Solana (SOL) Surges 30% on Institutional Interest, Ecosystem Milestone

Made in USA coins have shown significant momentum this week, with Solana (SOL), Ondo Finance (ONDO), and Story Protocol (IP) emerging as the top contenders. Solana has experienced a remarkable 30% rebound, driven by renewed institutional interest and a major milestone in its ecosystem. The Solana ecosystem has surpassed Ethereum in daily DEX volume, recording $2.17 billion in the past 24 hours. This surge in activity has been further bolstered by the public company Janover's purchase of $5 million worth of SOL, marking a significant vote of confidence in the blockchain's long-term viability. According to Titan founder Chris Chung, this move could pave the way for more traditional companies to view Solana as a viable investment option.

Ondo Finance (ONDO) has also gained traction following the collapse of MANTRA’s OM token, which wiped out $5.5 billion in market value. This shift in investor attention comes at a crucial time, as the total value of Real World Assets (RWAs) brought on-chain has surpassed $20 billion for the first time. Ondo Finance is well-positioned to benefit from this momentum, especially as investors seek alternatives following the OM collapse.

Story Protocol (IP) has been a topic of discussion recently and is a strong contender for a potential Binance listing in April. Despite an 18% drop in the last 24 hours, the token remains a potential candidate for a rebound if buying interest returns. Among the top 25 largest US-based crypto projects, Story is the only one in the red over the past seven days, which could signal a temporary lag and potential for a sharp rebound.

In summary, the top three Made in USA coins for the third week of April are Solana (SOL), Ondo Finance (ONDO), and Story Protocol (IP). Solana's resurgence is driven by institutional interest and a significant milestone in its ecosystem. Ondo Finance benefits from the RWA narrative and growing investor rotation following MANTRA’s collapse. Story Protocol, despite a recent drop, has the potential for a rebound due to Binance listing speculation.

Analysis: The resurgence of Solana (SOL) is particularly noteworthy, as it has rebounded 30% in the last seven days, reaching the $130 level. This makes it one of the biggest Made in USA coins in the market, behind only XRP. The purchase of $5 million worth of SOL by Janover highlights the growing institutional interest in Solana and its potential as a long-term investment. If the current momentum continues, SOL could break the resistance at $136 and aim for $147 and $160. However, if the rally loses steam, SOL could revisit support at $124, with further downside to $112 or even $95 depending on the sharpness of the pullback.

Ondo Finance (ONDO) has the potential to break above key resistance levels at $0.90 and $0.95, potentially opening the path toward $1.20. However, ONDO has already failed twice to break the $0.90 mark, and if it stalls again, it could face downside pressure. The first critical support lies at $0.82, and a break below that could lead to further declines toward $0.73 and even $0.66.

Story Protocol (IP) could rise to retest the $3.65 resistance level if momentum shifts back in its favor. After that, it has a potential breakout to $4.49 and even $5. However, if bearish pressure persists, IP could fall below $2.40, possibly going as low as $2.12.