Solana News Today: SOL Surges 2.5% as Institutional Buying Boosts Confidence

SOL is gaining traction as Solana (SOL) moves above $165, marking a 2.5% increase in the past 24 hours. The asset is drawing attention from institutional players, with entities including Upexi, Bit Mining, and DeFi Development Corp collectively holding over 3.5 million SOL. This accumulation reflects growing confidence in Solana’s long-term staking benefits and ecosystem development [1]. Technically, SOL is forming a tightening pattern just below the $170 resistance level. A breakout past $175 could initiate a rally toward $200 or even $250, potentially marking a significant phase in Solana’s upward trajectory [1].

In contrast, BONK, the Solana-based memecoin, has experienced a 3.9% decline, with prices fluctuating between $0.00002486 and $0.00002360. Sellers have repeatedly pushed back against the $0.00002480 level, preventing any meaningful rebound. Despite a 0.53% bounce, BONK remains in a fragile state, with the $0.00002360 level offering only minimal support. The coin continues to struggle with short-term instability, and its price movements remain largely speculative [1].

Meanwhile, the Cold Wallet presale has captured market attention, having raised over $5.9 million as of the latest update. Stage 16 was sold out swiftly, and Stage 17 is currently active at $0.00998, representing a more than 42% increase from the initial Stage 1 price. At this stage, investors can still secure a 3,424% potential return on investment (ROI), though this figure has decreased from 3,633% in the previous stage. The project distinguishes itself by rewarding users for everyday crypto activities such as swapping, bridging, and on/off-ramping, with cashback provided in CWT tokens. Even gas fees are reimbursed, making typical activities a source of continuous rewards [1].

Over 703 million CWT tokens have already been sold, and with 150 stages in total, the pace of the presale continues to accelerate. Each sellout reduces the time until the official launch and shrinks the ROI window for new participants. Stage 17 is expected to sell out quickly, reinforcing the urgency for investors to act before gains further diminish [1].

Looking ahead, Solana appears well-positioned for a potential breakout if it can surpass the $175 threshold. Institutional accumulation and a favorable technical setup provide a strong foundation for such a move. BONK, on the other hand, faces ongoing downward pressure, with resistance near $0.00002480 limiting its recovery. Cold Wallet’s presale, meanwhile, continues to highlight the importance of timing in the crypto market. With ROI percentages declining rapidly between stages, hesitation poses a greater risk than market volatility [1].

Source: [1] SOL Targets Breakout, BONK Slips 3.9%, & Cold Wallet Stage 17 Sees Massive Buying Rush, Presale Nears $6M. (https://coinmarketcap.com/community/articles/689b4d0bc8fc035085f5a52e/)