Solana News Today: Fidelity and Reliance Back Solana as Analysts Target $230 by Year-End

Solana's ecosystem is surging amid a confluence of institutional adoption, technical optimism, and memecoin innovation, with analysts eyeing a potential $230 price target for the network's native token (SOL) by year-end. The blockchain's rapid integration into mainstream finance, driven by firms like Fidelity and Reliance Global Group, has bolstered liquidity and reinforced its position as a high-performance platform for decentralized finance (DeFi) and real-world assets (RWAs), according to Fidelity expands into Solana and a Reliance adds SOL release. Meanwhile, on-chain metrics and bullish chart patterns suggest further upward momentum, while Solana-based memecoin infrastructure continues to evolve despite a cooling market, as outlined in a HYPE breakout analysis, a Cointelegraph report on Pump.fun acquires Padre, and a Solana price forecast.

Technical analysts highlight a critical breakout scenario for HYPE, a token currently trading near the upper boundary of a falling wedge pattern. A breach above the $41–$42 resistance zone could trigger a 54% rally to $61.5, supported by strong volume and liquidation heatmaps showing clustered short positions in the same range, as detailed in the crypto.news HYPE analysis. The Aroon Up indicator at 71.4% and RSI above the neutral 50 level further signal buyer dominance, with CoinGlass data suggesting a potential cascade of short liquidations if the price surges past this threshold.

Institutional interest in Solana is accelerating. Fidelity's entry into the network—leveraging its $16 trillion in assets—has injected fresh liquidity, while Reliance Global Group recently added SOL to its digital asset treasury, citing the blockchain's 65,000+ transactions per second (TPS) speed and low fees as key advantages. DeLeion Capital has launched a quantitative strategy targeting daily returns of up to 1.55% for SOL investors, capitalizing on the token's 24-hour trading volume of $4.9 billion and recent price action above $204, as DeLeion Capital highlights in its recent note.

The memecoin sector, though tempered from its 2024 peak, remains a focal point of Solana's growth. Pump.fun, the network's largest memecoin launchpad, acquired Padre—a multichain trading terminal—to enhance liquidity and user experience, despite a 30-day market cap decline of over 21% for the sector, according to the Cointelegraph coverage. While Pump.fun's market share has fallen to 44% from a high of 75%, the platform continues to innovate with cashback rewards and cross-chain support for tokens like Tether's USDt and XAUT.

Looking ahead, Solana's price trajectory appears poised for expansion. DefiLlama data shows total value locked (TVL) rising to $11.83 billion, nearing September's record high of $13.22 billion, while CryptoQuant notes increased whale activity and buy dominance in the market; an FXStreet analysis earlier highlighted the potential for a move toward $230 if SOL clears the 50-day exponential moving average ($202.88) with the RSI at 52 indicating sustained bullish momentum. Analysts at AltcoinGordon have similarly flagged an ascending triangle pattern on weekly charts, projecting a $320–$500 range if institutional adoption continues.

As Solana bridges institutional and retail markets, its dual focus on scalability and innovation positions it to capitalize on both DeFi's expansion and the lingering appeal of memecoins. With Fidelity's retail access and Hong Kong's approval of Solana spot ETFs, the network's adoption curve shows no signs of slowing.