Solana Posts 17% Weekly Gain as Institutional Demand Builds Toward $300 Target
Solana (SOL) is closing one of its strongest weeks of 2025, jumping 17% over the past seven days and emerging as one of the top-performing large-cap crypto assets. Only Dogecoin and Hyperliquid have seen better gains among the top 20 coins this week.
Now trading just 15% below its all-time high of $295, SOL is on track for its highest weekly close since January. The rally has sparked renewed speculation about a potential breakout toward the $300 mark, fueled by growing institutional demand and solid market structure.
Galaxy Digital Leads $326M Institutional SOL Purchase
Institutional interest in Solana has intensified. On September 12, Galaxy Digital acquired $326 million worth of SOL on behalf of Multicoin Capital’s Solana Designated Allocation Trust (DAT), according to Arkham Intelligence.
The trust still holds $354 million in stablecoins and has access to $1 billion in deployable capital, signaling that further large-scale purchases may be on the horizon.
This comes shortly after Forward Industries launched a $1.65 billion Solana-native treasury, backed by Galaxy Digital, Jump Crypto, and Multicoin Capital. As the first Nasdaq-listed firm to raise institutional capital for direct deployment on Solana, Forward’s move highlights a growing trend of corporate adoption of the network.
Key Technical Level: $250 as Crucial Pivot Point
From a technical perspective, $250 remains a key resistance-turned-support level. This price zone capped multiple rallies in late 2021, November 2024, and January 2025. Historically, Solana has struggled to maintain levels above $275–$295 without falling back to close near $250.
Analysts say a strong weekly close above $250, followed by continued strength, could open the door for a retest of the $295 all-time high, and potentially push SOL into price discovery beyond $300 in Q4.
Market Structure Suggests Healthy Momentum
Data from CoinGlass shows Solana futures open interest (OI) hit a record $16.6 billion on Friday. Despite this surge, perpetual funding rates have stayed stable, indicating that the rally isn’t overly driven by leveraged speculation.
Other metrics support a bullish outlook:
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Net taker volume is buy-heavy, pointing to aggressive spot accumulation.
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Futures cumulative volume delta (CVD) remains flat, showing a balanced mix of longs and shorts.
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Spot CVD is climbing, suggesting that spot buying — not just derivatives — is powering the rally, which is typically a sign of stronger and more sustainable growth.
RSI Still Below Overbought Territory
Unlike previous runs toward the $295 level, Solana’s relative strength index (RSI) has not yet entered overbought territory, suggesting the rally may still have room to run before hitting major technical resistance.
Conclusion
With institutional buying accelerating, spot markets leading the charge, and technical indicators still showing room for upside, Solana appears well-positioned to challenge its all-time high in the weeks ahead. The $250 level remains the line in the sand — and holding above it could mark a significant shift in long-term sentiment.
Featured image from: cryptoninjas.com