Why Solana Broke the August High: What Happens Now? Video By More Crypto Online.
Timestamps:
0:00 - Solana upside targets
0:50 - Bullish wave scenarios
2:52 - Daily support zones
5:02 - Trend divergence and waves
7:59 - Short term pivot levels
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The live price of Solana (SOL) today is $111.83 USD, demonstrating a strong 5.9% gain over the past 24 hours and breaking into a fresh 7-month high. Coordinated spot buying and a heavy derivatives short squeeze have pushed SOL firmly past the psychological $110 resistance level.
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Insights Today
-Institutional Momentum & ETF Milestone: Cumulative assets across newly launched Solana ETFs (such as products from Bitwise and Fidelity) have officially surpassed the $1 billion milestone. This influx of institutional liquidity is providing a robust structural floor for SOL. Furthermore, major institutions like Morgan Stanley are reported to be filing for their own dedicated Solana Trusts.
-Wall Street Disruption via Real-World Assets (RWA): Solana's RWA sector has experienced explosive growth, climbing to $4.30 billion in total tokenized assets. Notably, tokenized equity platform XStocks cleared over $1 billion in 30-day decentralized exchange volume, largely driven by synthetic S&P 500 ETF (SPYx) trades on Raydium. On-chain stock tokens briefly surpassed combined daily transaction segments on traditional exchanges, highlighting the network's growing appeal as 24/7 financial infrastructure.
-On-Chain Health Defies Price History: While SOL remains down significantly from its all-time high of $294.85 (set on January 19, 2025), its underlying network fundamentals are stronger than ever. The Total Value Locked (TVL) across Solana DeFi applications has climbed to a 40-month high of $5.91 billion.
-Banking and Network Upgrades: Regulatory clarity took a positive turn after an FDIC-insured U.S. bank (Column) integrated stablecoins natively into its banking core, utilizing Solana as its default processing network. This comes alongside ongoing developer traction for the Alpenglow upgrade, which aims to transition the consensus architecture to simpler validation mechanisms, targeting sub-150ms transaction finality times by the end of the year.
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