Solana

In a powerful show of institutional conviction, Mike Novogratz’s Galaxy Digital withdrew a massive $40 million worth of Solana (SOL) from major exchanges Binance and Coinbase. This move coincides with a monumental milestone for the network: its Decentralized Finance (DeFi) Total Value Locked (TVL) has surged to a new all-time high of $12.35 billion, underscoring unprecedented growth and strength.

Why Galaxy Digital’s Move Is a Big Deal

When a giant like Galaxy Digital pulls such a large amount of tokens off an exchange, it’s a classic bullish signal. It suggests they are moving the assets into cold storage for the long term, reducing the immediate selling supply on the market.

This isn’t an isolated bet. Galaxy Digital is part of a $1.65 billion financing round for Forward Industries, the largest Solana-focused treasury raise to date. This initiative, which includes Jump Crypto and Multicoin Capital, aims to create a publicly-traded institutional powerhouse that actively engages in Solana’s DeFi markets to generate yield and shareholder value.

Solana DeFi Breaks All-Time High

The fundamental backdrop for this institutional interest is incredibly strong. Data from DefiLlama confirms Solana’s DeFi ecosystem is booming.

• DeFi TVL: $12.35 billion (Record High in USD terms)
• Stablecoin Market Cap: $12.77 billion
• 24h Fees: $1.24 million

While the TVL in SOL terms hasn’t yet reclaimed its 2022 peak, the dollar-value record is what matters for attracting new capital and validating the network’s utility.

Jupiter Emerges as a Key Growth Driver

A major catalyst behind this TVL surge is the explosive launch of Jupiter Lend. In just two weeks, the lending protocol has amassed over $600 million in TVL, single-handedly lifting its parent protocol, Jupiter, to a total TVL of $3.38 billion.

This phenomenal growth has cemented Jupiter’s position among the top Solana DeFi protocols, outperforming rivals with a 25.2% TVL increase over the past month.

SOL Price Prediction: Key Level to Watch

Technically, SOL is at a critical juncture. It’s currently trading around $220, consolidating near the upper boundary of a rising wedge pattern.

• Bullish Scenario: A decisive break above the $225-$230 resistance zone could trigger a rally toward $260-$280, with a potential test of its all-time high near $294.
• Bearish Scenario: If it fails to break out, SOL could retrace to support at $195-$200, with a deeper fall toward $175 possible if selling pressure intensifies.

The Bottom Line

The combination of massive institutional backing, a record-breaking DeFi ecosystem, and a strong technical setup creates an incredibly bullish case for Solana. Galaxy Digital’s $40 million withdrawal is a vote of confidence that echoes across the market. If these trends continue, SOL is well-positioned for a potential run to new all-time highs, making it one of the most compelling narratives in crypto for the remainder of 2025.

Solana kicked off September with a fascinating divergence. While its Real World Asset (RWA) ecosystem reached a historic $500 million valuation, the price of SOL dipped 3% to $198. This pullback appears to be a classic case of “buy the rumor, sell the news,” as traders took profits despite overwhelmingly positive on-chain growth.

Record Growth in Solana’s RWA Ecosystem

Data from RWA.xyz, reported by SolanaFloor, confirms explosive growth in Solana’s tokenized real-world assets sector.

Key metrics show powerful organic adoption:

• Total RWA Valuation: $500.10 million (All-Time High)
• RWA Holders: 66,732 wallets (up 5.27%)
• Listed RWA Assets: 92
• Total RWA Activity: $11.62 billion (up 9.19% in 30 days)

This surge is backed by a 3% increase in stablecoin holders to 11.21 million, proving that real economic activity and users are flooding onto the Solana network.

Why Did the SOL Price Drop?

Despite the fantastic fundamental news, SOL price retreated from its August close above $205—its highest since January 2025. The dip below the psychological $200 level was likely driven by short-term profit-taking after a strong monthly performance.

Derivatives data tells a more nuanced story:

• Trading Volume: Surged 29.99% to $25.86 billion.
• Open Interest: Dipped 4.60% to $12.20 billion.

The significant volume spike alongside the slight drop in open interest suggests traders were repositioning rather than fleeing the market entirely. This often sets the stage for a rapid rebound.

SOL Price Prediction: Can It Reach $300 in September?

Technically, Solana’s chart remains structurally bullish. It is trading well above its 20-month moving average at $167.78.

• Bullish Scenario: A rebound above $200 could trigger a run toward $232 resistance. If momentum continues, a push toward $250 and even $293 is possible in September.
• Bearish Scenario: If selling pressure continues, SOL could fall toward the $167 support. A break below this level might see a test of $150, though strong fundamentals suggest buyers will likely defend key levels.

The Bottom Line

The short-term price action shouldn’t overshadow the monumental fundamental achievement. Solana is proving itself as a leading blockchain for tokenizing real-world assets, a narrative with trillion-dollar potential.

The combination of a record-breaking RWA ecosystem, a strong technical structure, and the potential for a Fed rate cut in September creates a compelling bullish setup. For investors, this dip may represent a healthy pullback within a larger uptrend, offering a potential entry point before the next leg up.

Solana (SOL) has hit a wall at the $200 resistance level, failing to break through last week. However, a crucial shift happening under the hood could be setting the stage for its next major move. The behavior of SOL investors is maturing, and this might be the key to its recovery.

A Surge in Long-Term Belief

New on-chain data reveals a powerful trend: long-term conviction. In just the last 24 hours, a staggering 5 million SOL (worth over $905 million) that had been dormant for 6-12 months suddenly became active. This doesn’t mean it was sold—it means these holdings officially “matured” and transitioned into the long-term holder (LTH) category.

Why is this so important?

• Reduced Selling Pressure: Long-term holders are far less likely to sell on minor price dips.
• Increased Scarcity: It effectively locks up a large portion of the circulating supply.
• Bullish Signal: It demonstrates growing investor confidence in Solana’s future potential.

This maturation could create the solid foundation SOL needs to finally push past its key resistance levels.

The Short-Term Challenge

Despite this positive long-term signal, Solana faces a short-term headwind. The Chaikin Money Flow (CMF) indicator is currently negative, sitting below the zero line. This technical indicator suggests that capital is flowing out of SOL faster than it’s flowing in.

This selling pressure is the main reason SOL has struggled to reclaim $200. If outflows continue, it could keep the price suppressed in the near term.

Solana Price Prediction: Key Levels to Watch

So, where does SOL go from its current price of $180?

Bullish Scenario:
For a rally to begin, SOL must firmly hold above the $175 support level. If long-term holders continue to hold strong, Solana could rebound to reclaim $189. A successful break above that would set its sights back on the crucial $200-$201 resistance zone.

Bearish Scenario:
If selling pressure overwhelms the market and SOL breaks below $175, the next major support level sits at $163. A drop to this level would invalidate the current bullish outlook and likely lead to a deeper correction.

The path forward hinges entirely on whether long-term holder conviction can outweigh the current wave of selling.