform well in the short term. 

Solana’s 50-day Simple Moving Average (SMA) of $162.28 is also inching closer to its 200-day SMA of $162.73. A sustained move above the converging key averages could trigger additional buying interest, especially if positive catalysts continue to align.

Regarding key averages, crypto expert Lark Davis highlighted that SOL is retesting the 50-day Exponential Moving Average (EMA). He is confident that SOL can surge to $200, stating that the market is already set up for a massive altcoin season.

Many investors looking for outsized gains are now looking to Solaxy, a project that’s building on Solana’s foundation through its upcoming Layer 2 release.

Will Solaxy Explode Onto Exchanges Next Week? Presale Raises $50 Million

Solaxy has become one of the largest ever crypto presales, raising $50 million over the past few months. The presale will wrap up tomorrow (Monday June 16), leaving under 24 hours to buy at a fixed price before the token launches on exchanges.

As Solaxy’s launch approaches, Solana users have much to look forward to, especially with the projects upcoming Layer 2 solution. Designed to address Solana’s scalability pain points, the Layer 2 leverages rollups to bundle transactions and deliver aggregated data to Solana’s mainnet.

Beyond that, Solaxy intends to launch an entire ecosystem, complete with a block explorer, DEX, and a token launchpad. Plus, it will feature cross-chain swaps between Ethereum, Solana, and Solaxy, creating new opportunities for token developers and investors.

That’s why it’s no wonder experts from 99Bitcoins, who expect it to score major exchange listings immediately after launch, see a 100x potential in SOLX.

Early backers can secure their share of the ecosystem’s utility token, SOLX, for just $0.001758 per token.

To strengthen the token’s value proposition, the team behind SOLX burned over 35 billion SOLX tokens, underscoring their focus on real utility and sustainable growth.

With such a huge amount raised and investor confidence skyrocketing, Solaxy looks set for significant gains when it makes its exchange debut next week.

Visit Solaxy Presale

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