Demand for Solana (SOL) has already surged, as institutional investors bought shares of Grayscale Solana Trust (GSOL) at a huge premium. On March 8, GSOL shares were trading at a premium of 870%, at $540, compared to SOL's market price at the time1. This indicates strong institutional interest in Solana, as the premium reflects the limited means these investors have to gain exposure to Solana.

The high premium also indicates that investors view SOL as undervalued, with predictions that it could rise significantly during this bull cycle1. The Solana Network itself has gained traction, with an all-time high in daily new addresses and growing interest in the DeFi2 scene.

At the time of writing, SOL is trading at around $152, showing a positive trend over the past 24 hours2. This interest and investment in Solana highlights its potential as an important player in the cryptocurrency market.