Solana News Today:

Millions of Solana (SOL) holders, including high-net-worth individuals, are shifting capital toward a new crypto streaming token, $GGs, as part of a broader trend to diversify risk during a period of volatility. Concurrently, Solana-based memecoins have experienced a downturn amid broader market corrections. This shift reflects a growing interest in tokenized entertainment and gaming ecosystems, particularly those built on the Base network, as traders seek alternative avenues to engage with the blockchain space.

The new token, $GGs, is part of the Based Eggman project, which has attracted attention for integrating Web3 gaming, streaming, and trading functions into a single platform. The token is being used within on-chain games, live-streaming content, and community challenges. What sets $GGs apart is its accessibility: users can participate with minimal onboarding, and the token’s utility spans liquidity, payments, and platform features. The tokenomics are structured to support long-term engagement, with 60 percent of the 389 million token supply allocated to presale buyers, and utility spread across multiple use cases. The $GGs crypto streaming platform recently launched its ICO, marking the beginning of its presale phase.

The move toward $GGs has been amplified by traders from the Aerodrome Finance (AERO) ecosystem, which has established itself as a hub for liquidity and trading on the Base network. These traders are increasingly viewing $GGs as a complementary asset, especially for those seeking exposure to gaming culture in the Web3 space. The interplay between established liquidity platforms and emerging presale tokens highlights the maturation of the Base ecosystem, where infrastructure and entertainment converge. This synergy has positioned $GGs as one of the more active presale projects in 2025.

At the same time, Solana-based memecoins have faced a correction following a period of speculative euphoria. The downturn coincides with broader market volatility and a decline in onchain activity on the Solana network. Over the past 30 days, Solana’s transaction count has dropped by 99%, while the number of active addresses has fallen by 22%, according to Nansen data. Decentralized exchange (DEX) volumes on Solana also declined by 65% to $10.673 billion in the last week, according to DefiLlama. These metrics suggest that despite Solana’s strong technical indicators and recent price rebound, onchain engagement remains a concern for long-term holders.

Despite these onchain challenges, Solana’s price action suggests a potential for significant upside, particularly if key resistance levels are broken. The token has formed a bullish megaphone pattern on weekly charts, which could lead to a parabolic rise if the price breaks above the upper trend line near $330. The relative strength index has increased from 49 to 61 since early August, signaling growing bullish momentum. Additionally, Solana’s open interest (OI) in futures markets has surged to a record high of $13.68 billion, indicating strong speculative interest. High OI levels are often a precursor to significant price movements, as seen in previous quarters where a 188% increase in OI led to an over 103% price gain.

Analysts have noted that Solana’s technical outlook could be further supported by the Alpenglow upgrade, which slashed transaction finality from 12.8 seconds to 150 milliseconds, increasing throughput to 107,540 TPS. This upgrade has enhanced Solana’s competitiveness against Ethereum and could drive institutional adoption and DeFi growth. However, the broader market environment, including weak onchain metrics and a bearish sentiment toward memecoins, suggests that the path to new all-time highs remains uncertain. Traders are advised to approach the market with caution and conduct thorough due diligence.

Source:

[1] Solana Charts $1,000 SOL Price Target, Open Interest Hits All-time Highs (https://cointelegraph.com/news/solana-charts-1000-sol-price-target-open-interest-all-time-highs)

[2] Aerodrome Finance (AERO) Traders Move to Buy Based Eggman ($GGs) (https://www.digitaljournal.com/pr/news/indnewswire/aerodrome-finance-aero-traders-move-1893484673.html)