Solana is making waves in the crypto market again, with strong price action and renewed institutional enthusiasm setting the stage for another leg up.
Over the past day, SOL posted modest gains, reaching around $164 amid surging trading activity. But it’s not the price alone that has investors watching—it’s the broader signals pointing to rising demand.
Market data shows that Solana’s open interest and trading volumes have ballooned in tandem, a combination that often precedes sharp price movements. In just 24 hours, nearly $8 billion worth of SOL changed hands, while more than $23 million was liquidated in the futures market—most of it from short positions. This is clear evidence that traders were caught off guard by the upward pressure.
Behind the scenes, big money is moving in. Upexi Inc., a publicly listed firm, just made headlines by announcing it had raised $200 million specifically to grow its Solana treasury. With plans to amass over 1.6 million SOL tokens, valued at $273 million, Upexi is signaling long-term conviction. CEO Allan Marshall confirmed that the acquisition is scheduled to be completed by mid-July.
This aggressive accumulation mirrors a broader trend. Solana is increasingly being viewed as a viable treasury asset, with multiple firms—such as SOL Strategies—already allocating capital toward the ecosystem. The surge in corporate adoption is driving a fresh wave of demand, putting pressure on supply and helping sustain Solana’s bullish trajectory.
Looking ahead, technical analysis suggests that SOL could be heading for a test of the $180 zone, especially after breaking through resistance at $158. With Bitcoin trading above $119,000 and overall market sentiment leaning bullish, Solana seems poised to ride the momentum.
Whether this trend holds depends on broader macro conditions and whether institutional support continues to flow in. But for now, Solana is once again standing out as one of the most watched assets in the crypto space.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.