Solana News Today: SOL Price Climbs Toward $400 Backed by Axiom’s $200M Record Run

SOL price climbed toward $400 in late August 2025, driven by Axiom Exchange’s record-breaking revenue and increased whale activity [1]. The Solana-based trading bot reached $200 million in revenue on August 4, just 73 days after crossing the $100 million threshold [1]. This achievement, reported by SolanaFloor, highlighted the growing traction of the Solana ecosystem and reinforced market optimism [1].

Axiom Exchange’s success has positioned it as the fastest application in the crypto sector to reach $200 million in revenue. Previously, it was also the fastest to reach $100 million in 129 days [1]. The rapid growth of the platform is seen as a testament to Solana’s scalability and appeal to traders and developers [1].

The Solana Foundation’s official account shared a brief post referencing the current period as “Revenue szn,” emphasizing the strong momentum within the ecosystem [1]. Analysts noted that high network usage often correlates with better price performance, and Axiom’s growth is being viewed as a bullish sign for the SOL token [1].

However, the price of SOL still faces resistance near the $189 level. Crypto analyst Ali identified this as a key breakout point, with a successful move above it potentially leading to a rally toward $350 to $400 [1]. Despite this optimism, whale activity has raised concerns. Multiple large holders, including CMJiHu, 5PjMxa, and HiN7sS, deposited significant amounts of SOL onto exchanges in the days leading up to the price rally, totaling over 226,000 SOL, or approximately $40 million [1].

Galaxy Digital also added to the selling pressure by transferring 224,000 SOL over the weekend [1]. Lookonchain tracked these movements, highlighting the potential for short-term volatility as large holders liquidate holdings [1].

Despite the whale selling, retail access to SOL expanded with OSL HK launching retail trading in Hong Kong, offering new investors the ability to trade the asset more easily [1]. Additionally, Blue Origin announced that SOL would be accepted for spaceflight bookings, joining other major cryptocurrencies like Bitcoin and Ethereum [1].

Solana continued its push for broader adoption through initiatives such as the Solana Seeker smartphone, designed to enhance community engagement and on-chain activity. Meme token projects on the network also showed growth, with graduation rates surpassing 3%, indicating a broader rise in developer and user activity [1].

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Source: [1]title:SOL Price Climbs Toward $400 Backed by Axiom’s $200M Record Run (https://www.livebitcoinnews.com/sol-price-climbs-toward-400-backed-by-axioms-200m-record-run/)