Can Solana’s DeFi Surge Drive SOL Beyond $300?
Solana’s price currently stands at $161.12, reflecting a 5.86% decline over the past 24 hours. Despite this short-term dip, the network’s decentralized finance (DeFi) ecosystem is gaining substantial traction, with trade volume skyrocketing by 129.81% to $5.31 billion. The market capitalization has now reached $83.77 billion, bolstered by sub-penny transaction fees and lightning-fast settlement times. Analysts are divided on whether this momentum can propel SOL past the $300 mark, as the DeFi boom continues to attract both institutional and retail investors. The current time is 2025-05-21.
Is Solana’s DeFi Boom Enough To Push SOL Past $300?
Solana’s price currently stands at $161.12, marking a 5.86% decline over the past 24 hours. Despite this dip, the network’s decentralized finance (DeFi) ecosystem continues to attract significant attention, with trade volume surging 129.81% to $5.31 billion. Market capitalization now sits at $83.77 billion, fueled by sub-penny transaction fees and rapid settlement times.
Analysts remain divided on whether this momentum can propel SOL beyond the $300 threshold. The blockchain’s technical advantages—speed and cost efficiency—are undeniable, but macroeconomic headwinds and competitive pressures loom large. Meanwhile, newcomer Remittix gains traction with its payments-focused protocol, though its long-term viability remains unproven.
True Markets Secures $11M Series A Funding, Launches Solana-Based DeFi Trading App
True Markets, a decentralized finance platform specializing in stablecoin-native execution, has launched its mobile-first trading application on the solana blockchain. The New York-based firm simultaneously announced the closure of an $11 million Series A round, bringing its total funding to $20 million.
The investment was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures. Existing backers Paxos Ventures and the Solana Foundation maintained their support.
Founded by Coinbase and Circle alumni Vishal Gupta and Patrick McCreary, True Markets aims to revolutionize retail DeFi trading through a non-custodial platform emphasizing speed and transparency. The app facilitates stablecoin-powered token swaps on Solana’s high-performance network.
Solana Targets $215 Amid Falling Wedge Breakout and Record Wallet Growth
Solana (SOL) has rebounded 2.13% to $170 after a pullback from $185, signaling potential bullish momentum. The altcoin’s recovery follows a breakout from a falling wedge pattern, which previously fueled a 50% rally over one month. SOL now eyes the $215 target as on-chain data reveals 11.16 million wallets hold at least 0.1 SOL—a record high.
Technical analysis shows SOL testing the 50% Fibonacci retracement level at $165.71 after facing resistance at the 61.8% Fib level ($184.52). The sustained wallet growth combined with the chart pattern breakout suggests accumulating demand, though the $185 zone remains a critical supply barrier.
Argentina Shutters LIBRA Probe Unit After Findings Submitted to Prosecutors
President Javier Milei’s administration has dissolved the investigative unit examining his connection to the SOL-based memecoin LIBRA, following the submission of findings to prosecutors. The Unidad de Tareas de Investigación (UTI) was officially closed through a decree signed by Milei and Justice Minister Mariano Cúneo Libarona, stating the unit had fulfilled its mandate.
The probe involved multiple government agencies including Argentina’s central bank and anti-corruption office. This development follows Milei’s February endorsement of LIBRA on social media, which triggered a meteoric rise in the token’s market capitalization to $4.5 billion before an 80% collapse within hours.
LIBRA co-creator Hayden Davies had previously made unverified claims about the project’s potential, though the investigation’s conclusions remain undisclosed. The abrupt closure of the investigative unit raises questions about transparency in Argentina’s cryptocurrency oversight.
Apollo’s Tokenized Credit Fund Set for Solana DeFi Debut as RWA Trend Expands
Apollo Global Management is bridging traditional finance with decentralized ecosystems through a landmark tokenization initiative. A tokenized version of its Diversified Credit Fund (ACRED) will debut on Solana’s blockchain, marking the first instance of a major private credit fund becoming available for on-chain borrowing and leverage within Solana’s DeFi ecosystem.
The project, facilitated by Kamino Finance with support from Securitize and Steakhouse Financial, leverages Solana’s high-speed infrastructure to bring institutional-grade credit strategies to crypto-native investors. Pending audit completion, the ACRED token will enable exposure to Apollo’s private credit portfolios through Securitize’s regulated token framework.
This MOVE accelerates the real-world asset (RWA) tokenization trend, demonstrating institutional confidence in Solana’s capacity to handle sophisticated financial instruments. The integration combines Apollo’s $500B+ credit expertise with Solana’s growing DeFi ecosystem, currently valued at over $4B in total value locked.
Solana Price Eyes $300 as Wallet Count Hits New ATH at 11M
Solana (SOL) shows resilience with a modest 1.09% rebound to $168, despite a 31% drop in trading volume. The cryptocurrency’s market cap edges up 1% to $87.35 billion, signaling cautious Optimism among investors.
Technical analysis reveals a bullish breakout from a falling wedge pattern in April 2025, propelling SOL past the $154.15 support-turned-resistance level. The subsequent 50% rally stalled at $184.52, where selling pressure triggered a pullback to $165.71.
Network fundamentals strengthen as Solana reaches a milestone 11 million wallets, fueling speculation of a $300 price target. The ecosystem’s growth contrasts with recent volatility, suggesting underlying demand may outpace short-term profit-taking.
