- Solana rebounded from $175 support to trade above $182, breaking past a bearish trend line.
- The network processed Bullish exchange’s $1.15B IPO fully on-chain with stablecoins, marking a major institutional milestone.
- SOL now targets $188–$195 resistance, supported by rising addresses and a 100,000 TPS performance peak.
Solana has bounced back from its $175 support level, now trading above $182 after breaking through a bearish trend line at $183. The recovery comes right as the network made headlines for settling Bullish exchange’s $1.15 billion IPO entirely on-chain with stablecoins. That single transaction marked the first time a Layer 1 blockchain handled a capital-markets scale settlement natively, putting Solana in front of institutional players who’ve mostly leaned on traditional rails until now.
Network Handles $1.15B IPO Settlement
The IPO settlement wasn’t just a flashy number—it was a proof point. Bullish chose Solana’s chain to process over a billion dollars in stablecoins, a move that signals confidence in the network’s ability to handle large-scale, high-stakes financial flows. For Solana, it’s a shot at legitimacy in the eyes of Wall Street, showing that beyond NFTs and DeFi, the chain can stand up as an institutional-grade settlement layer. It’s a milestone that many argue could accelerate adoption from exchanges, funds, and banks looking at blockchain for real capital markets activity.
Technicals and Adoption Trends
From a technical standpoint, SOL faces resistance around $188, with further targets at $192 and $195 if momentum keeps up. MACD is bullish, RSI sits comfortably above 50, and the price is holding above the key $180 level. On-chain, Solana reached a verified throughput peak of 100,000 TPS, flexing performance capabilities, though network usage remains mixed. Daily active addresses jumped by half a million in three days, climbing from 3.1M to 3.6M, even as broader activity dipped earlier in the week.
Can SOL Push Higher?
Despite the bounce, Solana is still lagging Ethereum in monthly returns—posting 5% gains compared to ETH’s 15%. Still, with institutional-scale settlement now in its back pocket, SOL’s narrative could shift quickly. If bulls manage to clear $195 resistance, the next leg toward $200 and even $210 comes into play. If not, support at $184 and $180 could be retested. For now, the combination of technical resilience and Wall Street attention is keeping Solana firmly in the spotlight.
