Solana News Today: Solana's Surge: A Blockchain's Rise, Backed by Whales, ETFs, and Institutional Bets

Solana (SOL-USD) has surged past the $200 threshold, marking a notable milestone for the high-performance blockchain and one of the largest cryptocurrencies by market capitalization. The rally has drawn attention from both retail and institutional investors, with on-chain data showing increased whale accumulation and a sharp rise in futures trading volume. Daily trading volume for SOL now exceeds $6.6 billion, a 176% increase compared to the previous week, signaling strong conviction in the asset’s potential. This momentum is further reinforced by institutional activity, including a recent ETF application by VanEck that could see billions of dollars flow into the Solana market if approved.

A key driver of Solana’s current trajectory is the surge in protocol-level buybacks. Over the past two weeks, weekly buybacks increased by 158%, reaching $46.8 million, with Solana-based protocols now accounting for 40% of all crypto project buybacks. This shift represents a broader trend in ecosystem reinvestment and liquidity support, reinforcing the token’s appeal beyond speculative trading. Additionally, Solana is being evaluated for European digital currency infrastructure, a development that could solidify its position as a foundational blockchain in high-throughput environments, further distinguishing it from other altcoins.

Technical indicators suggest Solana is at a pivotal juncture. While the $210 resistance level has historically acted as a barrier, the ascending trendline from July remains intact, supporting a bullish outlook. The RSI currently sits at 67—strong but not overbought—while the MACD remains positive with expanding histograms. Analysts are closely watching for a breakout above $210, which could open the door to $218–$228 and, eventually, the $250 mark. Should Solana fail to maintain above $200, however, the next level of support lies at $195, with a deeper fail point at $187.

Meanwhile, regulatory developments are adding to Solana’s momentum. OSL, one of China Hong Kong’s few licensed crypto exchanges, received approval from the Securities and Futures Commission (SFC) to list Solana for retail investors. This move expands access to the asset and could trigger a ripple effect, with other exchanges potentially following suit. The approval aligns with China Hong Kong’s broader strategy to position itself as a global virtual asset hub, including the launch of Asia’s first spot Bitcoin and Ether ETFs in April 2024. These developments signal a regulatory shift that could enable broader institutional and retail participation.

In a separate but related development, Sharps Technology, a small medical device company, announced plans to raise $400 million to fund a Solana treasury, turning its stock into a proxy for the cryptocurrency’s price. The move is part of a growing trend among small public companies to allocate capital to digital assets, a strategy first popularized by MicroStrategy. With companies like Galaxy Digital, Multicoin Capital, and Jump Crypto reportedly in the process of raising $1 billion for a new Solana treasury firm, the trend highlights the growing appeal of the blockchain as a store of value and hedge against traditional markets.

Source: [1] Solana (SOL-USD) Price Forecast - Trading News (https://www.tradingnews.com/news/solana-sol-usd-price-forecast-whale-accumulation-and-etf-buzz-push-sol-toward-295-usd) [2] 1 Brand-New Catalyst for Solana That Could Portend Great ... (https://www.fool.com/investing/2025/08/24/1-brand-new-catalyst-for-solana-that-could-portend/) [3] Small medical firm plans $400 million Solana purchase as ... (https://fortune.com/crypto/2025/08/25/sharps-technology-solana-bitcoin-ethereum-parafi-pantera-coinfund/) [4] While Chainlink Climbs to $25 and Solana Sets Up for ... (https://coincentral.com/while-chainlink-climbs-to-25-and-solana-sets-up-for-280-cold-wallet-lets-you-to-level-up-early/) [5] Solana Holds Strong & SONIC Rises, But Cold W... (https://coinstats.app/news/bd774376b8a8c3bae8e75da7d7e1f35c55bddf689de3a82a2674b18803050f8c_Solana-Holds-Strong--SONIC-Rises-But-Cold-Wallets-63M-Presale-Goes-Viral)