Morgan Stanley has added Solana to its crypto product line, launching the staking ETP "MSOL" on NYSE Arca. Meanwhile, Solana's on-chain spot trading has remained high recently, with institutional products and on-chain activity both heating up, bringing SOL back into the market spotlight.
MSOL incorporated into the product system
Morgan Stanley stated that MSOL has been added to its approximately $14 billion product portfolio. This product is a collateralized ETP, with staking rewards distributed directly to investors. The report mentions that Morgan Stanley's first crypto ETP attracted $381 million in funding within a few months.
This means that Solana is gaining more product acceptance from traditional financial channels. For the market, the increased accessibility of SOL for institutional investors also further enhances Solana's visibility within the mainstream asset management system.
DEX trading volume has consistently ranked among the top.
In addition to institutional products, Solana's on-chain trading activity continues to be strong. According to SolanaFloor data, Solana has surpassed Bybit, Coinbase, and Kraken in weekly DEX spot trading volume for four consecutive weeks, second only to Binance.
For a public blockchain known for its high throughput, maintaining a consistently high level of decentralized transaction volume indicates that network usage has not cooled significantly. The report also mentions that Strategy's exposure has been listed on Solana through Sunrise, issued by Backpack Securities, and its on-chain tokenized financial products continue to expand.
- MSOL listed on NYSE Arca
- The product is a pledged ETP.
- Solana's weekly DEX spot volume ranked second for four consecutive weeks.
SOL tests the $76 mark
In terms of price, SOL is currently trading at approximately $74.31, and the market is watching whether it can regain the $76 level. This level is close to the 50-day exponential moving average and is a closely watched resistance level in short-term trading.
If this level is effectively broken and turns into support, the report suggests the upside target is around $92.46 and $97.37. If the price continues to be resisted, the downside support levels are roughly at $70 and $64.
Overall, the expansion of institutional offerings, increased on-chain trading activity, and the rise in tokenized assets are providing new market catalysts for Solana. Whether SOL can continue its rebound depends on whether the price can break through the current resistance level.
