Solana News Today: Solana Token Surges 13% as Whale Activity and Buybacks Rise 158%

Generated by AI AgentCoin World
Saturday, Aug 23, 2025 10:16 pm ET1min read
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Aime RobotAime Summary

- Solana's SOL token surged 13% to $200, sparking discussions about reclaiming its $295 all-time high amid increased whale accumulation.

- Solana-based protocols saw a 158% rise in weekly buybacks ($46.8M), now accounting for 40% of crypto project buybacks, signaling stronger network demand.

- Institutional interest grew with VanEck's Solana ETF filing and EU's potential adoption of Solana for its digital euro initiative.

- Traders monitor $295 resistance level, with a successful break likely to trigger a new bullish phase or consolidation if momentum falters.

Solana’s native token, SOL, surged 13% in 24 hours, breaking through the $200 level and reigniting discussions about its potential to reclaim its all-time high of $295. The rally coincided with a significant rise in whale activity, where large investors began accumulating positions near current levels, as revealed by CryptoQuant’s Futures Average Order Size data [1]. Unlike typical retail-driven rallies, whale accumulation often signals a more sustained upward trend, reinforcing the argument that SOL could be preparing for a new bullish phase.

A key factor behind the momentum has been the rapid increase in token buybacks within the

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ecosystem. According to SolanaFloor, weekly buybacks by Solana-based protocols have jumped by 158%, from $14.5 million to $46.8 million over two weeks [2]. This growth indicates stronger economic activity on the network and a steady return of demand for SOL. Notably, Solana now accounts for 40% of all crypto project buybacks, a sharp increase from just 11% in June. Analysts have highlighted this as a positive sign for the token’s fundamentals and market confidence.

Institutional interest has also played a role in boosting Solana’s profile. VanEck recently filed for a U.S. spot Solana ETF backed by the liquid staking token JitoSOL, a development that could increase mainstream adoption if approved [3]. Additionally, reports suggest that the European Union is considering Solana—alongside Ethereum—as a potential infrastructure for its upcoming digital euro initiative. These developments may further amplify institutional demand and broader recognition of the blockchain platform.

Despite these bullish indicators, the $295 level remains a critical resistance. While whale accumulation, rising protocol activity, and institutional attention have created a strong case for continued upside, traders are watching closely for signs of profit-taking or momentum loss as the token approaches this key psychological barrier. A successful break and hold above $295 could signal the next phase of Solana’s bull run, but any failure to maintain momentum may result in a consolidation phase or a pullback.

Sources:

[1] https://ambcrypto.com/solana-captures-40-of-crypto-buybacks-sol-can-reach-295-if/