Solana News Today: Solana Holds Near $165 Support as SONIC Surges 17% and Cold Wallet Hits $6.3M Presale

The cryptocurrency market continues to evolve with distinct movements across key projects, as Solana (SOL), SONIC, and Cold Wallet each draw attention for different investor preferences. Solana maintains a strong presence amid technical uncertainty, SONIC experiences rapid price gains, and Cold Wallet’s utility-driven presale has attracted over $6.3 million in commitments, underscoring growing interest in security-focused solutions [1].

Solana’s performance remains a focal point for traders and investors. The asset is currently consolidating near a critical support level around $165, with analysts noting that a breakdown below this area could lead to a 12% drop in price. Despite this, buyers have shown willingness to defend the level, preventing a deeper correction for now. Earlier in the week, Solana briefly rose above $180 but faced strong resistance, retreating toward $172. This highlights the ongoing tug-of-war between bullish and bearish forces. Still, Solana’s robust adoption in decentralized applications and NFTs provides a structural underpinning, with many believing its ecosystem strength could support a recovery as broader sentiment stabilizes [1].

Meanwhile, SONIC has seen a sharp price surge of 17% within hours, driven by heightened trading volumes and ecosystem developments. The rally is attributed to increased exchange listings and community enthusiasm, with decentralized platforms reporting a surge in trading activity. Analysts note that the technical pattern remains bullish, supporting SONIC as a popular choice for traders seeking short-term momentum. However, the rapid increase has also amplified volatility, requiring close monitoring of sustainability in the near term. If demand holds, further gains are possible, but caution remains warranted [1].

Cold Wallet, on the other hand, is capturing attention for its utility-driven model rather than speculative appeal. The project’s presale has now reached Stage 17, with a token price of $0.00998 and a total raised amount of $6.3 million. Investors are drawn to its cashback system, which covers gas fees, token swaps, and even fiat transfers. The platform also offers tiered rewards, with the top level providing up to 100% cashback on gas fees. This mechanism incentivizes long-term token accumulation, aligning with Cold Wallet’s broader vision of combining security with participation-driven incentives [1].

Unlike many projects driven by short-term hype, Cold Wallet emphasizes sustainable growth through halving schedules and reserved token supply. These mechanisms are designed to reduce volatility and support long-term stability. The project’s dual focus on self-custody and reward-based participation sets it apart from speculative tokens, making it an attractive option for investors prioritizing reliability in a volatile market [1].

Together, these developments illustrate a market in flux, where different strategies—speed, scalability, and security—are gaining traction. Solana’s technical resilience supports its position as a high-adoption blockchain, SONIC’s momentum reflects growing speculative interest, and Cold Wallet’s presale success underscores the appeal of utility-driven models. As the market continues to differentiate between these approaches, investors are increasingly weighing options that align with their risk tolerance and long-term goals [1].

Source: [1] Solana Holds Strong & SONIC Rises, But Cold Wallet’s $6.3M Presale Goes Viral (https://coinmarketcap.com/community/articles/68a760e4599ac07a8d597c88/)