- Solana rallied on ETF approval hopes and strong institutional backing.
- Arbitrum jumped amid Robinhood partnership speculation and tokenized stock launches.
- Sei broke out of a long-term downtrend, boosted by regulatory praise and growing DeFi activity.
The crypto market is in green once again as Bitcoin soared past $108K. Three tokens – Solana (SOL), Arbitrum (ARB), and Sei (SEI) – have emerged as the clear frontrunners in today’s rally, printing substantial gains in the past 24 hours.
Solana (SOL): ETF Momentum
Solana surged past the $151 mark today, gaining nearly 2% in the past 24 hours as Nate Geraci, president of The ETF Store, pointed to the SEC’s impending decision on the Grayscale Digital Large Cap ETF (GDLC).The decision could come as early as this week.
The GDLC includes SOL among its holdings, along with Bitcoin, Ethereum, XRP, and Cardano. A green light for GDLC would not only signify broader institutional acceptance of a basket of crypto assets but also pave the way for future spot ETFs that could focus on individual altcoins like Solana.
Moreover, Polymarket shows a whopping 91% chances of approval for a spot Solana ETF in the United States in 2025..
Arbitrum (ARB): Robinhood Speculation
Arbitrum emerged as today’s top-performing altcoin, climbing more than 18% and boasting a staggering 466% increase in trading volume. At the heart of the surge is mounting speculation surrounding a potential partnership with Robinhood.
Fueling the rumors, Robinhood teased a fireside chat scheduled for June 30 featuring Ethereum’s Vitalik Buterin and Offchain Labs’ A.J. Warner, an event traders interpret as a clear signal of collaboration.
Related: Over $150 Million in Token Unlocks Scheduled This Week for Altcoins SUI, ENA, and OP
The excitement builds on a May Bloomberg report that named Arbitrum as a possible infrastructure provider for Robinhood’s planned European tokenized stock platform.
This narrative gained further weight when Gemini announced it had launched tokenized MicroStrategy stock trading via Arbitrum, reinforcing the network’s growing foothold in real-world asset (RWA) integration.
Sei (SEI): Technical Breakout
SEI posted a nearly 2% daily gain and is now trading around $0.2999 after hitting a high of $0.3123. This price movement follows a breakout from a 7-month descending channel on June 28, marking a 28% weekly gain.
The token’s strength is a result of a robust technical structure, with the MACD showing a bullish crossover and the RSI at 70.63, indicative of strong momentum but not yet in dangerously overbought territory.
ARB Daily Chart with RSI and MACD
Regulatory validation has also played a pivotal role in SEI’s rise. The Wyoming Stable Token Commission awarded the Sei blockchain a perfect 30/30 evaluation score, outperforming even Ethereum and Solana.
Related: Divergence in Crypto Sentiment Pits a Bullish XRP Against BTC and ETH
Also, as per DefiLlama, Sei’s Total Value Locked (TVL) is approaching $1 billion, while monthly DEX volume surged by 200% to reach $327 million daily.
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