Solana price rises 4.8% as VanEck files SOL ETF update

Solana price rose 4.8% over the past 24 hours to trade at $204.72 at 6:10 a.m. EST, while trading volume fell 9% to $11.6 billion.

This comes as VanEck filed its Fifth Amendment for its spot Solana ETF (VSOL) with the US Securities and Exchange Commission, introducing a 0.30% management fee and a regulated wagering feature that is the first of its kind for a US digital asset fund.

🚨JUST IN: @vaneck_us has filed an updated S-1 for his spot @Solana ETF, where the management fee is set at 0.30%.

The filing adds details on staking and notes plans to potentially delegate SOL to multiple third-party staking providers, with allocations based on performance, uptime,… pic.twitter.com/lR02YtK40U

— SolanaFloor (@SolanaFloor) October 14, 2025

The company plans to use one or more third-party staking providers, including SOL Strategies, to manage the Solana delegation and return generation.

Meanwhile, Gemini Trust Company and Coinbase Custodian will be the custodians of the ETF and store the fund’s Solana shares in an insured and regulated manner. VanEck’s staking model includes a 5% liquidity buffer to manage redemption risks during market volatility.

In other developments, Fantasy Sports crypto platform Sorare is preparing to migrate from Ethereum to Solana after 6 years.

✨We are moving to @solana 🚀

Our goal is to accelerate our vision of an open and on-chain sports platform for Sorare, where speed, liquidity and usability are at the core of a new digital sports economy.

It’s not a replacement, it’s an upgrade

A thread 🧵 pic.twitter.com/VVhRik7gU5

— Sorare (@Sore) October 8, 2025

According to Sorare CEO Niclas Julia, he remains confident in Ethereum even as the company prepares to migrate to Solana, which he calls an “upgrade.”

Solana has just climbed back above the $200 level as it continues its recovery from Friday’s sudden crash that pushed prices below $170.

Even as the price rises, Solana’s on-chain metrics show a continued lack of bullish momentum. For example, decentralized applications (dApps) on Solana generated $35.9 million in weekly revenue, while network costs totaled $6.5 million, which is a 35% decrease from the previous month, according to DefiLlama facts.

Solana Price Regaines Equilibrium After Channel Outage

The SOL Award has been trying to recover after a recent break from the rising channel pattern.

Starting in June, Solana price traded within this ascending channel, marking a steady bullish trend that started around mid-June 2025. SOL’s price respected both upper and lower channel boundaries, forming a consistent series of higher highs and higher lows.

However, the recent selling pressure, due to the sudden crash, briefly pushed Solana’s price below the lower trendline, testing the strength of bulls around $175-$180.

Currently, Solana is trading near $204.72, showing resilience as it recovers from the 200-day Simple Moving Average (SMA) ($173), a crucial long-term support. This recovery also comes with an attempt to reclaim the 50-day moving average back to $217, a level that now acts as short-term resistance.

The Fibonacci retracement places the SOL around the 0.382 ($205) retracement level, suggesting a potential turning point where a decisive move could set the tone for the next trend.

SOL technical indicators point to consolidation before the next wave

The Relative Strength Index (RSI) is hovering around 46.47, a neutral zone indicating that neither buyers nor sellers are in complete control. Should the RSI rise above 50, this would strengthen bullish momentum, while a dip towards 40 could signal a return to downward pressure.

Meanwhile, the Chaikin Money Flow (CMF) indicator is slightly positive at +0.18, indicating mild capital inflows into Solana. This indicates that buying interest remains present even after the recent correction.

Given the bullish signals, the short-term outlook for Solana’s price leans towards cautious optimism. If SOL price stays above the $190 level and successfully clears the resistance at $217, it could head towards $223 and eventually retest $253.

Conversely, the inability to hold above $190 could lead to another dip towards $175 or even the Fibonacci level of 0.618 at $175.23.

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