Institutional Bets on Solana Amid Cooling Network Activity and Rising Altcoin Shifts

Solana (SOL) has seen a significant decline in trading volume, dropping over 20% from a recent peak of $12.60 billion to $5.72 billion. This drop has raised concerns among investors and analysts about the potential for a bearish trend in the near term. Solana’s price currently stands at $216, and the reduced volume suggests that bearish forces are actively working to prevent a rally toward the $300 level. Analysts point to declining active addresses as another indicator of weakening network engagement, with the count dropping from over 20 million to 17.98 million. This trend implies that user activity and interest are cooling, which could impact the token’s ability to maintain upward momentum.

On-chain metrics further highlight the subdued sentiment. Solana’s daily chart shows that the price faced resistance at $222.49, triggering a pullback that has dimmed its chances of reaching $300. The technical analysis suggests that if selling pressure continues, the price could fall toward $190.30. However, a resurgence in trading volume and buying activity could potentially push the price above $225, leading to a retest of the $300 threshold. The current price level of $209.30 places the token above key moving averages, with the 7-day simple moving average at $206.70 providing a near-term support level. Analysts are closely monitoring the $218 resistance level, as a breakout could open the door to a rally between $230 and $250.

The broader market context also plays a role in Solana’s performance. With growing speculation around the approval of a Solana spot ETF in the U.S., institutional interest appears to be increasing. Jamie Elkaleh, CMO of Bitget Wallet, noted that ETF conversations are amplifying interest in Solana, especially with the evolving regulatory environment in the U.S. favoring digital assets. Additionally, Solana’s recent milestone of Real World Assets (RWAs) surpassing $500 million underscores the growing adoption of tokenized traditional assets on the platform. Daily decentralized exchange (DEX) volume on Solana has also been robust, reaching nearly $7.93 billion—outpacing Ethereum in some periods.

Despite these positive developments, traders are adopting a cautious stance. Short-term indicators such as a slightly bearish MACD histogram suggest that volatility remains a concern. However, the Relative Strength Index (RSI) at 56.27 indicates that Solana still has room for upward movement before reaching overbought territory. Market watchers believe that a successful ETF approval could unlock significant inflows into Solana, strengthening its long-term market structure and positioning it as one of the strongest altcoins to buy ahead of the next wave of institutional products.

While Solana remains a focal point, some investors are redirecting capital to other high-potential altcoins. For example, Rollblock (RBLK) has emerged as a notable project, offering a 2,000% return forecast in 2025. This shift in investment priorities reflects a broader trend of capital rotation, with traders seeking higher returns from smaller-cap projects. Rollblock’s strong utility, compliance, and revenue-sharing model have made it an attractive option for those looking to diversify their crypto holdings.