Solana News Today: SOL Strategies' Nasdaq Debut Validates Solana’s Institutional Ascent

SOL Strategies, a Toronto-based digital asset firm focused on the Solana blockchain, is set to list its common shares on the Nasdaq Global Select Market. Trading is scheduled to begin on Sept. 9 under the ticker STKE. The firm, previously known as Cypherpunk Holdings, has rebranded around its Solana strategy and currently holds 435,064 SOL tokens, valued at approximately CAD$122 million as of the end of August. The Nasdaq listing is expected to enhance institutional visibility, improve liquidity, and expand access to capital markets. CEO Leah Wald emphasized the move's significance, stating that it would validate the Solana ecosystem and support the firm's validator operations and ecosystem investments [1].

Simultaneously, Solana’s open interest (OI) has surged to a record high of $13.68 billion in futures markets, reflecting heightened speculative interest in the derivatives market. Analysts suggest that this trend may precede significant price movements. Technical analysis indicates that if the price breaks above the $210–$250 resistance level, Solana could potentially reach $1,000. A megaphone pattern on the weekly chart has formed, suggesting a parabolic rise if the upper trend line around $330 is breached. The relative strength index has also increased from 49 to 61 since early August, signaling growing bullish momentum. A cup-and-handle pattern has been confirmed, with the price still trading above the handle's upper boundary [2].

The Alpenglow upgrade, approved with 98.27% support, has further bolstered investor confidence. This upgrade reduces Solana’s transaction finality from 12.8 seconds to 150ms and increases throughput to 107,540 transactions per second. These improvements enhance Solana’s competitiveness against Ethereum. However, onchain activity has not kept pace with price gains; over the past 30 days, Solana’s transaction count dropped by 99%, and active addresses fell by 22%. In contrast, Ethereum transactions rose by 39% during the same period. Additionally, decentralized exchange (DEX) activity on Solana fell for the third consecutive week, with volumes dropping by 65% to $10.673 billion [2].

Remittix (RTX), a cross-border payment token, has also drawn attention as a potential disruptor in the crypto space. The project raised over $23.7 million in its presale, selling more than 644 million tokens to early buyers. RTX, priced at $0.1030, has secured listings on BitMart and LBank. The team plans to launch a beta wallet in Q3 2025, enabling crypto-to-bank transfers with real-time foreign exchange conversion. Despite the presale's success, the exact launch date remains uncertain, raising concerns among investors due to the prolonged timeline. The token's utility, including cross-border payments and low fees, has attracted interest from freelancers and corporate users [3].

The potential impact of Remittix on Solana's ecosystem is a point of speculation. While the presale has demonstrated strong investor demand, the project's long-term success will depend on its ability to deliver on its roadmap and gain traction in the market. The upcoming wallet launch and exchange listings are expected to drive visibility and liquidity. However, the absence of live features and the lack of a confirmed launch date pose risks for investors. The market will closely watch how the Solana price and open interest evolve in response to these developments, particularly as institutional adoption and decentralized finance (DeFi) growth continue to shape the broader crypto landscape [3].

Source:

[1] SOL Strategies Wins Nasdaq Listing, Shares to Trade (https://www.coindesk.com/business/2025/09/05/sol-strategies-wins-nasdaq-listing-shares-to-trade-under-stke)

[2] Solana Open Interest Hits $13B All-time High (https://cointelegraph.com/news/solana-charts-1000-sol-price-target-open-interest-all-time-highs)

[3] How Remittix Is Turning Presale Buzz Into Growth (https://coinpedia.org/press-release/how-remittix-is-turning-presale-buzz-into-growth/)