Solana Rallies Toward $450 on Institutional SOL Accumulation
Solana’s native token SOL has surged roughly 47% over the past month, reaching a five-month peak near $205 and trading around $198, buoyed by weekly and monthly gains of 18% and 50% respectively. Institutional treasuries are aggressively accumulating SOL: DeFi Development has amassed nearly 1 million SOL after a $198 million purchase, Upexi holds 1.82 million SOL worth $331 million, and bitcoin miner Bit Mining plans to raise up to $300 million to build a SOL reserve. Combined with staking withdrawals and recent network upgrades, this influx supports a bullish technical setup, including an ascending triangle breakout targeting $300–$360 and potential extension to $400–$500 if key resistance around $216–$254 is breached. Traders should monitor on-chain inflows, staking metrics, momentum indicators and emerging NFT and DeFi activity for signs of a sustained rally.
Bullish
The surge in SOL is underpinned by heavy institutional accumulation from DeFi Development, Upexi and Bit Mining, which shrinks circulating supply and strengthens support around $196–$198. Technical indicators confirm an ascending triangle breakout, with clear resistance at $216 and $254; overcoming these levels could trigger rapid short-term gains toward $300–$360 and a medium-term push to $400–$500. On-chain growth in DeFi, NFTs and tokenized assets further bolsters fundamentals. While bearish divergences against larger caps warrant caution, the volume of inflows, staking withdrawals and network upgrades collectively point to sustained bullish momentum for SOL in both the near and longer term.