Solana News Today: Solana Nears $200 as Bullish Indicators DeFi Growth Visa Adoption Drive 1.96% 24-Hour Gain

SOL has approached the $200 level, gaining 1.96% in the past 24 hours, as bullish technical indicators and on-chain activity suggest a potential breakout above $215. The cryptocurrency, currently valued at $199.81 with a $107.51 billion market cap, is supported by a key level at $192 and shows rising momentum through a 50-day moving average of $186.40. A Relative Strength Index (RSI) of 63 highlights short-term bullish energy without overbought conditions, while the MACD histogram’s green bars confirm upward pressure. Analysts note that a close above $202 could catalyze a test of $212–$215 resistance, though a breakdown below $192 may retest $185 support.

The removal of long-term selling pressure has bolstered Solana’s outlook. The FTX bankruptcy estate’s court-approved liquidation of remaining SOL holdings concluded recently, eliminating a major overhang that had historically pressured the asset. Meanwhile, the Solana Foundation adjusted validator incentives to prioritize staking participation and uptime efficiency, reducing passive token emissions while strengthening network security. These changes aim to align validator rewards with protocol stability, addressing concerns over inflation-driven supply dilution.

DeFi activity on Solana has surged, with Jupiter DEX reporting over $7 billion in weekly trading volume. The decentralized exchange aggregator serves as a critical hub for stablecoin swaps and memecoin trading, reinforcing Solana’s dominance in decentralized liquidity. Institutional and derivatives traders have amplified participation, contributing to a 24.76% spike in trading volume to $14.2 billion in the last 24 hours. This surge reflects growing confidence in the chain’s capacity to handle high-volume transactions efficiently.

Visa’s expansion of its Solana-based stablecoin settlement pilot further enhances the blockchain’s utility. The payment giant has moved its EUR and USD corridors to a production phase, enabling near-instant fiat settlements for merchants and financial institutions. This development underscores the network’s viability for real-world adoption, with USDC (MATIC) settlements on Solana now operating at scale. The integration aligns with broader efforts to bridge blockchain infrastructure with traditional financial systems, potentially driving demand for the native token.

Market participants are closely monitoring on-chain metrics for signs of sustained strength. The ascending channel pattern, combined with rising institutional interest, suggests Solana remains well-positioned to challenge higher price levels if volume trends persist. However, caution is advised amid broader market volatility, with the $192–$185 support corridor serving as a critical benchmark for near-term stability. The interplay of technical conditions, regulatory developments, and ecosystem growth will likely determine whether the $215 target becomes a reality in the coming weeks.