Solana News Today: Solana Price Stabilizes at $180 Amid ETF Approval and Staking Surge

Solana’s recent strategic developments have triggered notable market responses, with regulatory shifts, investor behavior, and technical indicators converging to shape the asset’s trajectory. On July 30, Solana (SOL) maintained a stable price of $180, following a dip from its $200 high the previous week [1]. Market participants remained cautiously optimistic, particularly in light of the U.S. Securities and Exchange Commission’s (SEC) approval of a new “direct swap” model for cryptocurrency exchange-traded funds (ETFs). This regulatory development fueled immediate reactions, as investors staked a record 4.1 million SOL in a single day, reducing exchange supply and alleviating short-term selling pressures [1].

The increase in staked SOL was significant, with the total volume of locked tokens rising from 397.8 million to 401.9 million within 24 hours—marking a 1% surge. This trend reflects growing confidence in the network’s long-term stability, supported by enhanced security features and potential tax advantages from the new regulatory framework. Analysts suggest that this elevated staking activity could lead to supply scarcity, which in turn might trigger further price appreciation, echoing past patterns of market improvement [1].

Technically, Solana’s price remained within a narrow Bollinger Band range following its early July peak at $210. The $178.71 level emerged as a key support, with the potential to challenge the $202.37 resistance. A sustained break above this level could enable the asset to stabilize above $200 in the coming weeks, with further upside potentially reaching $220 [1]. However, the MACD indicator’s decline below the signal line and the histogram’s shift to red suggest bearish tendencies. If Solana closes below $175, it could face downward pressure, testing the $155-160 range as defined by the lower Bollinger Band support. A sustained decline past $160 would represent a secondary level of concern for stakeholders [1].

In parallel, broader market speculation around a potential U.S. strategic Bitcoin reserve has introduced additional volatility. While some analysts see this as a potential catalyst for crypto price gains, others warn of increased regulatory scrutiny and market instability [6]. Meanwhile, institutional interest in Solana has continued to rise, as demonstrated by DDC, a key crypto investor, which has increased its holdings and expressed plans for further investment amid expectations of ETF approvals [2].

Despite this optimism, the Solana ecosystem has also seen internal debate. The platform’s co-founder, Anatoly Yakovenko, recently criticized memecoins and NFTs as “digital slop,” igniting controversy and reflecting a broader industry discussion about the legitimacy and sustainability of such assets [4]. At the same time, efforts to address bot activity and malicious trading in the memecoin space have led to the launch of a new initiative on the Solana network, aiming to enhance security and user trust [5].

While Solana’s price dipped 9.68% over the past seven days according to Coinbase [7], its overall outlook remains positive, supported by strong technical indicators and expanding use cases in decentralized finance (DeFi). As the market continues to evolve, Solana’s strategic positioning—characterized by regulatory progress, institutional adoption, and technological innovation—suggests it is well-placed to influence the future of digital assets. However, the interplay of internal debates and external uncertainties will remain key factors shaping its development in the months ahead.

References:

[1] https://coinmarketcap.com/community/articles/688b2e2e662d5e6802830eb8/

[2] https://www.binance.com/en-KZ/square/post/27596808389178

[4] https://bitscreener.com/crypto-news/solana-co-founder-sparks-controversy-calling-memecoins-and-nfts-digital-slop

[5] https://www.okx.com/en-us/learn/orca-wavebreak-solana-bot-memecoin

[6] https://www.ainvest.com/news/bitcoin-news-today-strategic-bitcoin-reserve-speculation-sparks-debate-market-impact-adoption-2507/

[7] https://www.coinbase.com/en-gb/price/solana