Solana crypto is a robust, high-performance blockchain known for its low fees and high scalability. These attributes make the network the official home of meme coins, an industry now worth over $70 billion. Although SOL crypto ranks below XRP in market cap, it remains one of the top-performing assets over the past year.
From the daily chart, the local resistance is around $210. For the uptrend to continue, there must be a strong push above last week’s highs, ideally with above-average trading volume. Buyers should reverse the losses of August 25, build on gains from the end of last week, and absorb all selling pressure for a chance of trend continuation. If they succeed and SOL USD breaks $210, the resulting double-top breakout could form the base for further gains toward $300 in a buy-trend continuation formation.
(Source: TradingView SOL USDT)
On Coinglass, momentum appears to be declining. Due to the double-bar bear reversal formation on August 26, the average daily volume dropped 12% to around $41 billion across major crypto perpetual platforms, including Hyperliquid and Binance.
(Source: Coinglass)
Meanwhile, open interest fell nearly 10% to $11.5 billion. The drop in open interest suggests traders are exiting their long/short positions while awaiting clear trend definition. This wait-and-see approach primarily applies to buyers who, after building their longs, faced price drops and liquidations on August 25. By the end of the day, over $49.5 million in leveraged longs were closed across perpetual exchanges, primarily Binance.
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SOL USD Crypto Dips, but Public Companies Remain Bullish: Sharps Technology Places a $400 Million Bet on Solana
Amid a cautious outlook on Bitcoin, public companies are increasingly bullish on
Solana
2.74%
Solana
SOL
Price
$66.58
2.74% /24h
Volume in 24h
$2.29B
Price 7d
and crypto. Despite the drop on August 25, institutions eagerly bought the dip, investing over $443 million in spot Ethereum ETFs.
(Source: SosoValue)
The endorsement of Ethereum, which shares features with Solana, is a major boost for altcoins. Like some of the top Solana meme coins, SOL USD could reap massive benefits.
As institutions accumulate spot Ethereum ETFs, more public companies are exploring Solana. Yesterday, shares of Sharps Technology, traded on NASDAQ, nearly doubled after the firm announced plans to purchase SOL and add it to its balance sheet.
Sharps Technology aims to create the largest Solana digital asset treasury through a private investment in a public equity transaction. The deal, set to close by the end of the month, includes a non-binding letter of intent with the Solana Foundation to buy $50 million of SOL at a 15% discount to the 30-day average market price.
Investors can fund their allocation with locked or unlocked SOL. In return, they will receive pre-funded and stapled warrants for $6.50, exercisable at $9.75. This directly ties their equity to SOL USD performance. Sharps Technology will also stake its SOL holdings, earning a 7% yield.
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Time to Buy Snorter: The Meme Coin Trading Bot on Solana
As public companies invest in Solana, savvy investors recognize that a rising Solana will attract more developers to launch meme coins and other quality projects.
The best way to capitalize on this expected meme coin surge is to use effective tools that provide an edge. Among them, traders are increasingly turning to Snorter.
Snorter developers are launching a unique trading bot with features like sub-second executions and a 0.85% fee, lower than the market average.
Traders benefit from priority transaction confirmation through custom Solana RPC infrastructure. Additionally, the bot offers MEV protection and honeypot detection, protecting traders from rug pulls.
Beginner Snorter traders can use advanced order types and even copy trades from experienced snipers.
In the ongoing presale, Snorter has raised nearly $3 million. Each SNORT token is available for $0.1023. SNORT stakers earn a 130% APY.
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Solana Crypto Price Dip, Snorter Presale Raises Nearly $3M
- Solana crypto uptrend remains despite price dip
- SOL USD upside capped at $210: Will bulls succeed?
- Sharps Technology plans to buy $400 million of SOL
- Snorter presale raises nearly $3 million
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