While Solana’s price action shows signs of consolidation this week, hovering around the $129 level after stronger performance earlier in the month, a significant underlying trend is emerging. The blockchain is witnessing accelerated institutional adoption, marked by growing investor positions and the integration of traditional financial instruments onto its network.
Network Activity Defies Price Weakness
Despite the subdued price movement, user engagement on the Solana network is surging. The count of weekly active wallets jumped by 69% over a two-week period, rising from 2.9 million to 4.9 million. This growth in usage underscores robust fundamental activity separate from short-term price volatility.
Supporting this activity, the decentralized exchange BisonFi processed a 24-hour trading volume of $1.1 billion. Its seven-day cumulative volume surpassed $4 billion. The network itself continues to demonstrate high throughput, handling up to 65,000 transactions per second with average fees remaining minimal at $0.00025.
Traditional Finance Embraces the Blockchain
A key development fueling institutional interest is a strategic agreement signed between the Solana Foundation and Hanwha Asset Management, a major South Korean asset manager. The partnership focuses on developing Solana-based exchange-traded products, signaling deepening institutional confidence in the blockchain’s infrastructure.
In a parallel move, a collaboration between Jupiter and Ondo Finance has enabled the trading of more than 200 tokenized U.S. stocks and ETFs directly on Solana since January 23. This offering includes securities listed on NASDAQ and the New York Stock Exchange (NYSE), bringing traditional equity trading onto the blockchain. Furthermore, with BitGo’s NYSE debut, its tokenized stock is also available on Solana at $18 per share.
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These developments have propelled the Real World Assets (RWA) sector on Solana past a significant milestone, exceeding $1 billion in Total Value Locked. Notably, approximately one-fifth of these funds originate from public equity investments made by traditional financial institutions.
Technical Analysis: Support Holds for Now
Following a sell-off that triggered liquidations of 98,000 SOL, the price has found stability. The support zone between $123 and $129 has proven resilient so far. Analysts note, however, that a break below $124.73 could invite renewed selling pressure.
On the upside, immediate resistance is situated in the $132.65 to $135.37 range. A sustained move above $137.65 is viewed as necessary to alleviate near-term bearish pressure. Trading volume has recently receded to approximately $2 billion, representing a 40% decline from recent peaks.
Outlook: Building a Foundation for Stability
The recent developments point to a clear trajectory: Solana is increasingly positioning itself as a viable platform for institutional-grade applications. Evidence of this shift is seen in the eight Solana ETFs listed on the NYSE, which collectively now manage over $1 billion in assets. These products have seen inflows of nearly $6 million across the last two trading sessions.
The integration of conventional financial products and partnerships with established asset managers is expected to provide medium-term stability for the ecosystem. In the short term, the technical picture remains tense. As long as Solana trades above its December low of around $119.56, potential for recovery persists. A decisive breakout above the $137 level would serve as the next significant bullish signal for the market.
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