Solana Surges 17% in a Month, Eyes $260 as Institutional Interest Grows

Solana (SOL) has recently broken through a key resistance level, reaching $175 and attracting significant attention from both retail and institutional investors. This price movement has prompted analysts to update their 2025 outlooks, with many expressing bullish sentiments. The increasing network activity and stronger DeFi interest across markets are contributing to this positive momentum.

Technical analysis indicates that Solana's momentum indicators are strengthening, with the Relative Strength Index (RSI) moving above neutral and daily trading volume increasing steadily across major exchanges. Over the past month, Solana has experienced 17 green days, leading to a Fear & Greed Index (FGI) of 78, which signifies extreme greed. Analysts now identify $200 and $218 as the next major resistance zones. A break above these levels could open the path toward $260, which several market watchers cite as a mid-term target based on Fibonacci retracement levels and historical trading patterns. Solana's chart structures show support consolidation near $165, reducing downside risk in the near term.

Crypto analyst Ali Martinez recently shared that the number of wallets holding at least 0.1 SOL hit a new record of 11.16 million. This growing ownership could provide a substantial push for its price, potentially helping SOL reach its next target of around $300. The increasing number of wallets holding SOL suggests a growing interest and adoption of the cryptocurrency, which could further drive its price upward.

In parallel, Solana’s ecosystem narrative is strengthening through its recent partnership with R3. This collaboration is designed to bridge traditional finance with DeFi infrastructure, allowing regulated financial institutions to use R3’s Corda platform alongside Solana’s public blockchain rails for asset tokenization. This development supports growing institutional interest in SOL, particularly as tokenization initiatives gain traction globally. Solana’s inclusion in R3’s ecosystem is expected to provide enterprise-grade exposure to its infrastructure, with implications for future transaction volume and network utility.

On-chain data from DeFiLlama highlights increased protocol growth and developer activity within the Solana ecosystem. Combined with rising DeFi volume and consistent NFT market engagement, these indicators reflect a possible expansion of the Solana ecosystem, contributing to the current bullish outlook. The growing interest in DeFi and NFTs on the Solana blockchain suggests that the network is becoming more attractive to developers and users alike, further supporting its price momentum.