Solana Eyes $232 as $400M Treasury and USDC Boost Fuel Institutional Demand
Solana (SOL) is holding above $206 despite the volatility, backed by institutional demand. A big catalyst is Sharps Technology’s...
Quick overview
- Solana (SOL) remains above $206, supported by institutional demand and a $400M treasury from Sharps Technology.
- The treasury, backed by major investors, aims to scale to $1B, highlighting Solana's potential as a leading blockchain.
- Circle has enhanced Solana's liquidity by minting $750M USDC, contributing to a proposal that could significantly reduce block finality.
- Current technical analysis shows Solana facing resistance at $218, with potential bullish and bearish trade setups outlined.
Solana (SOL) is holding above $206 despite the volatility, backed by institutional demand. A big catalyst is Sharps Technology’s $400M Solana treasury, which plans to scale to $1B with warrant exercises.
The treasury is backed by top investors including ParaFi, Pantera and FalconX and positions Solana as the fund’s top asset. Alice Zhang, CIO of Sharps said Solana is “capable of handling any tradable asset worldwide” as the confidence in the ecosystem grows.
Key points:
- Initial $50M SOL allocation at 15% discount.
- Can scale to $1B if warrants are fully exercised.
- Market leaders backing Solana as a high-performance blockchain.
Circle Expands Liquidity on Solana
Circle added to Solana’s liquidity by minting $750M USDC during the community vote on the Alpenglow upgrade (SIMD-0326). The proposal aims to reduce block finality from 12.8 seconds to 150 milliseconds making Solana one of the fastest major blockchains.
Sharps Technology closes a $400M private placement to launch its Solana treasury strategy.
The total proceeds could reach $1B if all warrants exercised, potentially becoming one of the largest $SOL treasury companies. pic.twitter.com/6gH3UGpQCp
— Dani Gigante (@Dsgigante) August 29, 2025
According to Dune Analytics, 226 validators (20% of network stake) have voted, most are in favor. To pass 33% participation is required with a 2/3 “yes” majority.
Metrics show Solana’s momentum:
- Stablecoin market on Solana reached $12.17B, USDC is 71.6%.
- Total Value Locked (TVL) is $11.815B, close to January’s $11.989B high.
Solana (SOL/USD) Technical Analysis
Solana is trading at $206.34, down 3.2% in the last 24 hours. On the 2-hour chart, SOL is retreating from resistance at $218, defending support above $201.88. This is an ascending channel structure, typically seen before breakouts.
Candlestick action shows fading strength, long upper wicks at $218 is selling pressure. RSI has dropped from 63 to 47, MACD has a bearish crossover, near-term weakness. As long as SOL is above $202, the bigger picture is still intact.
Trade setups:
- Bullish: Buy above $218 on high volume, target $225-$232, stop below $202.
- Bearish: Short below $202, target $194-$186, stop above $210.
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