From the perspective of regulatory trends, the U.S. Securities and Exchange Commission is requiring institutions applying for the Solana spot ETF to submit revised documents in the short term, mainly needing to adjust the wording regarding staking terms and physical redemption mechanisms. This move indicates that regulators are attempting to incorporate Solana's staking characteristics into the compliance framework rather than directly circumventing the issue. Industry insiders predict that after completing the necessary document updates, the Solana ETF may receive approval in the next three to five weeks, and Bloomberg analysts even hold a more optimistic view, believing that approval in July is not impossible. If the ETF is approved, it could lead to a large influx of funds, providing strong support for the price of SOL.

On the technical side, Solana is preparing to launch a major upgrade. The Firedancer validator client, developed by Jump Crypto, is set to go live, which is expected to boost the network's processing capacity to millions of transactions per second. Meanwhile, the Runtime v2 upgrade plan will introduce support for the Move language and optimize the dynamic memory allocation mechanism, which is expected to address performance bottleneck issues in high-frequency trading environments. If these technical upgrades are successfully implemented, they will significantly enhance the performance and stability of the Solana network.

In terms of ecological expansion, Solana has made significant progress. Visa has expanded its USDC settlement service to the Solana network, and Shopify plans to integrate Solana Pay features, enabling numerous merchants to use a zero-fee Web3 native payment method. Meanwhile, MakerDAO is considering building a new DeFi lending protocol based on Solana's SVM. Additionally, the AI agent protocol Virtuals Protocol has expanded to the Solana ecosystem and plans to convert 1% of transaction fees into SOL reserves, further enriching Solana's application scenarios.

Market data shows that the open interest of SOL futures has reached a two-year high, reflecting an increase in market activity and a shift in investor sentiment towards optimism. Despite short-term price fluctuations, SOL has still recorded a cumulative increase of 15% over the past month. Overall, Solana has shown strong momentum recently, with positive developments in various aspects, making it worthy of continued attention from investors regarding its subsequent dynamics.