Solana has been one of the top-performing major cryptocurrencies this week, defying the border market cooldown. A mix of institutional interest, ETF anticipation, and key adoption milestones has pushed SOL’s price higher.
Summary
- Solana has been one of the top-performing major cryptocurrencies this week, with its price climbing roughly 14%.
- Institutional interest in SOL is rising, with momentum for Solana-based ETFs also building.
- Technical analysis shows Solana price trading in an upward channel above key moving averages.
Solana’s price has been trending upward over the past week, with the asset posting double-digit gains and strengthening its bullish outlook. According to crypto.news market data, SOL (SOL) is trading at around $211.7 at the time of writing.
While the token is down about 0.67% on the day, its performance over the week has been strong. It recently climbed to a multi-month high above $217, bringing weekly gains to roughly 17%.
This extends its month-long positive run, with SOL now up about 20% over the past 30 days despite occasional pullbacks. But what’s driving the uptick?
Institutional demand fuels Solana price climb
Institutional interest in Solana is rising with major corporate treasuries now building significant exposure. According to data from CoinGecko, public companies currently hold over 4.2 million SOL, worth roughly $879 million. The companies including, Upexi, DeFi Development Corp, and Exodus Movement, added nearly 770,000 SOL to their holdings in the last month. This puts Solana in a similar company with Bitcoin and Ethereum of public treasury adoption.
Several other firms, including Pantera Capital, are also planning to raise funds in the billions for their various SOL-focused treasury strategies, as recently reported by Crypto.news. These are expected to invest across tokens, early-stage projects, and ecosystem infrastructure, adding weight to institutional backing for SOL.
Growing ETF momentum for SOL
Momentum is building around Solana-based ETFs. Applications for SOL ETF from issuers such as Bitwise and 21Shares are now pending with US regulators, with decisions expected by October. Solana is frequently mentioned among the next likely assets to follow Bitcoin and Ethereum in receiving ETF approvals, especially due to its strong developer activity and growing adoption.
Meanwhile, Solana’s on-chain activity continues to strengthen. The network’s DeFi TVL has risen to $11.5 billion, closing in on its all-time high of $11.7 billion set in January of this year. Rising TVL suggests increasing user demand and capital inflow across Solana-based DeFi protocols.
Policy and External Catalysts
The U.S. Department of Commerce has taken a rare step forward by publishing its Q2 2025 GDP data directly onto public blockchains, including Solana, with the goal of making economic reporting global, tamper-resistant, and cryptographically verifiable.
This initiative was enabled through collaborations with leading exchanges Coinbase, Gemini, and Kraken along with oracle networks Pyth and Chainlink, to deliver data in a format that can be ingested by smart contracts deployed on Solana.
By embedding GDP data on Solana, the network now plays a role in securing and distributing key government economic metrics. It positions Solana not just as a financial or DeFi platform, but as part of emerging digital public infrastructure with real-world utility, potentially spurring more institutional interest and developer integration going forward.
With these fundamental drivers, Solana price momentum is looking strong.
SOL price technical outlook
On the daily chart, Solana has been moving in an upward channel. The short-term trend remains positive as price continues to trade above key moving averages. The 20-day SMA sits around $192, providing the first layer of support if a pullback deepens.
Momentum indicators show a mixed picture. The RSI is at 58, not yet in overbought territory but suggesting that buying pressure has cooled slightly compared to earlier in the week. This leaves room for further upside if bulls regain strength.
If buyers push higher, the next resistance to watch is the $217 zone, followed by a possible test toward $225. On the downside, support lies at $192, with stronger levels at $182 and $168 if selling accelerates. Overall, Solana price maintains a bullish structure, but near-term consolidation is possible after the sharp run-up.
