SOL rallies above $145 amid institutional demand and growing global adoption
Solana’s native token SOL soared 7.63% to $145.47, driven by record-breaking CME futures volume and a wave of renewed bullish sentiment across the crypto market. The price movement reflects rising institutional interest, combined with fresh developments in global blockchain adoption—particularly in Central Asia.
Institutional Demand Surges: CME Futures Hit 1.75M Contracts
A major driver behind SOL’s rally was the CME futures volume, which surged to an all-time high of 1.75 million contracts, according to Glassnode. This milestone represents the largest trading activity since SOL futures were launched on CME in March, pointing to aggressive positioning by institutional investors.
This volume spike coincided with a sharp intraday rally, where SOL jumped from $133.55 to $144.10, supported by significant trading activity during the 17:00 to 22:00 timeframe.
Technical Outlook: Key Support and Resistance Zones
- Support: A high-volume support level was formed at $132.43, reinforcing the base for SOL’s latest rally.
- Short-Term Support Band: Between $143.60 and $143.80, buyers actively stepped in, confirming a solid floor.
- Resistance: Immediate resistance emerged at $144.30, with further pressure around $146.55, which halted the rally temporarily.
- Price Range: The asset moved within a $15.94 trading band, peaking at $146.90 before a V-shaped recovery formed between $144.88 and $143.59.
SOL now trades within a consolidation zone between $143 and $146, with traders watching closely for a breakout above $146.55.
Solana Gains Ground in Central Asia
In a separate development, Kazakhstan announced the launch of the Solana Economic Zone (SEZ KZ)—a first-of-its-kind blockchain initiative in Central Asia, supported by the Solana Foundation and government agencies. The initiative focuses on three strategic pillars:
- Tokenized Capital Markets – Piloting digital assets with AIX, Intebix, and Jupiter
- Web3 Talent Development – Partnering with universities to train blockchain engineers
- Startup Onboarding – Attracting international Web3 firms through incentives and regulatory clarity
This move further positions Solana as a global leader in blockchain adoption, with growing use cases beyond DeFi and NFTs.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.